Hidden Benefit of Income Tax Return Filling For accidental claim in third party Insurance Life is uncertain , this is one of the rare benefit of filing the ITR every year .It does not bother if the income barely touches or crossing the taxable limit . If you keep filing ITR of yourself or spouse,… Read More Hidden Benefit of Income Tax Return Filling
Black money holders who have disclosed their illgotten assets during July under the ongoing compliance window will receive acknowledgement from the tax department by August 30. Since the government has extended the deadline for payment of tax and penalty under the Income Disclosure Scheme (IDS), necessary amendments have to be carried out in Form2, which… Read More Black Money Holders will be Acknowledged by CBDT by 31st August16.
Why You Must File Your Return of Income within Stipulated Time Frame:- July 31st is fast approaching and once again it’s time to file Income Tax Returns. On and around the due date, the I-T website becomes the country’s most visited website; its servers handle thousands of users per minute, which could possibly cause the website… Read More Why You Must File Your Income Tax Return Inspite of TDS Deduction by Employer
*Income tax deduction for AY 16-17* *“`Section 80c“`* 🏻The maximum tax exemption limit under Section 80C has been retained as Rs 1.5 Lakh only. The various investment avenues or expenses that can be claimed as tax deductions under section 80c are as below; *PPF (Public Provident Fund)EPF (Employees’ Provident Fund)* *Five year Bank or Post office Tax… Read More Income Tax Deductions 2016-17
3CD New Formats in Excel & Word FY 2013-14 Format_NEW Form 3CD in Excel
Register and Track your PAN CardRelated Complain online and Track Status – Income Tax Department has started a website namely Sparsh India to help Assessee to Register their complain related to PAN Card applied through NSDL or UTIISL and they can also check the status of their grievance online. Nature of Complain may be any of the following:- Nature of Complaint Neither PAN Number nor PAN… Read More Register / Track PAN Card Related Complain / Status
The Income Tax Act provides that on determination of the gross total incomeof an assessee after considering income from all the heads, certain deductions therefrom may be allowed. These deductions detailed in chapter VIA of theIncome Tax Act must be distinguished from the exemptions provides in Section 10 of the Act. While the former are to be reduced from… Read More Deductions available to Assessees having income from salaries