Profit

Tax

  • Income Tax Return (ITR) Filing Deadline Ends In 2 Days. Here's Your Last Minute Checklist
    ITR filing: The Income Tax Department has also mandated the public to verify the income tax return after submitting it.
  • Income Tax Return (ITR) Filing Deadline Just Three Days Away. 5 Things To Know
    Income tax returns (ITR) filing: Filing ITR after the due date, which is August 31, 2018, will invite penalties from the income tax department.
  • ITR Filing Deadline Extended For Kerala: Here Are 5 Latest Developments
    Kerala floods: The due date for filing income tax return (ITR) for assessees in Kerala has been extended to September 15 on account of devastating floods. The heavy rains and subsequent floods have led to destruction of life and property in the state, reported news agency Press Trust of India (PTI). The new deadline of September 15, the CBDT said in its statement, is applicable to taxpayers in Kerala who were "liable to file their Income Tax Returns by 31st August, 2018".CBDT had earlier extended the 'due date' for filing of income tax returns from July 31 to August 31, this year for salaried employees, which has now been extended by 15 days.
  • How To Apply For PAN Card, Check Application Status Online
    Applications to obtain a PAN card or make changes/correction to date fed into an existing PAN card can be made online, according to Income Tax Department's website -incometaxindia.gov.in. Applicants can also check the status of their PAN request online. PAN or Permanent Account Number enables the Income Tax Department to link all transactions made by an individual with him or her. In other words, PAN acts as an identifier for the person with the Income Tax Department.
  • Income Tax Return Due Date Extended For Assessees In Kerala
    The new deadline of September, the CBDT said in its statement, is applicable to taxpayers in Kerala who were "liable to file their Income Tax Returns by 31st August, 2018". For other assessees, August 31 stands the last date to file income tax return for assessment year 2018-19 without having to bear any charges.
  • Income Tax Return: How To Maximise Income Tax Benefit Under Section 80C
    Section 80C of the Income Tax Act offers one of the most common deductions available to salaried individuals, say experts. Section 80C of the Income Tax Act provides for income tax deductions up to Rs 1.5 lakh in a financial year. This benefit can be availed by investments in a variety of tax-planning instruments, including life insurance premium, EPF (Employees' Provident Fund) contribution, five-year fixed deposit and investment in ULIP or unit-linked insurance plan.
  • Penalty Charges You Have To Bear For Delayed Income Tax Return
    Belated income tax return: The taxman has stipulated a penalty amount ranging from Rs 5,000 to Rs 10,000 for filing of income tax return for assessment year 2018-19 after August 31, 2018. The amount of money charged as penalty or fine for a belated ITR increases based on the degree of delay.
  • Income Tax Return (ITR) Filing: Tax Slabs, Rates, Exemption Limits And Other Details
    Income Tax Return (ITR) Filing: Individuals looking to avoid paying any penalty charges on the income tax must pay the ITR by August 31, 2018.
  • From Form ITR-1 To ITR-V: Eight Income Tax Forms You Need To Know
    For filing of income tax return, the Income Tax Department has provided seven forms - named ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7, and one form - ITR-V - for verification, according to its website - incometaxindia.gov.in. These tax forms are applicable for assessment year 2018-19, which means they relate to income earned in financial year 2017-18, according to the Income Tax Department. Here's all you need to know about income tax return forms.
  • Having More Than One PAN Card Attracts Fine Of Rs 10,000, Details Here
    It is mandatory to quote PAN on filing of income tax return or ITR, and during all correspondence with any income tax authority.
  • From Section 80C To Section 80GG Of I-T Act: 5 Ways You Can Reduce Your Income Tax Liability
    Over and above of the Rs. 1.50 lakh deduction allowed under section 80C of the Income Tax Act, 1961, one can claim an extra exemption of Rs. 50,000 by making investments in the National Pension System (NPS). An assessee can claim exemption of up to Rs. 2 lakh on the total taxable income by investing in NPS.
  • Why You Must File Income Tax Return By End Of Month
    Not filing income tax return by the due date of August 31 attracts a penalty amount ranging from Rs 5,000 to Rs 10,000, depending upon the degree of delay. That means, those looking to file their income tax return without having to bear any penalty charges have a little over a week to do so. Individuals with annual income up to Rs 2.5 lakh are not liable to pay income tax.
  • Have You Verified Your Income Tax Return After Filing? Five Things To Know
    The Income Tax Department has mandated the public to also verify the income tax return once a submission has been made. Today, the taxman provides multiple ways, such as mail, net banking, ATM and Aadhaar, for assessees to verify their ITR.
  • GST Removed For Goods Supplied To Flood-Hit Kerala: Piyush Goyal
    Kerala Floods: Finance Minister Piyush Goyal tweeted about the relaxation on taxes on goods imported to Kerala on Monday.
  • Filed Your Income Tax Return (ITR)? 11 Days Left To Avoid Penalty Charges
    Income Tax Return (ITR): Last month, the government extended the original deadline of July 31 by one month, announcing August 31 as the new deadline. That means, for those looking to file their income tax return without having to bear any penalty charges have eleven days left to do so.

................................ Advertisement ................................

................................ Advertisement ................................