Income Tax Articles

Bajrangi and Bahubali, etc. like now Income Tax Department have target of Crores

Posted by CA Umesh Sharma 28 July 2015 17903 Views

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

Posted by CA SONIYA AGARWAL 27 July 2015 21456 Views

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

Posted by Harihar Mandal 02 March 2024 21698 Views

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

Posted by CA SONIYA AGARWAL 24 July 2015 18522 Views

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

Posted by CA ANKIT GUPTA 24 July 2015 16095 Views

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

Posted by CMA Poornima Madhava 23 July 2015 17000 Views

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

Indispensable components in the salary

Posted by Ravi Dasija 23 July 2015 5987 Views

Income Tax!! Not only is it a major expense but also an unavoidable one for each person to bear. And if you draw a salary, your tax expense is probably the highest.Imagine, yo

Income tax deduction in India

Posted by Neeraj Sharma 17 July 2015 27416 Views

Every individual who earns an income in India is supposed to pay Tax on the Income earned by him during that financial year to the government of India. Calculation of the Income Tax to be paid by an individual is a cumbersome process. The government

How to e-verify ITR with the help of EVC

Posted by SAMEER AHMED 17 July 2015 27958 Views

Source:-The Notification No.2/2015 on dated 13.07.2015The Notification will come into effect from the date of issue.By this notification the process of verification after e-filing of any Income tax return has been modified only.Before this notificati

New to income computation and disclosure standards (ICDS)? Here's what you need to know

Posted by Karan Khatri 15 July 2015 12808 Views

INTRODUCTIONBackgroundSection-145(2) of Income tax Act, 1961 empowers Central Government to issue Income Computation and Disclosure Standards (ICDS).Key Features of ICDS Effective Date of ICDS is 01stApril, 2015e. AY: 2016-17 onwards. ICDS applicable