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ITR-4
Income Tax e-Filing, Latest News

Form ITR- 4 also popularly known as Sugam applies to i.e. can be filed by these people under the income tax provisions, namely, Individuals, HUFs and Firms (other than LLP), who are residents of the country and having total income up to Rs.50 Lakh in the previous year and They are deriving such income from business and profession, computed by sections 44AD, 44ADA or 44AE on the presumptive basis. Non Applicability of Form ITR 4 We have already understood the cases in which Form ITR 4 can be filed. But,SEE DETAILS

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Form-ITR-1-sahaj
Income Tax e-Filing, Latest News

The time of the year is back when the people under the purview of income tax have to calculate their earnings of the previous year and ascertain the amount of tax that they are required to pay. Every year, for this purpose Income Tax department, launches its utilities form for the ease of the user to calculate their tax liability and submitting the return thereof. ITR-1 SAHAJ ITR-1 Form a.k.a Sahaj, as the name suggests, is one of the easiest income tax return form. The excel utility of this formSEE DETAILS

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ITR-Forms-For-FY-2018-19(AY-2019-20)
Income Tax e-Filing, Income Tax Help, Income Tax Learning, Latest News

With the beginning of the new financial year, time for settlement of accounts and disclosing what one has earned in the previous year arrives. Such disclosure is required to be filed in the form of returns prescribed by Income Tax which are known as Income Tax Return (ITR) Forms. As always CBDT has notified the Income Tax Return forms for FY 2018-19( AY 2019-20). These ITR forms contain fields to furnish the relevant and required information. There are different ITR forms for different categories of taxpayers/ assessee/ user. In thisSEE DETAILS

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No tax on income of Rs 9.5
Income Tax e-Filing

The Interim Budget 2019, since it was announced on 1st Feb is constantly being backfired with questions. In response to the latest one Finance Minister Piyush Goyal said, Now individuals earning upto Rs 9.5 can escape tax liability by taking the advantage of saving schemes. You might have already read and calculated tax saving on income upto Rs 5,00,000, Rs 6,50,000 or Rs 7,00,000. But surprised to come across this new figure of Rs 9,50,000? Yes, this is possible with investing in some of the popular tax saving avenues. LetSEE DETAILS

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

Process to download and send ITR-V to Income Tax Department – CPC The task of ITR just does not get over with submitting it successfully. It ends from your side after the verification of Income Tax Return has been successfully done. What is verification of Income Tax Return? After filing of the tax return Income Tax Department seeks from us the confirmation. It is generally for the purpose that the return has been filed as per our knowledge. No return is valid or processed at the centralized processing center, BengaluruSEE 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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