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Tax

  • Income Tax E-Filings Drop By Over 6.6 Lakh In 2018-19
    However, registered filers have been on the rise - they grew by 15 per cent to 8.45 crore as on March 31, 2019, the e-filing website showed.
  • All You Need To Know About PM Shram Yogi Maan-Dhan (SYM) Pension Scheme
    Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) is a government-sponsored voluntary and contributory pension scheme for unorganised workers. Pension scheme PM-SYM or Pradhan Mantri Shram Yogi Maan-Dhan admits unorganised workers in the age group of 18-40 years with a monthly income up to Rs 15,000, and offers a minimum guaranteed pension of Rs 3,000 a month after the subscriber turns 60, according to pension regulator EPFO. The worker should not be covered under any statutory social security scheme such as National Pension Scheme (NPS), Employees' State Insurance Corporation scheme and Employees' Provident Fund Organization Scheme, among other requirements, according to the EPFO. Life Insurance Corporation (LIC) is the fund manager for the pension scheme, and is the service provider for the payment of pension to the subscriber.
  • Want To Set Up A Post Office FD? Investment Limit, Tax Benefit And Other Details Here
    Post office fixed deposit: Interest rates applicable to small savings schemes are revised by the government on a quarterly basis. For the quarter ending June 30, investment in fixed deposit accounts of a one-three year term fetches interest at the rate of 7 per cent per annum.
  • Five-Year Tax-Saving Fixed Deposit: Interest Rates, Investment Limits And Other Key Details
    Fixed deposit rates: A special type of term deposit or fixed deposit (FD) is eligible for deduction under the ambit of Section 80C. From state-run State Bank of India (SBI) to private sector peers HDFC Bank and ICICI Bank, major banks today interest rates to the tune of 6.25-7.75 on the five-year income tax-saving fixed deposits. These bank fixed deposits as well as the five-year time deposit (small savings scheme) in the post office are eligible for Section 80C income tax benefits.
  • What Latest Form 16 Changes Mean For You
    Form 16: The Income Tax Department earlier this month notified new ITR forms. These income tax return forms - ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 and ITR-7 - are applicable for reporting income earned during financial year 2018-19, which ended on March 31, 2019.
  • Income Tax Return Form Changes And Other Details Here
    The income tax department has made changes to the income tax return forms which ask for more information from the assessees. The changes in income tax return form are applicable for filing income tax for assessment year 2019-20.
  • You Need To Furnish These Additional Details In New Income Tax Forms
    Income tax return (ITR) forms: According to income tax experts, some sections in the income tax return forms have been rationalised and reporting requirements increased. July 31 is the due date for filing income tax returns (ITR) for assessees not required to to get their accounts audited.Income tax assessees other than super senior citizens to file paperless return
  • Want To Check Your Income Tax Refund Status? Here's A Step-By-Step Guide
    Income Tax department allows individuals who have deposited excess tax to claim refund. The income tax refunds can be claimed on income tax's e -filing website.
  • Haven't Linked Aadhaar With PAN Yet? Here Are Five Key Things To Know
    The Income Tax Department has provided multiple ways for assessees to seed the Aadhaar number into the PAN database. These include an SMS service and an online facility through its e-filing portal incometaxindiaefiling.gov.in.
  • Income Tax Department Notifies Forms For Assessment Year 2019-20: 10 Things To Know
    The Income Tax Department has notified forms for assessees to use for filing the returns for financial year 2018-19 (assessment year 2019-20). Meant for individuals and companies, the I-T department provides seven different forms for filing of income tax return, and one for verification of income tax return. While there has been no change in ITR-1 or -Sahaj-, meant for the salaried assessees, some sections in ITR forms 2, 3, 5, 6 and 7 have been rationalised for the assessment year 2019-20, say tax experts.
  • How To Apply Online To Obtain A PAN Card: Form, Fees, Other Key Details
    Quoting of a PAN card number is required for payment in cash for purchase of a bank draft or pay order of Rs 50,000 or more in a day, according to income tax rules. The Income Tax Department has announced September 30 as the due date for linking the Aadhaar number with PAN (Permanent Account Number) "unless specifically exempted".
  • How To Open National Pension System (NPS) Account Online
    How to set up new NPS account online: The eNPS portal enables users to set up an account under the national pension scheme, NPS (all citizens model). The eNPS portal enables new users to register to obtain a PRAN as well as existing subscribers to make NPS contributions using their PRAN.
  • Quoting Aadhaar In Income Tax Return Compulsory "Unless Specifically Exempted": Taxman
    The CBDT has said that the cut-off date for intimating Aadhaar and linking it with PAN is September 30, 2019 "unless specifically exempted". The DBDT or Central Board of Direct Taxes is the top policy-making body for the Income Tax Department.
  • How Your Income Tax Outgo Is Set To Change Going Forward
    While the income tax changes announced in Budget 2019 will take effect from the financial year 2019-20 (assessment year 2020-21), the existing laws define how much income tax individuals have to shell out for the year ended March 31 (FY2018-19).
  • Today's The Last Day To Link PAN With Aadhaar. Here's How To Do It Online
    Aadhaar-PAN linking: March 31 is the last date for PAN holders - requiring to file income tax return - to link the 10-digit alphanumeric identification number with Aadhaar. In order to facilitate the linking of Aadhaar with PAN, the Income Tax Department has provided multiple options for the assessees to choose from, including an SMS service and an online facility through its e-filing portalincometaxindiaefiling.gov.in.

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