Simplification of Income Tax Form No.15G and Form No.15H
CBDT has simplified the format and procedure for self declaration of Form No.15G or 15H. The procedure for submission of the Forms by the deductor has also been simplified
Income Tax Employees Decide to Boycott Search Operations for Promotions
Stepping up their agitation, two large employee associations of the Income Tax department have announced non-cooperation and boycott of search and survey operations undertaken by the department to check tax evasion across the country.
Claiming of medical expenditure for tax purposes made easy
CBDT has amended the Rules such that medical bills pertaining to specified ailments from a specialist working in a Government hospital can be claimed under Section 80DDB
Claiming of Medical Expenditure for Tax Purposes made Easy
The Central Board of Direct Taxes (CBDT) has issued a notification by which claiming of medical expenditure for tax purposes has been made easy.
Passport, Aadhar Card and PAN card for age proof when joining Sukanya Samriddhi Account
Postal department will accept Passport. Aadhar card and PAN card as a valid document for age proof of girl child for opening of Sukanya Samriddhi Account – Notification issued
Income Tax Laws & Retirement – Know Your Legal Rights – May not be for You, but in Public Interest
The law provides for additional income exemption limit for senior and very senior citizens. The basic income exemption limit for senior citizens is Rs 3 lakh for financial year 2015-16 while the very senior citizens currently enjoy higher exemption limit of Rs 5 lakh.
Centre to Disclose Income Tax Act to Remove Complexities – Revenue Secretary
“Unfortunately the Income Tax Act which was written many years ago has undergone so many aberrations, so many changes, that it has become unwitty and complex, we need to undertake the wholesale job of removing such things and this is the right time to do it,” Mr Adhia said.
Application of EVC (Electronic Verification Code) for Income Tax Return 2014-15
income Tax Returns which are filed on or after 01.04.2015 electronically (without digital signature certificate) pertaining to the Assessment Year 2014-2015 or returns filed in response to various statutory notices as prescribed under the Act or returns filed as a consequence of condonation of delay u/s 119 of the Act can also be validated through EVC.
Income Tax Department Staff Go on Strike Today – Tax Payer services are “bound to fail” – Union
“More than 50,000 officers and staff of the department will participate in the strike as a result of which normal work in all I-T offices of the country will be stalled,” a statement issued by two major associations of the department said on Wednesday.
CBDT to Issue Pre-filled ITR Forms to Ease e-Filing
As part of efforts to popularise the electronic mode of filing Income Tax Returns (ITRs), the CBDT is planning to provide “pre-filled” return forms to filers which will have an automatic upload of data on income and other vitals of a taxpayer.
e-Filing Income Tax Returns – Date Extended till October 31st
The government on Thursday extended due date for e-filing of all returns of income & audit reports till October 31, 2015. “Necessary order u/s 119 of the Income-tax Act, 1961 has been issued by CBDT in this regard,” the release said.
Income tax returns filing forms simplified
The requirement of submitting physical copy of Form 15G and 15H by the deductor to the Income-Tax Department authorities has been dispensed with. The payee can submit the self-declaration form either on a paper or electronically.