Income Tax
YOUR QUERIES: INCOME TAX: Tax on equity mutual funds sale only on LTCG above Rs 1 lakh
Since you have income under head Salary and Long term Capital Gain (LTCG), you shall be required to file your Income Tax Return in Form ITR 2.
Income Tax tricks: How to plan smartly to have more cash in hand from salary every month
In the new financial year, lockdowns in several states have once again forced people to look out for ways to increase the monthly flow of in-hand cash. Proper tax planning can help in that direction
Glitches in new e-filing site halt ITR filing: How to kickstart the filing process?
Normally, the ITR filing process concludes by July end with the usual due date for filing returns of income for the assessee without audit needs is July 31 every year.
How to get Income Tax Return e-filing assistance from CAs, ERIs on new portal incometax.gov.in
Assisted Income Tax Return Filing: On the new Income Tax e-filing portal, taxpayers can now add a Chartered Accountant, e-Return Intermediary (ERI) or any authorized representative for assistance in I
How to file income tax return on the new e-filing portal and its key features
The new income tax e-filing portal provides a refreshing feel and has provided a wider bouquet of services under one umbrella.
How to make the most of tax deductions on education loan
You can claim tax deductions against education loans under Section 80E of the Income Tax Act. However, there are a few things to keep in mind.
FinMin officials to meet Infosys team on June 22 to discuss IT e-filing portal glitches
The new portal, ‘http://www.incometax.gov.in”www.incometax.gov.in’, was launched on June 7, with the IT Department as well as the government saying it was aimed at making compliance more taxpaye
Income Tax Alert! CBDT relaxes norms for forms 15CA & 15CB amid glitches on new e-filing portal
The Central Board of Direct Taxes (CBDT) has granted relaxation in electronic filing of forms 15CA & 15CB in view of difficulties reported by taxpayers
YOUR QUERIES: INCOME TAX: Can switch to old tax regime at the time of filing income tax return
Under the new concessional tax rate regime, individuals can offer their total income at lower slab rate prescribed, provided they forgo certain specified deductions and exemptions.
Sale of joint property at a loss: How to take maximum tax advantage
In case of joint ownership, all the joint owners may share the capital gain or capital loss as per the proportion of their holding in the property.
Neither easy, nor friendly! Income Tax e-filing new portal continues to face glitches; some features yet not functional
Finance Minister Nirmala Sitharaman herself had asked Infosys - the vendor which created the portal - and its Chairman Nandan Nilekani to fix the technical glitches.
Your Money: Know how dividend income is taxed
Equity dividends are taxed at the hands of the recipient in certain countries and not in others
New Income Tax Site: Ill-timed launch of heavy, data guzzling site frustrates return filers
The private income tax softwares have also stopped working as they will start the software updation process once the income tax website is fully updated.
Before claiming Section 80C Income Tax deductions, be aware of these conditions
All of us avail tax benefits under Section 80C of the Income Tax Act, but only a few are aware that these benefits come with certain strings attached.
Salaried employee working from home? Check Income Tax rules for e-filing ITR on new portal
Income Tax Return (ITR) filing for salaried employees during work from home 2021: The Income Tax filing season has started.
Your Queries – Income Tax: Grandfathering provision doesn’t affect set-off of long term capital loss from equity
One needs to file ITR only when gross total income in a financial year exceeds the basic exemption limit.
New Income Tax e-filing portal Latest Updates: ITR e-filing 2.0 Portal Link, Features, Benefits
New e-filing website (www.incometax.gov.in) features and benefits (Latest News Updates): Along with the launch of the new e-filing portal, the Income Tax Department will also provide free of cost IT
New online tax payment system, mobile app to be launched later: CBDT on upcoming e-filing portal
The new e-filing link -- www.incometax.gov.in -- will replace the HYPERLINK "http://existing www.incometaxindiaefiling.gov.in"existing--www.incometaxindiaefiling.gov.in from June 7.
I-T dept to launch new Income Tax e-filing portal on June 7
The new I-T slabs would be for individuals not availing or foregoing certain specified deductions or exemptions while computing total income for tax purpose.
Not filing Income Tax Return? You may have to pay double TDS from next month – Here’s why
New Tax Deducted At Source (TDS), TCS Rates for Non-filers from July 1: Higher TDS/TCS rate would be applicable for Income Tax Return (ITR) non-filers from July 1
Income Tax Return: Know the key changes in ITR Forms, filing processes before you start
Apart from a change in the e-filing site, some changes are also made in the ITR Forms for AY 2021-22, as well as in the process of filing return over the last assessment year.
ITR due date extension: Will you get interest relief on payment of tax during the extended period?
Instead of July 31, 2021, the due date for filing ITR for the Assessment Year (AY) 2021-22 will now be September 30, 2021.
Tax Relief for Work from Home: Need of the hour during Corona times
The government is thinking a lot about how to provide tax exemption to the employees who are working from home.
Covid-19: Higher tax benefits expected as employers extend helping hands to employees
Many companies have come forward to support their employees in the ongoing pandemic period by way of bearing their medical expenditure, health kit etc.
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