Income Tax

Income Tax Deduction from Salaries during Financial Year 2019-20 under Section 192 of the Income-Tax Act, 1961 - IT Circular No. 4/2020

General Budget 2020 – NFIR’s proposals for consideration and inclusion in the Budget proposals to be presented before the Parliament during Budget presentation in February 2020

The Ministry of Finance recently notified Form 26QD for TDS Return and Form 16D for TDS Certificate under section 194M and 194N of the Income Tax Act.

If you find an omission or a wrong statement in the original ITR, make a correction by filing a revised income tax return in the e-filing portal

Tax Benefits of Education Loan on Foreign Studies Under Section 80E of the Income tax act - Check the Conditions for Claiming This Deduction

Section 80TTA: Income Tax Deduction of Rs 10,000 on interest income and Section 80TTB: Income Tax Deduction for Senior Citizens 

Income Tax Deduction for dependents with specified diseases under Section 80DDB and Check How to get a certificate for claiming deduction

Income Tax to be deducted from income for the financial year 2019-20 (Assessment Year 2020-21) as per Finance Act. 2019

GConnect Income Tax Calculator 2019-20 (Assessment Year 2020-21) for Central Government Employees – Choose Save Option or Instant Version and Estimate Income Tax to be paid on your salary income and…

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…

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…