Category: Income Tax

Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-cash-withdrawals-file-itr-2-or-3-to-claim-tds/2591831/ An assessee cannot claim credit for TDS on large cash withdrawals under Section 194N in Form ITR 1 even if his taxable income

Clipped from: https://www.businesstoday.in/latest/trends/story/income-tax-returns-here-are-some-common-mistakes-you-need-to-avoid-while-filing-for-itr-341244-2022-07-12 Any mistake while filing ITR can lead to a penalty or tax notice from the Income Tax Department. Follow the steps to know

Clipped from: https://www.business-standard.com/article/pf/five-key-benefits-of-filing-your-income-tax-return-by-the-due-date-122071200862_1.html Filing ITR is mandatory in order to claim deductions under Chapter VI and exemptions on long-term capital gains; but there are other benefits

Clipped from: https://www.financialexpress.com/money/income-tax/10-taxation-and-investment-related-benefits-exclusively-available-to-senior-citizens/2591270/ Here are 10 investment and taxation related benefits that are exclusively available to senior citizens. There are several tax benefits available to senior

Clipped from: https://economictimes.indiatimes.com/wealth/tax/own-two-houses-heres-how-to-claim-tax-deduction-on-hra-and-home-loan-repayment/articleshow/92804548.cms Synopsis A self-occupied house gives you two avenues of saving taxes which are the payment of interest and repayment of principal. You can

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-what-if-your-employer-calculates-hra-exemption-incorrectly/article65615619.ece You may claim the correct exemption amount while filing your return of income for the respective year I want to know about HRA

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-calculate-taxable-income-for-fy-2021-22-to-file-income-tax-return-itr/articleshow/92695341.cms Synopsis An individual earns income from various sources such as salary, rent, capital gains, interest income etc. An individual taxpayer must ensure that

lipped from: https://www.thehindubusinessline.com/economy/feedback-tool-on-ais-aims-to-help-it-assesses-to-remove-mismatch-eliminate-fear-of-scrutiny-says-official/article65611986.ece AIS can be accessed through new income tax e-filing portal and is soon set to replace Form 26AS The Income Tax Department has

Clipped from: https://www.business-standard.com/article/markets/long-term-capital-gains-tax-relief-will-be-a-game-changer-for-the-markets-122070600300_1.html Retail investors in India are by default optimistic. They are strong believers in the long-term story of India, and rightly so, says Sandeep

Clipped from: https://www.financialexpress.com/money/income-tax/itr-filing-due-date-2022-last-date-to-file-income-tax-return-for-individuals-huf-firms-late-fee-explained/2584662/ Income Tax Return (ITR) filing due date 2022 is near. It is important for every taxpayer to file their ITR before the last

Clipped from: https://economictimes.indiatimes.com/wealth/tax/tax-dept-will-not-pay-you-income-tax-refund-of-this-amount/articleshow/92274882.cms Synopsis In case, there is an income tax refund due to you as per the income tax department’s calculations, it typically gets credited

Clipped from: https://www.thehindubusinessline.com/economy/agri-business/tds-on-free-trade-samples-nilgiri-bought-leaf-tea-manufacturers-seek-boards-clarity/article65599197.ece Move follows amendment to Sec 194(R) of I.T. Act from July 1 The Nilgiri Bought Leaf Tea Manufacturers Association has expressed its inability

Clipped from: https://www.business-standard.com/article/pf/form-and-fit-documents-you-must-keep-handy-to-file-income-tax-returns-122070101125_1.html The documents you collect for this purpose will prove handy if an assessing officer conducts inquiry The due date for income tax return

lipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-to-make-a-family-trust/article65560360.ece Income earned by the Trust in the nature of interest and dividend income would be taxable Myself and my wife are tax assessees.

lipped from: https://www.financialexpress.com/money/income-tax/taxpayers-face-issues-accessing-e-filing-portal-infosys-taking-measures-says-it-dept/2580625/ “It has been noticed that taxpayers are facing issues in accessing ITD e-filing portal. As informed by @Infosys, they have observed some irregular