Category: Income Tax for Starters (Basics)
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7 Must Have Documents While Filing ITR 1 Sahaj Form
Imagine you are in middle of something important like filing ITR & all of a sudden you realize that a document is missing. It feels frustrating right?That’s why we bring to you some last minute must have documents while filing your income tax return.Although, there are many different ITR forms and the requirement of documents…
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Do I need to file ITR if TDS is already paid?
Are you earning salary income? Then you must have thought, at least once in your career, that since TDS is already deducted so I don’t have to file income tax return. This is a very common notion among-st salaried individuals like you & me. And because of this, many of us do not file income…
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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.,…
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How To Check If My ITR Is Filed With Income Tax Department
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…
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Is It Mandatory to file Income Tax Return?
The question whether filing ITR is mandatory, depends on a number of factors like income, age, residence etc. Even if a person does’t fall in these categories he can still file ITR to enjoy many benefits. Such as getting refunds, applying for loans, applying for tenders, startup funding etc. Before going further into the…
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Charging Interest u/s 234B and 234C in your ITR
While checking the acknowledgement of your ITR filed, you might have sometime witnessed interest u/s 234B and 234C. Looking at it you are left confused and find hard to interpret the reason of such levy. We help you grasp all about, why such amount is charged in your income tax return. What is 234B and…
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Revise your income tax return u/s 139(5) before 31st March
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…
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Basic Income Tax terms that everyone should know
Filing Income Tax returns, paying taxes and understanding the tax terminologies seems to be such an impossible thing to do. You might have sometime tried hands upon these things, but, would have returned unsuccessful. We will try help you decode the basic terms and all such things necessary to make Income Tax Filing easy for…
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Is Your Employer defaulter in Rs.3,200 crore TDS scam?
Yet another scam!Rs.3,200 crores!!!This time it is TDS…Tax Deduction at SourceWell, you heard it right.The IT department unveiled Rs. 3200/- crore by 447 cases.These companies dutifully deducted the TDS at the time of payment of money, as required by the income tax law but did not deposit the same in the government treasury. Yes, they kept…
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Income Tax Calendar 2018: Important Tax Due Dates & Deadlines to Remember
Missing an Income Tax Deadline can lead to the bombardment of the Income Tax Notices leading to the penalty and prosecution for you:(Scary!!!RightDon’t worry you can easily avoid these expensive mistakes! Just mark your calendar with all the Income Tax Deadline (Due Dates) for F.Y. 2017-18(AY 2017-18) for the month of March 2018 and never miss…