Have you received arrears of salary as per the 7th Pay Commission recommendations? Here's how to report those in your income tax return.
Income Tax Return
The process of ITR can be quite cumbersome in the absence of efficient financial planning, and any negligence on the tax payer's part can lead to undue payment of tax.
CBDT’s order regarding linking of PAN with Aadhaar while filing of ITRs - Order under Section 119 of the Income-tax Act, 1961
Many taxpayers miss out on exemptions and benefits as they are not aware of the tax department’s provisions that allow certain exemptions.
Saving tax through family! Surprised! Yes, we can save tax through our family members, i.e., parents, major children and wife.
You have to file your income tax returns (ITR) with utmost care because even a small mistake can land you in trouble with the tax department.
Investing a little time and thought into Income tax return filing can allow you to claim deductions you might have failed to while submitting your investment declarations.
Tax payers can use Aadhaar based e-verification of their Income Tax Returns (ITR) for making ITR filing easier and quicker, informed UIDAI on it's official twitter handle.
The tax department has uploaded the new income tax return (ITR) Form1 or Sahaj for the financial year 2017-18 on its e-filing website. This is the form that is used by most of the salaried class to file their ITRs.
The latest ITR -1 form, largely used by the salaried class of taxpayers, has been activated on the official e-filing portal of the Income Tax Department.
The new ITR-2 form requires tax payers to furnish the PAN of the tenant while providing details of income from house property, if available.
The income tax department recently notified income tax return (ITR) forms for the financial year 2017-18 (assessment year 2018-19). A one-page simplified ITR Form-1 (Sahaj) has been notified.
ITR Forms for the financial year 2017-18 (A.Y 2018-19) notified - ITR-1 one page return simplified further - All ITR Forms are to be filed online except for the income up to Rs. 5 lakh or PAN holder is 80 years old or more
Issue of Income Tax Form 16 to Pensioners by Bank - Issue Certificate of Tax Deducted in Form 16 to the Pensioners - CBDT Clarification
Linking of Aadhaar with PAN is must for existing PAN holders - Supreme Court upholds Income Tax Provision by which declaring Aadhaar details in Income Tax Return is mandated
Simple One Page Income Tax Return - Finance Minister reduces the tax rate from 10 to 5 per cent for individual income between Rs 2.5 to Rs 5 lakh.
CBDT definition for Tax Structure and rates of Income-Tax as per Finance Act, 2016 - Ministry of Finance Circular dated 02.01.2017