The government has notified new Income-Tax Return (ITR) forms for 2018-19. These forms require some additional disclosures from assessees. Archit Gupta helps understand these changes in this
Category: Income Tax
New ITR form seeks salary break-up, more disclosures from taxpayers | Business Standard News–09.04.2018
New ITR forms seek more disclosures The new Income Tax Return (ITR) forms released for the assessment year 2018-19 seek more details from taxpayers than they did in the previous
Income Tax Return: Missed the March 31 deadline to file income tax return? Here’s what you can do–Economic Times–08.04.2018
March 31, 2018 was the deadline to file income tax returns (ITR) for the financial year 2015-16 and 2016-17. In case you haven’t filed your ITR for FYs 2015-16
Income Tax–Pre-populated forms, not more paperwork–Economic Times–08.04.2018
It is unfortunate that the new income-tax return form makes filing of tax returns more cumbersome for salaried taxpayers, whose taxes are assiduously deducted at
CBDT to mine GST data to check evasion – Business Line–08.04.2018
The Income Tax Department wants to mine the GST payments data of businesses to ensure that no income goes untaxed. The Central Board of Direct
New ITR Forms | Income Tax: Income tax department wants to know a little bit more about you–Economic Times–07.04.2018
Certain types of taxpayers are now required to mention registration number of the firm of chartered accountant which has done audit for the tax return.
New ITR forms notified; salary breakup, GST ID to be furnished | Business Standard News–07.04.2018
The new Income Tax Return (ITR) forms for the assessment year 2018-19 were notified today by the Central Board of Direct Taxes that mandated salaried class assessees to provide their
Standard deduction of Rs 40,000 allowed on pension from ex-employers, says I-T Department–Business Today–06.04.2018
Pensioners can also avail the standard deduction of Rs 40,000 that was extended to salaried persons under Budget 2018-19, the taxman has clarified. The Central
Income Tax Return: Income tax return forms for FY 2017-18 released–Economic Times–06.04.2018
CBDT has released the new income tax return forms for filing returns for the financial year 2017-18. The Central Board of Direct Taxes (CBDT) has
Direct tax collections up 17.1%, touch ₹9.95 lakh crore in FY18 – Business Line–03.04.2018
The Centre has “broadly met” its tax collection targets for 2017-18, despite uncertainty from the Goods and Services Tax and is meeting the fiscal deficit
Income tax: How your financial life is going to change completely from April 1 – The Economic Times–01.04.2018
All taxpayers will pay a bit of more tax due to hike in and education cess. Budget 2018 had proposed to hike cess on income
Here’re the key tax changes that will come into effect from April 1, 2018 | Business Standard News–30.03.2018
Several budget proposals including the reintroduction of the tax on long-term capital gains(LTCG) exceeding Rs 100,000 from the sale of shares will kick in from April 1, the beginning
Income Tax alert! Top 3 tasks you need to do by March 31 – Check full list here – The Financial Express–28.03.2018
With just a few days left for the financial year to end, here are three tax related tasks—filing returns of previous years, investing in tax-saving
Income Tax liabilities calculation for FY2017-18: How to do; all you need to know – The Financial Express–28.03.2018
The amount of income tax is calculated on the basis of tax slabs. There are various Income Tax Slabs specified by the government. At this
Made a mistake while filing tax returns? Here’s how you can fix it | Business Standard News–20.03.2018
Every individual whose income exceeds the basic exemption limit of Rs 250,000 must file an income tax return. This limit is Rs 300,000 for those
All you wanted to know about indexation – Business Line–20.03.2018
Stock market investors want it, but the finance minister isn’t keen to grant it. No, we aren’t referring to the part of a book that
TDS on rent and other tax tasks to complete before March 31 – The Economic Times–17.03.2018
There are just a couple of weeks left for the current financial year to come a close, which means that it will be the end
Income Tax Notice: 6 tax notices you may get and how to cope with them – The Financial Express–15.03.2018
While income tax notices may not be as exciting as the fake winning prize notices, they are real and the prize that you will receive
Why a constructive debate has opened up with regard to the imposition of LTCG tax – The Financial Express–15.03.2018
The CBDT is absolutely correct in stating that it was not the Kelkar 2002 task force that recommended the abolishment of the LTCG tax. It
Central Board of Direct Taxes–Little to fear from LTCG-tax regime – The Financial Express–Surabhi Ahluwalia, Official spokesperson, 08.03.2018
LTCG on unlisted equity shares continued to be taxed after providing for indexation. The author has stated “that the LTCG formulation is not only flawed
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