NEW DELHI: Educational institutions, hospitals, charitable and religious trusts will soon have to file the online application for seeking income tax exemption, the I-T department said Monday. The department sought comments from stakeholders by November 12 on the amended rules and application forms seeking tax exemptions by such entities. “In view of the digital advancement…
What are all the Deductions allowed from my Salary Income for the year 2018-19?
GConnect Income Tax Calculator 2018-19 (Assessment Year 2019-20) – Easy to use Income Tax Planning tool for Central Government Employees and Pensioners
Save tax on home rent even without House Rent Allowance (HRA) benefit
Best Tax Saving Investment Plans for Salaried – From National Payment System (NPS) to ELSS Tax Saving Options for Salaried: You can save some tax on investments that enjoy the safety net of Section 80 C, and some other sections, of the Income Tax Act. But then, you may be wondering what are the best…
Tax Relaxation on NPS Maturity Value GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION No. 3975 TO BE ANSWERED ON FRIDAY, THE 10TH AUGUST, 2018 19, SHRAVANA, 1940 (SAKA) TAX RELAXATION ON NPS MATURITY VALUE 3975. SHRI KONAKALLA NARAYANA RAO: Will the Minister of FINANCE be pleased to state: (a)…
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.
The investment and withdrawal from the PPF account are also exempted from tax. The rate of return is 7.6 per cent.
If you are now wondering over the amount that you are paying as income tax, you should realise that that there are ways to reduce this outgo.
Sharing “specific information” with the income tax department about any benami transaction or property could earn you up to Rs one crore, while the same for undisclosed black money stashed abroad could fetch up to Rs 5 crore. Besides, the ‘Income Tax Informants Reward Scheme’ has also been amended under which a person can get…
Q1. I have salary income, interest from saving bank account and dividends from equity funds. For interest from bank accounts, do I have to submit proof to claim deduction under Section 80TTA? Do I need to include dividends as part of other income? You need to include interest from saving bank account under income from…
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.