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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Tue, Nov 07, 2023
Don't assume that all transactions between spouses are tax-free. There are some nuanced rules to be aware of, especially when it comes to gifts, investments, and rental income. In this video, we'll break down the key tax implications to keep in mind when dealing with your spouse financially.
Fri, Sep 15, 2023
The new 20% TCS rule on international travel is coming into effect on October 1st, 2023. Here's what you need to know about how it will impact your travel plans and how you can save money.
Wed, Jul 19, 2017
As per the Section 194J of Income Tax Act, employers need to deduct tax deduct at source (TDS) from payments made to professionals.
Tue, Jul 18, 2017
Once the income tax returns have been processed by the tax department, the taxpayer can make changes by filing a rectification request under Section 154(1).
Mon, Jul 17, 2017
Legally, the government allows for certain tax-saving deductions that you can use to lower your taxable income. You can effectively use these deductions to pay less tax.
Fri, Jul 14, 2017
Finance Arun Jaitley had introduced a late filing fee under new provision of Section 234F under Income Tax Act. As per the rule, taxpayer will have to pay penalty of up to Rs 10,000 for late filing of ITR.
Tue, Jul 11, 2017
Finance Minister Arun Jaitley on Monday had launched a new tax payer service module 'Aaykar Setu' in order to make income tax filing process more simpler.
Sometimes, while filing the return, you may end-up paying more tax to the government than your actual tax liability. In such cases, you are eligible for a tax refund.
Union Cabinet last month under Prime Minister Narendra Modi gave its final go-ahead to 7th Pay Commission recommendations with 34 modifications.
Mon, Jul 10, 2017
Form no 16 is issued once in a year, on or before 31st May of the next year immediately following the financial year in which tax is deducted.
According to Income Tax, the new module compiles various tax tools, live chat facility, dynamic updates and important links to various processes within Income Tax Department in a single module.
Sat, Jul 08, 2017
Government has notified to quote their Aadhaar for applying PAN. We tell you how to file your income tax returns if you have to file using ITR-4.
Fri, Jul 07, 2017
If you purchase a property of more than Rs 50 lakh value, you need to deduct TDS at 1% from the payment you have made.
Wed, Jul 05, 2017
A self-employed person needs to understand the tax treatment. From a tax perspective, self-employed individual's income is Profit & Gains of Business & Profession.
Mon, Jul 03, 2017
Even if you have left your job, your employer will provide you a Form 16. Unfortunately, this income tax form 16, cannot be downloaded from anywhere.
Sat, Jul 01, 2017
Aadhaar linkage to PAN cards can still be done. Income Tax department has issued a manual form filling procedure as well as a website and SMS method to link the two cards.
Fri, Jun 30, 2017
Linking Aadhaar becomes mandatory from July 1 but it will not make your PAN card invalid. Time period is expected to be given soon by the IT department.
Tue, Jun 27, 2017
Quoting Aadhaar card for filing IT returns will become mandatory from July 1. Here's what you need to keep in mind
Touted as India's biggest tax reform -- the Goods and Services Tax (GST) -- is all set to be rolled out from 1st July 2017.
Wed, Jun 21, 2017
Aadhaar card is a must for your Income Tax returns this year. Due date for IT returns are usually on July 31 of every year.
Mon, Jun 19, 2017
The Income Tax Department has ordered coercive action against Cairn Energy of UK, including taking away over Rs 2,000 crore dividend and tax refund, to recover part of the Rs 10,247 crore retrospective tax.
Fri, Jun 16, 2017
Among the metros, the Mumbai zone registered the highest revenue collection growth during the period with a growth of a whopping 138 per cent at Rs 22,884 crore from Rs 9,614 crore a year ago, sources at the income tax department here told PTI today.
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![Demystifying the New "Discard" Option in Income Tax Returns: A Comprehensive Guide for Taxpayers](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_160x90/public/2023/12/04/00000022.jpg?itok=LA5Ghiab "Demystifying the New "Discard" Option in Income Tax Returns: A Comprehensive Guide for Taxpayers")
![Income Tax: FM Arun Jaitley launches "Aaykar Setu"](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_160x90/public/2017/07/10/21573-arun-jaitley-aaykar-finmin.jpg?itok=zT8ir9yn&c=4bb4f4728ccbc455c3a1da3908f7ec4b "Income Tax: FM Arun Jaitley launches "Aaykar Setu"")
