Income Tax Returns (ITR) filing
Income Tax Return (ITR) filing: From dearness allowance to cash for marriage, holidays - 11 financial benefits that are taxable
Fri, Jan 25, 2019
An employee has to declare taxable allowances in ITR forms either through offline or online to file for returns. Simply put, ITR helps in reducing the cost of taxes you pay on allowances.
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Income tax returns benefit: Gift your way to saving tax, spread festive cheer among kin
Thu, Oct 18, 2018
Any immovable property received as a gift would be taxed in your hands. The next step would be to determine the value that must be taxed. For this, the law prescribes something called the Stamp Duty Value (commonly referred to SDV) of the asset, which is nothing but the value of the property adopted by stamp valuation authorities for determining the stamp duty.
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How to link PAN with Aadhaar: Income tax return filers must have this linking now
Wed, Sep 26, 2018
How to link PAN with Aadhaar: If you are planning to verify your income tax return (ITR) via Aadhaar card, then make sure your PAN is linked with the biometric. Once you linked with PAN, then you will be eligible for e-verifying your ITR.
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Income tax return (ITR): Beware! Did you make these mistakes? How not to lose money
Wed, Sep 19, 2018
In respect of loans taken from your friends and relatives, you can claim deduction under Section 24(b) for interest. But the deduction under Section 80 C for repayment of principal is not available in such case.
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Income tax returns (ITR) filling: Govt extends deadline for assessees in Kerala
Tue, Aug 28, 2018
Income tax returns (ITR) filling: In a great respite to taxpayers in flood ravaged Kerala, the Central Board of Direct Taxes (CBDT) today extended the last date of filing income tax returns (ITR) till 15 September.
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Income tax returns (ITR) filing: All you want to know about Hindu Undivided Family (HUF) property and more
Wed, Aug 22, 2018
There is a misconception that for an Hindu Undivided Family (HUF) to exist, it should own some assets. But an HUF and HUF property are two different concepts. There may be a situation where an HUF exists on the basis of existence of persons, but it may not own any asset.
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Income tax returns (ITR) filing: This segment does not have to pay tax; are you in it?
Fri, Aug 17, 2018
Notably, this group that does not have to pay tax, does not really have to look at income at all. What its members need to do is find out if they really need to file or pay taxes. This group is made up of agriculturists. So, is the income of an agriculturist taxable? Some agriculturists have, by dint of their hard labour, innovation, imagination managed to really do well in India over the recent decades.
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Income tax returns (ITR) filing: Made a mistake? This is when and how to file revised return
Thu, Aug 16, 2018
It is not uncommon for taxpayers to commit errors or miss out on important information while filing tax returns. Income-Tax laws provide for a mechanism to correct these mistakes by allowing you to file a revised return.
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Income Tax Returns (ITR) filing: Deadline looming and you are stuck? Get relief here
Tue, Aug 14, 2018
First of all, you need the assistance of tax professionals. While you can take the help of Public Relations Officer (PRO) in the local office of the Income-tax Department, you may also approach Tax Return Preparers (TRPs). You can locate your nearest TRP at www.trpscheme.com.
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Income tax returns (ITR) filing: This is why last date was extended
Fri, Aug 03, 2018
Income tax returns (ITR) filing: The last date has been extended much to the relief of common taxpayers who were at their wits end about getting it all done on time. Seeing these difficulties, the government stepped in and decided to effect an unheard of change.
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Income Tax Returns (ITR) filing: Good news coming for women?
Thu, Aug 02, 2018
Income Tax Returns (ITR) filing: Minister of State for Women and Child Development Virendra Kumar said the request to carry out amendment in the Income Tax Act was under the consideration of the Finance Ministry, as he shared the details in the Rajya Sabha during the Question Hour today.
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Income tax returns (ITR) filing: Taxpayers must include assets while filing tax if earnings overshoot mark
Wed, Aug 01, 2018
Income tax returns (ITR) filing: The format of the schedule AL is same for all the ITRs. Except for ITR 3 and ITR 4, where you are required to furnish details of shares, you may have, in partnership firms, etc. Since details of assets to be reported are to be mentioned as on March 31, 2018, you need not furnish details of assets sold during the year.
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Income tax returns filing: Not filing your ITR? You will have to pay this massive penalty
Fri, Jul 27, 2018
This assessment year on (AY19), the Income Tax department has hiked the penalty for not filing income tax returns within the deadline of July 31, which can go as high as Rs 10,000 - the deadline has been extended by a month now, though.
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Income tax returns filing: Deadline looming, here is what you should never do
Wed, Jul 25, 2018
Income tax returns filing: Less than a week remains for you to file your income tax returns (ITR). As you rush to file your ITR, there are chances that you unknowingly make a mistake, which could cost you dearly. We have compiled some common mistakes. Take a look at them to avoid those:
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