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Tax-changes-from-April-2019
Income Tax Updates

Financial Year 2019-20 has begun!! April 2019 welcomes the beginning of the new financial year. What could be more interesting than taking a note of important tax provisions this very day!! Why to wait for the financial year to end and make tax planning a rush?? Let’s become a pro and know the 5 major tax changes pronounced in Interim Budget 2019. Mr Piyush Goyal presented the interim budget 2019 and some distinguished tax amendments were made. In this blogpost we have briefed five must know tax changes affecting yourSEE DETAILS

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Income Tax Updates

What is UIDAI? What is its full form?UIDAI refers to Unique Identification Authority of India. It is established under the provisions of Aadhaar Act 2016 [ i.e. Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016]. UIDAI is a statutory body established by the Government of India vide its notification no 13012/ 64/ 2016 dt 12 July 2016 under the Ministry of Electronics and Information Technology (MeitY). It is entrusted with the objective to issue Unique Identification number (UID) to citizens of India named as Aadhar.SEE DETAILS

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Income Tax Updates

Aadhar being the key document now a day has so much embedded in it to be still discovered. We all have got our UID cards issued and use it as a basic document of identity in all sectors. Whether it is about opening a new bank account, making some financial transaction, getting your passport done, applying some government done and such other endless avenues aadhar is the first and foremost presented document. It gives a unique identity to every citizen of India possessing it. Today, We bring some fun factsSEE DETAILS

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Income Tax Updates

31st March 2019 marks the end of Financial Year 2018-19. But, it also brings with itself a series of very important and crucial financial deadlines. Every taxpayer shall take care of these deadlines and prepare well in advance to avoid penalties and notices from the Income Tax Department.   Last date to File ITR for the Financial year 2017-18 For the Financial Year 2017-18, the last date to file the Income Tax Return is 31 March 2019. After this date, you cannot ever file ITR for F.Y. 2017-18 (Assessment YearSEE DETAILS

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Sachin Tendulkar
Blogs, Income Tax e-Filing, Income Tax Learning, Income Tax Refund, Income Tax Updates, Latest News

If you are also amongst those who invest a considerable amount in shares then you need to know this!! If the frequency of transactions is high, then that has always been a debatable issue in income tax that whether income is to be treated as capital gain or business income. Recently, the Same issue happened with India’s Master Blaster – Mr. Sachin Tendulkar. But before having a look on his case, let’s first quickly understand the Impact on your taxes under both the situations :1. When your Investments are taxableSEE DETAILS

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Walmart and Flipkart Deal
Income Tax e-Filing, Income Tax Learning, Income Tax Updates, Latest News

It won’t be wrong to say that the founders of a Startup are the most stressed person in their company. They leave all their comforts and do hard work day and night just for one cause – one day their company will reach a great height. They have to take care of everything. From generating business to paying salary, from taking strategic decisions to solving internal matters and the list is literally endless. This fact can be proved by the recent “Walmart-Flipkart Deal”. Although it made Bansal Buddies billionaires overnightSEE DETAILS

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Invalid ITR V
Income Tax e-Filing, Income Tax for Starters (Basics), Income Tax Help, Income Tax Learning, Income Tax Refund, Income Tax Updates, Latest News

Filed your return before the due date but forgot to verify before the expiry of time limit? Then in such case, your ITR has become an invalid ITR and now you would have to file the ITR again. Surprised? Yes, you heard it right. Now, you need to file your ITR as a belated return. Don’t know why? Let’s get the insight into the matter :What is Verification of ITR?Verification of ITR means to authenticate the ITR. In simple words, the Income-tax department asks you to verify the ITR so that itSEE DETAILS

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Change in PAN
Blogs, Income Tax Help, Income Tax Updates

PAN Card or commonly known as Permanent Account Number is a very important document for undertaking financial transactions. For e.g., if you want to trade in share market then to open a Demat Account, quoting PAN is mandatory.Hence any change or amendment in PAN rules is sure to watch out for. Recently, CBDT introduced some new provisions regarding the applicability of PAN Card. What? You don’t know about them? Chillax! No worries when we are here for you my dear amigo.Let’s understand the amendments in a simple, and easy manner.WantSEE DETAILS

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Income Tax Updates, Latest News, News

When the #MeToo Movement hit India, it opened up a Pandora’s box. So many brave women (in even some cases men) came out and shared their scandalous experiences. #MeToo wasn’t just limited to the entertainment industry, this storm engulfed finance, and the political sector as well.Then how can the Income Tax Department stay far behind from the #MeToo storm? Before you think of something scandalous, let us clear the air. We are talking about the recently pronounced judgement of ITAT in Sushmita Sen’s case. Still got no clue? No worriesSEE DETAILS

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Section 23(1)(c)
Blogs, Income Tax Help, Income Tax Learning, Income Tax Saving, Income Tax Updates, Latest News, News

Recently, Mr. Sachin Tendulkar got a favorable ruling from a tribunal over a tax disputed case on one of his vacant property. If you are also the owner of more than one house then you definitely need to read this !! Let’s have an overview of his case and find out how it may help you.Facts of the Case:Mr. Sachin had two properties in Pune, one in Treasure Park and another one in Sapphire Park in F.Y 12-13. Now, in the ITR of F.Y 12-13, only the Rental income fromSEE DETAILS

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