Category: Income Tax Learning
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Why Not Filing ITR Can Be Costly For You
If you are thinking of not filing ITR (Income Tax Return) then better think again! Such kind of decisions can create lot of troubles for you in the long-run. And in case you own house, car etc then you could be under scrutiny of the Income Tax Department. As per the latest updates, IT Department…
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5 Common Tax Breaks You Don’t Want To Miss | ITR FY 2017-18
Are you filing income tax return for FY 2017-18? Then you surely are in a rush because the deadline is already on head i.e. 31st July, 2018. But as the wise one’s said, “Relax! Take a break & recharge yourself”. That’s why we are here, to recharge & introduce you with some common income tax…
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Digital Signature for ITR Efiling
If someone who owes you money, give a cheque without his/her signature, will you take it? It’ll be a direct No! A cheque’s worth, without the owner’s signature, is nothing. Similarly, have you ever thought, we send/ receive many documents online through emails etc. So what’s the surety that person on the other end is…
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How to fill exempt income details in ITR 1 Form?
I recently caught up with a school friend of mine. What a great time we had! Recalling all those funny moments, making fun of teachers, sports day fun & sometimes getting into trouble. And then our topic shifted to politics, economics and other random stuff. All of a sudden my friend asked me, “I am…
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Things You Need to Prepare Before Filing ITR 1 for FY 2017-18
31st July is already being in talks. Specially for the newly levied penalties under section 234F, which can cut down your pocket up to additional ?10,000/-. Before you start filing ITR for FY 2017-18, let’s get handy with the documents and details needed in the process. For a hassle free ITR filing, first requirement is…
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ITR Filing: 11 Frequently Asked Questions on Income Tax Return Filing
When it comes to filing Income Tax Return (ITR), most of us get scared. We have created an air of fear around the whole concept of income tax. This fear is nothing but lack of knowledge & guidance related to income tax return filing. With the aim to relieve everyone of this fear & reluctance.…
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How do I Fill Salary Details in ITR 1 Sahaj Form for FY 2017-18
Do you earn income from salary? Then you must be worrying about filing your ITR 1 form FY 2017-18. Well, it’s a topic worth worrying coz of new salary details asked by the Income Tax Department. Till FY 2016-17, while filing income tax return (ITR), the only details required were of gross salary/ pension income.…
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Section 80 Deduction | Deduction u/s 80DD, 80DDB, 80U
Contents :- Section 80DD Deductions Section 80DDB Deductions Section 80U Deductions In today’s modern era, we spend a lot of money on health-care, be it for ourselves or our family. So does our Government by taking steps towards public welfare. And these steps are taken in the form of income tax deductions, new laws etc. …
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How To Fill Deductions In ITR 1 Sahaj Form
Do you want to save money? The answer to this question is an obvious YES! Who doesn’t want to? We’ve got some good news for you. If you are filing your ITR using form ITR-1 or Sahaj Form then you can save lot of money. You must be aware that income tax return is required…
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Income Tax Deduction | Section 80TTA & Section 80TTB
Contents :- What is Section 80TTA? What is Section 80TTB? Amendment in TDS laws Conclusion Since our childhood we’ve been taught to be frugal & save money. This teaching of our parents resulted into opening up of savings bank account by most of us. But when we earn interest on those savings, it becomes chargeable…