Belated income tax return : There’s still a chance for filing your income tax return.
If you missed the extended income tax return filing deadline, there’s still a chance for filing your income tax return. However, there...
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- Sep 2, 2018
- 2 min
Missing ITR filing deadline? What happens!
The tax returns usually in a predefined worksheet format where the income figures used to calculate the tax liability are written into...
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- Aug 19, 2018
- 2 min
A.Y.2018-19: Tax Audit Limit for Businesses & Professionals
A.Y. 2018-19 : Tax Audit Limit for Businesses: If the total sales, turnover or gross receipt in business for the previous year exceeds...
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- Jul 15, 2018
- 1 min
How to get TDS refund and when?
When actual payment made by the deductor more than the tax deducted at source which want to deductible will be treated as the excess...
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- Jul 1, 2018
- 1 min
Can a return be filed after the due date?
Can a return be filed after the due date? Return of income which has not been furnished on or before the due date specified under section...
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- Jun 23, 2018
- 1 min
Rebate under Income Tax Section 87A
According to the Section 87A of the Income Tax Act, 1961 : An assessee, being an individual resident in India, whose total income does...
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- May 4, 2018
- 1 min
Primary duties of the person who is liable to deduct tax at source!
Following are the Primary duties of the person who is liable to deduct tax at source: Obtain Tax Deduction Account Number and quote the...
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- Apr 10, 2018
- 1 min
Income Tax Return - Penalty for delayed filing for AY 2018-19 onwards
Due date for filing of income tax returns (ITR) for Assessment year 2016-17 and 2017-18 is over. Now taxpayers need to get ready for AY...
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- Mar 5, 2018
- 2 min
Compliance Calendar - March 2018
Image Source: Quikchex I. GST Compliances 10-03-2018- Due date for filing GSTR -1 for the month of January 2018 – Applicable for...
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- Feb 27, 2018
- 1 min
Interest on Education Loans - Tax benefit
Compulsory conditions for claiming deduction under section 80E of income tax act, 1961 for Interest on Education Loans. Image : Wishfin...
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- Feb 26, 2018
- 3 min
Advance Payment of Tax
According to Section 208 of Income tax Act, 1961, every person whose estimated tax liability for the FY exceeds Rs.10,000 has to pay tax...
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- Feb 17, 2018
- 1 min
Mandatory filing of return to claim deduction under the heading C in Chapter VIA
Return of income and assessment procedure under Union budget 2018 proposal Mandatory filing of return to claim deduction under the...
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- Feb 10, 2018
- 1 min
Online filing of TDS/TCS statement
Steps for filing TDS/ TCS Statement online: Step – I The data structure (file format) in which the e-TDS / e-TCS return is to be prepared...
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- Feb 9, 2018
- 2 min
TDS on Expenditure for Charitable Trust
Budget proposal for 2018-19 30% of such expenditure will be disallowed, if the charitable trust does not deduct TDS as expenses in which...
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- Feb 7, 2018
- 9 min
Clarification on Long Term Capital Gains by CBDT after Budget 2018
Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of a company or...
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- Feb 5, 2018
- 2 min
Property under construction: Tax benefit from principal repayment
The Indian Income Tax Act clearly specifies the conditions under which a salaried employee can claim tax rebate on interest payment for...
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- Feb 5, 2018
- 2 min
You can Claim HRA as well as Tax Deduction on Home Loan
For some people, the tax-planning season has just started. You know that house rent allowance (HRA) and the deduction related to home...
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- Feb 5, 2018
- 2 min
How Income Tax Department Is Tracking Your Transactions
To check tax evasion, the Income Tax Department has stepped up its vigilance against undeclared income. Now, you have to report PAN on...
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- Feb 5, 2018
- 1 min
Compliance Calendar for February 2018
A. Due dates for Compliances under GST 15-02-2018- Due date for filing GSTR -1 for the Quarter ending Dec 2017 i.e. from m/o Oct to Dec...
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- Feb 3, 2018
- 2 min
Income Tax Highlights in Union Budget 2018
Long Term Capital Gains on listed securities i.e. Gain on shares or Mutual Funds held for more than one year was earlier exempt from...
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