Category: Blogs
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Safeguarding tax credit of every tax
How can I verify whether TDS deducted on account of payment made to me by another party has been deposited to Govt. treasury or not? How can I check whether advance tax paid has been booked against my PAN no. or against another PAN no. by bank erroneously? How can I check the total tax…
CA Abhishek Soni
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With first salary, comes tax responsibility! Start saving your Taxes!
When a person starts with his job, one of the most tedious and challenging task for him can be having a robust financial planning. Often it is observed that ‘Gen X’ or the young generation focus their energies only on Financial Planning and ignore Tax Planning. It is the most pertinent time for managing your financial goals…
CA Abhishek Soni
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VALIDATION OF TAX RETURNS THROUGH EVC ALLOWED FOR AY 2014-15 AS WELL !
Income tax department [vide its circular no 41/2015 dated 15.04.2015 issued by CBDT] announced that taxpayers who filed their income tax returns online will no longer have to send the paper acknowledgement by post to CPC Bangalore, if they have aadhar card which can be used for verification purpose. Instead of manual verification, a new…
CA Abhishek Soni
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House Rent Allowance V/S Rent Free Accommodation!
For the purpose of employment, people are forced to shift from one place to another and have accommodate a new house, some are provided accommodation by their employers and the rest of the employees arrange it on their own. In the former case, there can be two possibilities. Either employer owns the house or accommodation…
sunil sharma
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Expenses that can save your Taxes!!
Did you know that expenses incurred by you can help save your taxes? No, not only investments; even your personal expenses incurred by you in respect of certain activities can help you reduce your tax liability.Now, change the way you look at your expenses as they can have a huge impact on your tax savings.Curious…
CA Abhishek Soni
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NO MORE SENDING OF ITR’S TO CPC, VERIFICATION WITH EVC INTRODUCED..!
The online filing of the returns has made the process easy and fast. But still a litlle bit of manual step lies at the end. So to make the life of taxpayers more easier, Income Tax Department has introduced the concept of EVC to e-verify the returns. With this you dont have to send the…
CA Abhishek Soni
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Income Based LPG Subsidy distribution from 2016
The Government has surprised our countrymen on this new year.But this has come as a rude shock for our decent taxpayer’s.Cause of their hackles being their beloved LPG subsidy. According to the press release by Ministry of Petroleum and Natural Gas all the well-to-do households will no longer be eligible to LPG Subsidy from January.This will specifically…
CA Abhishek Soni
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Government is all set to take Skill Development Programme one step forward!!
New Year will see grant of more than ever exemptions to win the war of making India skilled. Under the domain of Skill India Mission, Government is gearing up to grant Income tax exemption to Skill Training Institutions coupled with service tax exemptions for the next five years in the upcoming Union Budget 2016-17. As…
CA Abhishek Soni
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WHY YOU SHOULD DROP YOUR PEN AND START FILING ONLINE..!!
Gone are those days when you used to file your returns with a pen and a pencil in hand, struggling with the lenghty forms. E-filing is the new way to file your taxes with the income tax department. E-filing is a very simple process of submitting your documents electronically to the Income Tax Department. E-filing…
CA Abhishek Soni
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TAX SAVING, TAX AVOIDANCE, AND TAX EVASION: ARE THEY THE SAME?
In common parlance the terms saving, evasion and avoidance may be used interchangeably but for the Income Tax Department each of these terms has a different meaning associated with it and some are taken more seriously than others! Let’s end this confusion of words once and for all by breaking them down one by one…
CA Abhishek Soni