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Blogs, Income Tax e-Filing, Income Tax for Starters (Basics), Income Tax Help, Income Tax Learning, Income Tax Updates

 As a taxpayer we always feel burdened with tax payments:(Empathising with your situation, government came up with Rebate u/s 87A in Budget 2013, to reduce the burden of taxes. Let’s understand how you can take advantage of income tax rebate under section 87A in simple language!What is Rebate under section 87A of the income tax?Rebate u/s 87A provides exemption on tax payment to a RESIDENT INDIVIDUAL. As per this provision, if an individual’s taxable income is upto Rs. 3.5 lakhs then he will get the benefit of Rs. 2500 orSEE DETAILS

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Blogs, Income Tax e-Filing, Income Tax for Starters (Basics), Income Tax Help, Income Tax Learning, Income Tax Updates

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.,“Listening to radio ads for 5-6 times of income tax department while on the way to your office was not common at all 2-3 years back and on social media too the department is active likeSEE DETAILS

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Blogs, Income Tax e-Filing, Income Tax Help, Income Tax Updates

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 2016-17, you cannot file a belated return anymore. But, if you are reading this blog you have most probably missed the deadline and want to find whether there is still any Chance.Things that can be doneSEE DETAILS

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Blogs, Income Tax e-Filing, Income Tax Help, Income Tax Learning, Income Tax Updates

 What marks the beginning of filing income tax return is issuance of ITR forms by the tax department. ITR forms are issued yearly for respective assessment years. The fiscal year 2017-18 has recently been closed, the return for which will be filed till 31st July or 30th Sep 2018. These due dates are the last dates to file return of income. In case you love to be proactive, returns can be filed soon after 1st April following the FY. (provided tax department has released the ITR forms). It’s time toSEE DETAILS

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Blogs, Income Tax e-Filing, Income Tax for Starters (Basics), Income Tax Help, Income Tax Learning

Income tax return filing, this one term has so much embedded in it. There are a series of activities which take place after filing ITR. The return shall be submitted, verified and processed. How to be sure that the return you filed has actually reached to the Income Tax Department?Being income tax filers we all have fear and anxiety to know our ITR status. The return status can be checked online by making a login to https://www.incometaxindiaefiling.gov.in/homeThereafter you have two routes to check your Income Tax Return status1. Directly throughSEE DETAILS

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Blogs, Income Tax e-Filing, Income Tax Help, Income Tax Learning

 It was time of month again, when pension will be credited to Mr Sharma’s account. While being delighted of the thought…suddenly he realised, he skipped filing ITR for AY 2016-17 and AY 2017-18. And, the last date of filing has approached quite close (i.e. 31st March 2018). Mr. Sharma didn’t forgot to file his return by the due date, rather, he kept on delaying because he was unsure about the manner one should file Income Tax Return for Pension Earners.. Through this blog post we try to help Mr. SharmaSEE DETAILS

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Blogs, Income Tax e-Filing, Income Tax Help, Income Tax Learning

 NRI comes with a bundle of increased responsibilities. You need to comply with both Indian and international taxation laws. After leaving India, many people do not have any income source in India other than Interest Income from NRO account. The next question that comes to one’s mind is “Is NRI having Interest income from NRO account required to file income tax return in India?” Well, the answer to this question is both yes and no. Let’s discuss in detail..Our discussion will be sub-categorised into sequential series of questionnaire, namely,Who isSEE DETAILS

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Blogs, Income Tax e-Filing, Income Tax for Starters (Basics), Income Tax Help, Income Tax Learning, Income Tax Updates

 With 31st March 2018 ending in next 168 hrs , it is very important to have knowledge of Revised Returns. Its comprehension becomes even more vital  because“ ITR FOR AY 2016-17 COULD NEVER BE FILED & REVISED LATER THAN 31ST MARCH 2018”What is Revised Return?When you have already filed an income tax return for the relevant assessment year, any subsequent return filed for the same period is known as Revised Return.The need for revising return arises because no matter how precautious one takes while filing the return, there is alwaysSEE DETAILS

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Blogs, Income Tax e-Filing, Income Tax Help, Income Tax Learning, Income Tax Saving

The best thing about filing taxes is waiting for your refund to come!!But, just filing return does not necessitates receiving of refund. The refund is issued to only those taxpayers, who have paid extra taxes and disclosed this fact while filing income tax return for the period.What is Income Tax Refund?Income Tax Refund arises in a financial year, when you’ve paid more tax (either by way of TDS or Advance Tax or Self-Assessment Tax) than you’re supposed to after taking into consideration all the deductions and exemptions at the timeSEE DETAILS

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Blogs, Income Tax e-Filing, Income Tax Help, Income Tax Learning

 The real task of a person filing income tax return is succeeds filing ITR. A number of events like verify your ITR, reply to notices etc take place thereafter.What if you found some material corrections are needed after filing ITR?? If you desire to make some changes in the return which you can apparently notice from records, place request for rectification of return. The changes sought can be like TDS mismatch or wrong entered when compared from 26AS. Rectification is normally next to receiving intimation u/s 143(1). But, if thereSEE DETAILS

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