Your income from salary, business or other income like income from fixed/recurring deposits etc are taxed as per income tax slabs. Budget 2018 has made no change to the tax slab rates, however following changes have been made: No change in Tax Slabs Additional cess of 1% for health care making total cess to 4% of […] Continue reading →
Its time of the year when salaried employees have to submit their Rent receipts and other tax saving investments proofs to their employers. And then people remember that they had never asked for rent receipts from their landlords. And physically filling up all rent slips for so many months is tiring. But here are some […] Continue reading →
Income Tax with so many if and buts is complicated and hence tax payers always need someone to help them. To assist tax payers Income Tax Department runs its helpline from Central Processing Centre, Bangalore. You need to dial different numbers based on type of enquiry. Below is the list of phone numbers: Income Tax […] Continue reading →
We are releasing the eBook on Tax Planning which tells you how to save income tax for FY 2017-18 (AY 2018-19). This is a short 43 slide power point presentation (in pdf) which covers all the tax saving sections and investments applicable for salaried or business tax payers. But before that lets look at the […] Continue reading →
The financial bill 2017 (commonly known as Budget) has been passed by the Lok Sabha with some amendments. This bill deals with government finances along with tax provisions. Here are 21 changes that would be effective from the next financial year (FY 2017-18) which starts on April 1, 2017. 1. Reduced Tax for Lower slab: […] Continue reading →
Income tax for individual is what most tax payers want to know in Budget. In Budget 2017, the finance minister has made little changes to this. We highlight the changes and give you the new tax calculator for FY 2017-18 [AY 2018-19]. Changes in Income Tax Rules: 1. Tax reduced from 10% to 5% for […] Continue reading →
Recently Government reported that it has cancelled more than 11.5 lakhs PAN Card in a bid to weed out duplicate and fake cards. As per Income Tax Laws one person can hold only one PAN Card. However it was found that there had been multiple duplicate PAN cards issued to same person. Also there were […] Continue reading →
A lot of tax payers who had filed their return for AY 2017-18 have received email from [email protected] with subject “Communication u/s 143(1)(a) for PAN XXXxxxxxXX for the A.Y. 2017-18”. The email reads as follows: The PDF attachment is a notice from Income Tax Department with Subject “Communication of proposed adjustment u/s 143(1)(a) of Income […] Continue reading →
Until now you could link your PAN number to aadhaar online or through SMS. Some people were still facing issue mainly due to name mismatch or different date of birth. The good news now you can fill offline form to link PAN to aadhaar. Form for linking PAN number to aadhaar The government has notified […] Continue reading →