A few days back (on April 16, 2018) Income Tax Department issued cautionary advisory to Salaried Taxpayers about under-reporting of income and inflating deductions/exemptions while paying taxes. This was prompted by some of the recent cases of salaried caught by income tax officials. You can read the advisory below: Also Read: Everything you need to […] Continue reading →
The income tax return (ITR) forms were notified on April 5 by CBDT . Thankfully there is No change in the number and name of Forms as compared to last year. In this post we tell you which is the right ITR Form for you for AY 2018-19 (FY 2017-18). The choice of ITR Form […] Continue reading →
The CBDT has released the Income Tax Return (ITR) Forms a few days back. The good thing is most of things are similar to last year. However, as it happens every year, there are some changes in these forms and information sought. Overall income tax department wants to know more details about your salary structure, […] Continue reading →
This year the income tax return (ITR) Forms have been notified and released on April 5th. However we suggest you to wait at least till May 31 before you start filing your returns. This might sound unusual because in most cases recommendation is to complete things as soon as possible. The due date for filing the […] Continue reading →
There are times when some salaried tax payers are not able to claim tax exemption as they were not able to submit the required documents within timelines. Generally companies start asking for the tax exemption documents like investment proof, rent receipt, Loan payment certificates etc from January on wards. But in case you were not […] Continue reading →
The financial year ends on March 31 and there are various important things that you must DO before this. But from this year you MUST file your belated or revised income tax returns (ITR) for present Assessment Year (AY 2017-18 or FY 2016-17) and last Assessment Year (AY 2016-17 or FY 2015-16) in case you have […] 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 →
The due date for filing income tax return (ITR) was August 5 for AY 2017-18 and most tax payers would have complied with the deadline. However if you have not filed your income tax return you can still do it by March 31, 2018. Once the ITR is submitted and verified by the tax payer, […] 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 →