Category: Income Tax for Starters (Basics)

• Who should file Income Tax Return before 31 March 2018 ?

  

  (ITR for FY 2015-16 (AY2016-17) and FY 2016-17 (AY 2017-18) in India) 31st March 2018, is the last of the current Financial year. It is a very important date for all of us.As this time it is not only about the quarter end, but..this is the last date to file the Income Tax Returns for…

  sunil sharma

  February 28, 2018

  Income Tax e-Filing, Income Tax for Starters (Basics), Income Tax Learning, Income Tax Updates, Latest News

• Documents Required for Income Tax Return (ITR) filing in India

  

  Is ITR filing really that cumbersome process?? Well if you ask me it’s not really so..Here is a checklist of the most important documents for filing income tax return (ITR), to have on hand before you start filing your Income Tax Return. Keep these close and have a hassle-free ITR filing experience. Read how!! Common…

  sunil sharma

  June 28, 2017

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

• Tax Free Incomes – The Essential List Part-I

  

  Income and Tax almost go hand in hand. We know that Income earned over and above the basic exemption limit (Rs 2,50,000) is liable for income tax but are there any kind of incomes that are tax free? After all who doesn’t like earning some extra tax free money. In this first blog of 2-part…

  CA Abhishek Soni

  October 8, 2016

  Blogs, Income Tax for Starters (Basics), Income Tax Learning

• Overall Impact Of GST

  GST is brought to the footings on the notion of One nation One tax. The Tax reform is expected to bring the 2% increase in GDP and hence is expected to change the entire structure of indirect taxation.The most affected Individual shall be the manufacturer as the due to overall reduction in the ceiling limit…

  CA Abhishek Soni

  August 23, 2016

  Income Tax for Starters (Basics)

• Residential Status – Am I Resident Or Non-Resident(NRI) in India?

  

  Contents :- What is Residential Status in India? Understanding the Residential Status When does a person becomes Resident in India? Example to Explain Residential Status in India Exception to the Second Condition in case of Resident Indian Examples of residential status of an individual When does a person becomes NRI in India? How income is…

  sunil sharma

  July 8, 2016

  Income Tax for Starters (Basics)

• Should I file return for F.Y. 2015-16?

  You might be hearing income tax all around you these days. It shall be louder even more as the due date of filing income tax returns i.e. 31st July comes nearer. Everybody is so rushed up to pay his income tax or gather necessary documents to file tax return. Discussions whether to file income tax…

  CA Abhishek Soni

  July 2, 2016

  Income Tax for Starters (Basics)

• What will happen if there are no taxes?

  You’ve worked day and night last month on that big project for your boss and finally its payday. You walk in the office happy and proud. The accountant hands you your pay-slip and your mood sinks when the amount of TDS deduction catches your eye. Why? Why should the government be allowed to charge so…

  CA Abhishek Soni

  June 3, 2016

  Income Tax for Starters (Basics)

• Tax Slabs for Financial Year 2014-15 and 2015-16

  The first step to understand the workings of Income Tax in India is to be aware of the taxation slabs released each financial year by the Indian Government. The taxation slabs for the financial year 2014-15 and 2015-16 for General tax payers and Women: – Slab Income Slab (Rs.) Income Tax Rate 0 0 to…

  sunil sharma

  June 3, 2016

  Income Tax for Starters (Basics)

• Plan your taxes before its too late!

  “Nothing in this world is said to be certain except death and taxes,” said the great Benjamin Franklin. For a common man, Income tax is perhaps one of the most difficult things to understand. They fear tax and thus fall prey to high tax liabilities and to avoid that, a good tax planning becomes a…

  CA Abhishek Soni

  June 2, 2016

  Income Tax for Starters (Basics)

• Income Tax Declaration and Investment Proofs

  

  It’s almost the time to bid farewell to the financial year 2017-18 and when employees are asked to submit the ‘Investment Proofs’ to the statement called ‘Income Tax Declaration’. At the beginning of the year or at the time of joining the company, every employee is required to submit ‘Income Tax Declaration’ to his employer.…

  sunil sharma

  June 2, 2016

  Income Tax for Starters (Basics)