Category: Income Tax Learning
-
KNOW ABOUT TAN BEFORE DEDUCTING TDS
What is the full form of TAN? The full form of TAN is Tax Deduction or Collection Account Number. It is a 10 digit alphanumeric number which is required in case one becomes liable to either Deduct tax or Collect tax at the time of making payment to another person (i.e. liable to deduct TDS…
CA Abhishek Soni
-
All that you need to know about TDS on salary!
Do you always get annoyed that every month, some money from your salary is snatched away, before even getting it in your hands in the name of TDS or do you wonder even after paying your TDS, why do you need to file Income Tax Return? Let’s understand the ins and outs of TDS in…
CA Abhishek Soni
-
SECTION 80C – INVESTMENT TOOL TO SAVE TAXES
With every new year comes new joys, new wishes, and new hopes coupled with new responsibilities. Thus financial planning for oneself and for our family is the concern for all. There are many people who are not aware of the basic planning requirements.Thus, for the best investment , Section 80C plays a vital role. Further…
CA Abhishek Soni
-
What are the important dates that I should know in Taxation?
If you want to be tax friendly and want to save some taxes, it is important to keep a track on all important tax dates and plan accordingly. Only knowing the last date of filing Income Tax Return is not sufficient, there are many other key dates as well which one needs to mark on…
sunil sharma
-
Where is my Refund?
Are you unable to understand why you have still not received your Income Tax Refund?? Even after filing your Income Tax Return on time!! Don’t worry… There are some common mistakes that you might have been doing till now…but no more!! As per the Income Tax Department, mistake that majority of the taxpayers do is…
CA Abhishek Soni
-
8 Common Reasons For Why You Get Income Tax Notices!
Due to TDS. You may be slapped with a notice by the department if there is any mismatch in the amount of TDS which you have shown in your return and the actual TDS that has been deducted during the year. For example, In case, your employer forgot to file TDS return but the same…
sunil sharma
-
HUF – TAKES CARE OF EVERY HARD EARNED PENNY..!!
A HUF, in simple terms is called a hindu undivided family but how does the law defines it? Let’s get through it. The Hindu law defines a HUF as a family that consists of all persons lineally descended from a common ancestor which includes unmarried daughters and wives. It consists of female members as well…
CA Abhishek Soni
-
Form 12BB Announced for Self-Declaration of Claims and Deductions
The Income Tax Department has come up with a fixed format for the declaration of claims and deductions along with their evidences, to be given by the employee to the employer in the form 12BB from the Financial Year 2016-2017. From now onwards, it’s mandatory for an employee to provide with all the declarations along…
sunil sharma