Procedure for online filing eTDS/TCS statement through e-filing portal or submission at TIN Facilitation Centres
Procedure for online filing eTDS/TCS statement through e-filing portal or submission at TIN Facilitation Centres - CBDT Notification
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Income Tax
Last date of issue of Form 16 and Form 24Q for FY 2018-19 extended
Extension of the due date of filing of TDS statement in Form 24Q for FY 2018-19 upto 30th of June, 2019 and issue of TDS certificate in Form 16 upto 10th of July, 2019
Procedure, format and standards for issuance of TDS certificate in Part B of Form 16 through TRACES
Procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16 through TRACES - Income Tax Notification 09/2019
E-filing of Income Tax Returns for the FY 2018-19 has increased to 19%
E-filing of Income Tax Returns for the FY 2018-19 has increased to 19% compared to FY 2017-18
There have been some incorrect reports in media pertaining to reduction in numbers of Income Tax…
Revised Form 16 under Income Tax Act – Notification
CBDT Notification No.36/2019 Dt. 12.4.2019 - Amendment in Form 16 and Form No. 24Q under Income Tax Act
Income Tax Returns for salaried employees notified – IT 2018-19 (AY 2019-20)
Income Tax Returns for Salaried Employees for the year 2019-20 have been notified. Either ITR-1 or ITR-2 will have to be filed by Salaried Employees not having income from profits and gains of…
Income tax exemption for gratuity – Rs. 20 lakhs w.e.f. 29.03.2018
Income tax exemption for gratuity - Enhanced Upto Rs. 20 lakhs w.e.f. 29.03.2018 - Gazette Notification
Only those with income up to Rs 5 lakh to pay no tax, rates remain same for all others
Finance Minister Piyush Goyal has proposed that individuals with annual income up to Rs 5 lakh will get full tax rebate under section 87A.
Shalini Jain, Partner, EY India says, “This means that…
Income Tax Relief under Section 89 of Income Tax Act – Updated GConnect Calculator
Income Tax Relief under Section 89 of Income Tax Act - Income Tax Relief under Section 89 of Income Tax Act - GConnect Calculator to determine IT Relief for Arrears of Income from Salary received in…
What are all the Income subjected to Income Tax under the Head Salaries ?
What are all the Income under the head Salaries in the case of an Salaried Employee (Section 17 of the Income Tax Act 1961) ?
Income tax 2018-19 – Circular for deduction from salary
Income-Tax Deduction from Salaries during the Financial Year 2018-19 under Section 192 of the Income-tax Act, 1961
No TDS for Senior Citizens upto 50,000 – CBDT Notification
TDS deduction under section 194A of the Income tax Act, 1961 - No TDS upto 50,000 in case of Senior Citizens – CBDT Notification
Income Tax for the year 2018-19: How much salaried employee can save?
Income tax is the hard truth that every salaried employee in the taxable bracket has to live with. It has to be paid. In spite of this, it is commonplace to find people not making wise and timely…
New direct tax law to replace the existing Income Tax Act 1961
The government had set up a six-member task force to draft a new direct tax law to replace the existing Income Tax Act 1961.
GConnect Income Tax Calculator for Pensioners – FY 2018-19 (Assessment Year 2019-20)
Income Tax Calculator 2018-19 for Central Government Pensioners launched - Simple and effective Income Tax Calculation Tool exclusively based on Central Government Pension income, and deductions…
Income Tax Department – New PAN card rules from December 5 to prevent tax evasion
With an objective of preventing tax evasion in the future, the Income Tax Department will introduce new Permanent Account Number (PAN) card rules with effect from December 5, 2018.
The notification…
Restaurants and hotels not giving Service charge to workers – CBDT
NEW DELHI: Restaurants and hotels imposing service charge on customers in the name of tips but not passing them full to their employees could court trouble from taxmen. Central Board of Direct Taxes,…
Centre provide Incentives/Rewards to Income Tax Officers, Experts Fear return of “Tax Terror Regime”
Alarmed by the rising mountain of direct taxes stuck as arrears or in litigation, the Finance Ministry has come up with incentives/rewards for ‘performance by appellate income tax officers in order to…
Income Tax Returns (ITR) filing: Clubbing of Rental income in the hands of beneficial owner
Can I take a home loan and buy a house in my wife’s name, who is a housewife? Since I am working I will pay the EMI. We plan to rent out the house and show the rental income in her income to reduce my…
GConnect Income Tax Calculator 2018-19 (Assessment Year 2019-20) with Save Option
GConnect Income Tax Calculator 2018-19 (Assessment Year 2019-20) with Save Option - Trusted by more than 52000 Registered Users