Income Tax Articles
Filing of Income Tax Return for AY 2015-16 - New Initiatives
After the financial year is over as on 31st march, the next job is to obtain Form 16 or so from Employer(s) and others and file Income Tax Return on or before due date i.e. 31.08
Wait for new income tax returns is over
Karneeti Part 109 ?Tanu weds Manu? returned, ?Bhaubali? returns is awaited, but the wait for New Income Tax ?Returns? is over. Arjuna (Fictional Character): Krishna, Income Tax department has notified all remaining ITR?s for FY 2014-15. As audience w
Interest income on tax refunds
An Assessee is eligible to claim refund of the excess tax paid by him. Tax could be paid in the form of advance tax or tax deducted/collected at source or self - assessment tax or payment of tax on regular assessment. To claim refund, an assessee nee
Co-operative societies and TDS on interest
INTRODUCTION: This brief article seeks to discuss about the liability of cooperative societies to deduct income tax (Tax Deduction at Source or TDS) at the time
Bajrangi and Bahubali, etc. like now Income Tax Department have target of Crores
Karneeti Part 108Bajrangi and Bahubali, etc. like now Income Tax Department have target of Crores Arjuna(Fictional Character): Krishna, Income tax department on 17th July 2015 has given target to find �New Taxpayers� to the Chief Commiss
Basic components of salary and its taxation
CTC is cost to company and the components areBasic+HRA+CONVEYANCE+MOBILE REIMBURSHMENT+MEDICAL reimbursement+All allowances+LTA+employer contribution of PF+Employer Contribution towards ESI+Total variable incentives+Perks & benefits+ Insurance Pr
E-Verification of ITR
The days have been gone when we rushed to post offices for sending our acknowledgement copy (ITR-V form) of income tax return, filed online (without using DSC), duly signed to
All about IT Form 16 for salaried employee
What is Form 16:- If you are salaried employee in an organization, then you will get the salary after deducting tax by the employer. Therefore Form 16 is a certificate issued to you by your employer stating the Personal details of the Employee includ
Points to be considered by a taxpayer before filing an ITR
1. Due Date of Filing of Income Tax Return is proposed to be extended to 31 August �2015 in respect of Assessment Year 2015-2016. 2.The maximum amount of deduction available under Chapter VI A has been extended from Rs.1,00,000 to Rs.1,50,000
TDS on Interest other than Interest on Securities 194A
Any person (not being an individual/HUF*), responsible for paying to a resident any income by way of interest other than interest on securities, is responsible to deduct tax at source and deposit the same to the Government Treasury within the time st
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