Income Tax

Download Form 12BB as a Word, Excel or PDF file- All Employees to file Declaration under Form 12BB to claim deduction for savings under Section 80 C, payment of house loan interest under Section 24,…

New Income Tax Rules - Aadhaar in lieu of PAN and Giving a false Aadhaar number may be fined Rs. 10,000 for each mistake  NEW DELHI : For the convenience of taxpayers, the income tax department has…

GConnect Income Tax Calculator 2019-20 (Assessment Year 2020-21) for Central Government Employees - Estimate Income Tax to be paid on your salary income and plan for Tax Savings at ease.

Extension of due date for filing of Income tax Returns/Tax Audit Reports to 30th November, 2019 in respect of all categories of income-tax assessees in the Union Territory of Jammu and Kashmir and…

Income or Loss on House Property Calculation - From the Financial Year 2017-18 Section 24 of Income Tax Act allows only Rs. 2 lakh as Exempted income / Loss allowed to deducted from Income in respect…

Amendment in Section 114 w.e.f. 01.09.2019 - Income Tax - Aadhaar in lieu of PAN is auto applied for PAN and Aadhar is sufficient document for New PAN Application

Last date filing Income Tax Return 2018-19 (Financial Year) (AY 2019-20)  has been extended to 31st August 2019 from 31st July 2019

NC Staff Side Demand - Exemption from payment of income tax to Pensioners EXEMPTION FROM PAYMENT OF INCOME TAX TO PENSIONERS WHO HAVE ATTAINED AGE OF 80 YEARS OR MORE Pension or Family Pension…

Procedure for online filing e­TDS/TCS statement through e-filing portal or submission at TIN Facilitation Centres - CBDT Notification

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 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% compared to FY 2017-18 There have been some incorrect reports in media pertaining to reduction in numbers of Income Tax…

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 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 - Enhanced Upto Rs. 20 lakhs w.e.f. 29.03.2018 - Gazette Notification

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…

What are all the Income under the head Salaries in the case of an Salaried Employee (Section 17 of the Income Tax Act 1961) ?

TDS deduction under section 194A of the Income tax Act, 1961 - No TDS upto 50,000 in case of Senior Citizens  – CBDT Notification