One of my friends called me in a worrying voice telling me he had received an email from Income tax department with subject “Intimation U/S 143(1) for PAN ABCxxxxx4A AY:2019-20”. As with most of us, any communication from taxmen makes us worried and it was not much different for my friend. Are you in the […] Continue reading →
Step by Step Instructions (with screenshots) on how to fill Details of Income from Salary in ITR Forms using revised Form 16 Format. Continue reading →
The good thing is most part of ITR Form for AY 2019-20 is similar to last year, only with increased disclosures for some cases. The new forms incorporate changes in tax laws last year. Continue reading →
Step by Step instructions (with screenshots) to file income tax return using ITR-1 for Pension and Fixed Deposit Income for Senior Citizen for AY 2019-20. Continue reading →
I have received some queries asking, “Is it compulsory to file income tax return (ITR) if the income is less than Rs 5 lakhs?” I understand why there is so much confusion. We explain who needs to compulsorily file tax return and who are exempted from the same. Continue reading →
Learn about the latest Income Tax Slab for AY 2020-21 (FY 2019-20) which determines the tax you pay. Also has tax slabs for earlier years AY 2019-20. 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 →
This year the income tax return (ITR) Forms have been notified and released on April 9th. 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 […] Continue reading →
The income tax return (ITR) forms for AY 2019-20 (FY 2018-19) were notified on April 9, 2019 by CBDT . In this post we tell you which is the right ITR Form for you for AY 2019-20 (FY 2018-19). The choice of ITR Form mainly depends on the source and amount of income. Continue reading →