Income Tax

Income Tax Return 2019: Five last-minute tips for quick and easy ITR filing

With the extended Income Tax Return (ITR) filing deadline of August 31, 2019 inching closer, taxpayers are on their toes trying to ensure that they file their return on time to avoid penalty.
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Income Tax Return 2019: How to get your refund amount in case of mismatch in bank account details?

After filing your ITR, if you realise that there was a mistake in entering account details in which refund is scheduled to come, or the details have been changed, log in to your e-filing account to ch

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Senior Citizen Day: TDS and other tax benefits available exclusively to senior citizens

For income tax purpose, a senior citizen is an individual resident in India who is of the age of sixty years or more at any time during the relevant previous year.

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ITR Filing 2019: 5 common mistakes in filing income tax return which may cost you dearly

Income Tax Return 2019: Tax filing mistakes may not only make one's tax return invalid, but sometimes may also make one liable for penalty and prosecution, depending upon the nature of mistakes.

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ITR Filing 2019: 5 incomes you must not miss to report in your Income Tax Return for AY 2019-20

It is advisable to be extra careful while filing income tax return this year as even a small mistake can result in the issue of a notice from the Income Tax Department.

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Income Tax Return 2019: How to find PAN of a company on income tax e-filing website or by using GSTIN

ITR Filing 2019: To ease the taxpayer's woes, the income tax department has recently come out with a clarification on what to do if it becomes difficult to find the PAN of a company.

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Income Tax Return 2019: How improper investments may result into additional tax payable

For a taxpayer, who has exhausted the 80C limit, the accrued interest will be added to “Income from other Sources”, but he/she will get no deduction for the same u/s 80C, resulting into higher tax

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Income Tax Return 2019: Don’t have Form 16 and TDS not deposited yet? Here is how you may still file your ITR

Without Form 16 and with Form 26AS showing no TDS was deducted and deposited, many employees are in dilemma how to file ITR on time and whether to pay tax again.

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Income Tax Return 2019: What taxpayers should keep in mind while filing ITR

Individuals now have time to file their ITR for FY 2018-19 by 31 August, 2019. Here are some critical aspects that should be kept in mind while filing income tax returns.

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Money received from certain relations exempt from income tax

Salary received from all the employers during the financial year will have to be clubbed to arrive at your total income and be taxed accordingly.

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Income Tax Return 2019: 7 benefits of filing your income tax return

ITR Filing: Make sure to file your income tax return on or before the due date of August 31, 2019 to avoid penalties.

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LTCG tax on equities not only makes gains taxable, but makes their funds inaccessible for old investors

LTCG tax of 10 per cent is now charged on gains in excess of Rs 1 lakh generated from redemption of equities and equity-orient funds taken together in a financial year.

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Income Tax Return 2019: Forgot your password? You may still e-verify your ITR; Here is how

Until you verify the return, e-filing of your income tax return will not be treated as completed and not only you will not get the refund amount, if any, but you may get a notice for non-filing of ITR

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Income Tax Return 2019: Do you casually trade in stocks? Don’t be casual in revealing it in ITR

Many salaried people have interest in stock markets and they casually do intra-day trading or invest in stocks in small amounts, resulting into gains or losses.

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Income Tax Return 2019: One tax filing mistake that may put you in big trouble

Income Tax Return e-Filing for AY 2019-20: Benefits of pre-filled ITR Forms are available to assessees eligible to file ITR-1 and ITR-4, but the amounts given should be checked properly to ensure that

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Filing Income Tax Return for AY 2019-20? Keep these 5 things in mind

Income Tax Return e-Filing for AY 2019-20: Individuals and entities, having annual income of over Rs 2.5 lakh or any income on which there was any TDS, are required to file their Income Tax Return.

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Income Tax Return 2019: 5 critical things non-salaried taxpayers must keep in mind while filing ITR

ITR Filing 2019-20: It might be complicated to compute the tax liability of non-salaried taxpayers as their income streams may be irregular in comparison to salaried taxpayers.

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Income Tax Return 2019: How will PAN and Aadhaar interchangeability affect your tax filing?

In the Union Budget 2019, the Finance Minister had announced the interchangeability of PAN and Aadhaar. Here's how it will affect your tax filing.

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Change in TDS rule on insurance to put additional tax burden on single premium plans from Sept 1

In the Budget 2019, it has been proposed that from September 1, 2019, 5 per cent TDS on non exempt portion of life insurance pay-out will be charged on net basis.

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Good News! Income Tax Department launches e-Filing Lite; Check features, other details

E-filing of Income Tax Return 2019-20: Being a lighter version, the 'e-Filing Lite' will not carry the same links as available to the taxpayer on accessing Portal Login on I-T E-filing website.

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Income Tax Return 2019: Wrong Income Tax Return Filed? Here is why it will be treated as invalid filing of ITR

Income Tax Return 2019: Any mistake in the income tax return may be rectified by filing a Revised Return if one has filed the Original Return within the due date.

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Deductee can claim credit on TDS on sale of property on basis of Form 26AS

By Chirag Nangia We sold our house in October last year and purchased a new one in February 2019. TDS was deducted by purchaser on the sale and we have deducted TDS for builder. Consideration price of

Income Tax News

Income Tax Return 2019: Unverified Return can no longer be used as proof of having filed ITR

Income Tax Return e-Filing for AY 2019-20: Returns may be e-verified through Aadhaar OTP, net banking or via Electronic Verification Code (EVC) on the e-filing site of the Income Tax Department.

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ITR Filing for AY2019-20: 4 tax filing mistakes which can cost you dearly

If you are amongst the newly-added tax filers during FY 2018-19, make sure you do not commit the following mistakes while filing your ITR for AY2019-20.

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