Another Win #MeToo | Sushmita Sen | ITAT Judgement

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… Continue reading Another Win #MeToo | Sushmita Sen | ITAT Judgement

Sachin Tendulkar clean bold the Income Tax Ruling in his favor

Sachin Tendulkar got the benefit u/s 23(1)(c)

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… Continue reading Sachin Tendulkar clean bold the Income Tax Ruling in his favor

Jurisdiction free online assessment : Now no more visits to IT dept.

Jurisdiction free Online Income Tax Assessment

Received a scrutiny notice? Then the next image coming to your mind must be of an Income Tax Office. Where you might have to go again and again and wait for long hours to meet the IT Officials. Well, not anymore:)!Income Tax department has launched the jurisdiction free e-tax assessment of scrutiny cases.The system will… Continue reading Jurisdiction free online assessment : Now no more visits to IT dept.

7 Changes in ITR Form FY 2017-18 (AY 2018-19) | Extension in Due Date

Have you filed income tax return yet? If not, then it’s a must for you to know about changes in ITR form as a result of extension in due date. The extension in ITR filing due date by the CBDT has surely given a reason to rejoice for all the taxpayers. But this extension have… Continue reading 7 Changes in ITR Form FY 2017-18 (AY 2018-19) | Extension in Due Date

ITR Deadline Extended Till 31st August

26th July, 2018 will definitely become a date to remember. As of today, the Minister of Finance announced the extension of ITR deadline from 31st July to 31st August. The Ministry of Finance tweeted, “Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the “Due Date” for filing of Income Tax… Continue reading ITR Deadline Extended Till 31st August

Income Tax Deduction | Section 80TTA & Section 80TTB

Contents :- What is Section 80TTA? What is Section 80TTB? Amendment in TDS laws Conclusion Since our childhood we’ve been taught to be frugal & save money. This teaching of our parents resulted into opening up of savings bank account by most of us. But when we earn interest on those savings, it becomes chargeable… Continue reading Income Tax Deduction | Section 80TTA & Section 80TTB

Taxation on the Long term Capital Gain from 1st April 2018

Long Term Capital Gain on Equities

Introduction: You must be aware that from F.Y 18-19, Long Term Capital Gains on equities and equity fund shall be taxed under the newly inserted Section 112A under the I-T Act,1961. By the way of Budget 2018, LTCG on equities has also been brought into tax net. This move has been brought up keeping in… Continue reading Taxation on the Long term Capital Gain from 1st April 2018

Fees for Delay in Filing Income Tax Return u/s 234F

In the wake of increasing the tax payers base multifold and ensure a strong control over compliance in the country. The income tax department has been putting lot of efforts for last couple of years by constantly spreading the awareness on a mass scale via different mediums like TV, radio, newspaper ads, social media etc.,… Continue reading Fees for Delay in Filing Income Tax Return u/s 234F

Missed filing income tax return for FY 2015-2016 & FY 2016-2017

We come across a lot of people, some are always late for everything and some are bang on time. Laziness, unawareness or busy schedule whatever the reason maybe if you are one of those defaulters who missed the last date (March 31, 2018) to file income tax returns (ITR) for the financial year 2015-16 and… Continue reading Missed filing income tax return for FY 2015-2016 & FY 2016-2017