Category: Income Tax Learning
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Is NRI having Interest income from NRO account required to file Income Tax Return in India?
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…
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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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Is your money black?
Have these thought often made you tensed, whether the income you have earned can ever be seized by income tax department?? Is Your Money Black money too?? What if anyone comes to know about your savings, jewellery and properties?? Relax, if you have purchased any asset from your legal income (income reported to tax department)…
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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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Know How to Reduce Your Tax payments with spouse
Your partner can help you with managing household chores, also with sharing the financial responsibilities then why not with saving taxes?? Yes, your partner in crime can now be your tax saving partner as well. You might have heard about the clubbing provisions that income invested in one’s name gets added in the name of…
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GIFTING – Does not attracts TAX!!
GIFT is such an alluring term!! It’s always joyous to exchange gifts with your loved ones. May it be on occasions of elders visiting us, birthdays, anniversaries, success party or specially marriage. Then what restricts us from making high value transfers??? The implication of tax provisions will be the top reason working as a…
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5 Important Things To Do Before 31st March 2018
The echoes of 31st March being crucial date for income Tax filing are heard everywhere. But, do you really know how does it affect you?? What will you miss if you do not abide by the deadline?? Or what are the things you will be benefited in most if, you avail advantage of the…
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Should You Hire a CA to File Your Income Tax Return?
Managing taxation affairs is a tedious task. After all, its about so many income heads, so many deductions, so many exemptions, so many due dates, so many consequences..to be adhered. No doubt…you too are planning to take assistance of a tax professional?? Which wise person will choose not to take an experts advice for…
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What will happen if I do not file my Income Tax Return (ITR) ?
Due Date Extended !!Due date for Income Tax Return filing has been extended from 31st July 2019 to 31st August 2019 by the Income Tax Department Have this thought ever striked your instincts – What will happen if I do not file income tax return ?? If yes, you must have dropped this thought!! And…
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16 Mistakes to Avoid Delay in Getting Income Tax Refunds
Income tax refunds is the most awaited thing after filing your Income Tax Return (ITR). Why not?? After All it’s your hard earned money!! You might have lined up lot of important expenditures in anticipation of your dream refunds. But, what if your TDS refund is not coming in your account, when everyone around you…