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Income Tax e-Filing, Income Tax Learning

How to file an Income Tax Return? This question has been creating a lot of buzz for quite some time now as the tax filing season is at its peak. Also, tax return filing is a lot different this year as for all taxpayers this is their first return post demonetization.However, the last date for filing the Income Tax return for Financial Year 2016-2017 (Assessment year 2017-18) is 31st July, so now you have a day left to file your ITR. Below are listed all the important links which wouldSEE DETAILS

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Income Tax e-Filing, Income Tax Updates

Income Tax Department has introduced New ITR Forms for Financial year 2016-17.Main Objective behind introducing these changes :-Simplifying the complex tax return systemIncreasing the number of taxpayer in the countryReducing the compliance burden on the tax filers.Changes made in the new ITR Forms-New ITR Forms:The number of ITR Forms reduced from nine to seven for the F.Y. 2016-17 filing.The old ITR 2, 2A and 3 gets merged into a single ITR form as ITR 2.The old ITR 4 now renumbered as ITR 3Old ITR 4S (Sahaj) also renumbered as ITRSEE DETAILS

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pay income tax online
Income Tax e-Filing, Income Tax Help

Want to pay income tax before the last date to avoid penalty? Here’s is a step-by-step guide for online income tax payment using government’s website:Step 1:Click on Link: https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp       Step 2:Under applicable challan, Click on Challan no./ ITNS 280 – Payment of Income tax / Corporate taxStep3:: Fill in your details in the Income Tax Challan-If you are an individual , select (0021)INCOME-TAX (OTHER THAN COMPANIES) under tax applicable.Fill in your PAN No. and Assessment Year (A.Y.) correctly . A.Y. is the next year to financial year(F.Y.) –          SEE DETAILS

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Blogs, Income Tax e-Filing

Yes you read that right! The process of e-filing the income tax return usually consumes your whole day. But now we have cut it down to the process of just minutes! Have you ever wondered why it takes so much time to file our returns online? Well  the obvious answer is that “It is very complicated and complex task”. Given the existing process, We can totally understand that e-filing an Income Tax Return through the Income tax department’s website is not a child’s play.Don’t know the benefits of filing ITR?SEE DETAILS

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Season of income tax returns has commenced. You need to show  your Income to Income Tax Authorities on or before 31st July. By now, you must have received Form-16 and an instruction to file itr as soon as possible from HR Managers. But before you start with filing process, let’s look upon the common mistakes that people usually commit at the time of filing returns:Not reporting interest from Saving bank accounts, Fixed deposits etc. – Interest earned on saving bank account balances or on fixed deposits should be duly reported inSEE DETAILS

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How can I verify whether TDS deducted on account of payment made to me by another party has been deposited to Govt. treasury or not?How can I check whether advance tax paid has been booked against my PAN no. or against another PAN no. by bank erroneously?How can I check the total tax amount refunded by Govt. in the relevant F.Y.? Many Questions: One Answer; 26AS26AS is a statement which shows income tax credit for a particular PAN. It shows the total amount of TDS/ TCS/ Advance tax/ Self assessmentSEE DETAILS

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Income tax department [vide its circular no 41/2015 dated 15.04.2015 issued by CBDT]  announced that taxpayers who filed their income tax returns online will no longer have to send the paper acknowledgement by post to CPC Bangalore, if they have aadhar card which can be used for verification purpose.Instead of manual verification, a new Electronic Verification Code has been introduced to verify the e-return.In case of returns for Assessment year’s 2013-14 and 2014-15 filed electronically (without digital signature certificate ) between 01.04.2014 to 31.03.2015, time limit for submission of ITR vSEE DETAILS

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Gone are those days when you used to file your returns with a pen and a pencil in hand, struggling with the lenghty forms. E-filing is the new way to file your taxes with the income tax department.E-filing is a very simple process of submitting your documents electronically to the Income Tax Department. E-filing offers a lot of benefits to the taxpayers; making their life very easy and hasslefree.Here are the benefits of filing the return online:Quick Processing – E-filing of the returns has made the filing process go quicker.SEE DETAILS

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