Mon, Dec 04, 2023
Taxpayers rejoice! The Income Tax Department has introduced a revolutionary new feature – the 'Discard' option. In this video, we’ll delve into the details of this game-changer, explaining its benefits, eligibility criteria, and the simple process of discarding your income tax return. So, whether you're a seasoned taxpayer or a first-timer, this video will equip you with the knowledge to make the most of this convenient option.
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Mon, Mar 16, 2020
Union Budget 2020 has introduced an optional tax regime aiming to simplify income tax for individual taxpayers. The new regime offers an option to pay tax at reduced tax rates, for the income bracket between Rs 5 lakh and Rs 15 lakh, in comparison to the existing regime. However, keeping in mind the simplification of tax, the new regime withdraws 70 deductions and exemptions
Tue, Mar 03, 2020
ITR Filing dates: Advance tax is the income tax payable if your tax liability is more than Rs 10,000 in a financial year; It should be paid in the year in which the income is received
Fri, Apr 13, 2018
When you sweep funds out of an equity or debt fund it will be treated as a sale and taxed accordingly. If you are sweeping money out of debt/liquid funds into equity then any sale before three years will be short-term capital gains (STCG) and will be taxed as per your slab rate. Alternatively, any sale after three years will be LTCG and will attract tax at 20% after indexation.
Mon, Apr 02, 2018
The deadline for filing income tax returns for financial year 2015 -16 and 2016-17 passed on March 31, 2018.
Sun, Apr 01, 2018
Income tax returns filing: Here are the key changes in rules that will come into effect from April 1, 2018. Watch this clip to know more.
Thu, Mar 29, 2018
Tax saving investments: A community of late taxpayers are now running from pillar to post looking for tax saving investments. Well, here's a list of schemes offered by government to private and public sector employees.
Tue, Mar 13, 2018
Bitcoin remained the only cryptocurrency till 2011 holding 100% market capitalisation, but after 2011, over 1500 virtual currencies came into existence.
Mon, Mar 12, 2018
Income tax returns (ITR) filing: many countries all over the world including India do not yet recognise Bitcoin or other virtual currencies as legal tenders. Some countries like US, Canada and Australia have supported the use of Bitcoin. Regardless of its legal status, people still continue to invest in them as returns on them are very high compared to other financial instruments.
Fri, Mar 09, 2018
Income Tax Returns (ITR) filing deadline: From April 1, 2018, the penalty has been fixed at Rs. 5000 for all delayed ITR filings before Dec 31, 2018 and for earnings above Rs. 5000. However, the penalty has been set at Rs. 10,000 if the ITR is filed after Dec 31, 2018.
Tue, Mar 06, 2018
As per the Income-tax Act, all the companies and firms have to file the return irrespective of quantum of income or activity level. All individuals, HUFs and other persons whose total income exceeds basic exemption limit (before deductions under chapter VIA such as section 80C/80CCD/80DD/80TTA) have to mandatorily file return of income in the prescribed ITR form.
Income tax returns (ITR) filing is a must for all, but many make mistakes that can easily be avoided. It can save them a lot of money. Here is a guide that offers you tailor-made tax planning process so that you benefit the most.
Thu, Mar 01, 2018
Income Tax Returns (ITR) filing: In case you have purchased a residential property on loan, but you live in another home which you pay rent for, you can claim available tax benefit for HRA as well as against the Home Loan. The condition however, is that both rented and owned property should be in different cities.
Income tax returns (ITR) filing: In case you missed the deadline of July 31, 2017 to file your income tax return for the financial year ended March 31, 2017, you have the last chance to file the same belatedly by March 31, 2018 without any penalty.
Wed, Feb 28, 2018
Income tax returns (ITR) filing: In case you missed the deadline to file your income tax returns, you still can take this step. Here are some of the Income tax returns (ITR) filing tips that can be adhered to to avoid any mistakes or errors.
Fri, Feb 09, 2018
Filing income tax return after the due date is called belated return. It can be filed before the end of the assessment year.
Sat, Jan 27, 2018
In case someone loses their card, they can know PAN by using the facility of “Know Your PAN” provided by the Income Tax Department
Wed, Dec 27, 2017
If you are a salaried person and earn up to Rs 2.5 lakh, you are not liable to pay any income tax. However, if you earn between Rs 2.5 lakh and Rs 5 lakh, you have to pay 5% income tax.
Fri, Dec 08, 2017
The I-T department has made a provision for linking Aadhaar with PAN either through SMS or by logging into their official website.
Wed, Oct 18, 2017
A taxpayer can get their doubt answered by entering on official website of IT-department. There is an icon at the right side of website.
Mon, Aug 07, 2017
Central Board of Direct Taxes (CBDT) said, "As a result of demonetisation and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns(ITRs) filed. The number of Returns filed as on 05.08.2017 stands at 2,82,92,955 as against 2,26,97,843 filed during the corresponding period of F.Y. 2016-2017, registering an increase of 24.7% compared to growth rate of 9.9% in the previous year."
Sun, Jul 30, 2017
Return filing is nothing but a declaration from your side to the government and it reports your income from all the sources as specified under the income tax act as earned during the previous year.
Many taxpayers are facing hard times in filing their Income Tax Returns they have been requesting IT-department to extend the deadline.
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