
Currently, some returns (ITR-1 and 2) are pre-filled, with information related to the taxpayer and employer, break-up of the salary…
Reopening Income Tax Assessment: The Income Tax Assessment Officer cannot send a notice to the assessee for re-opening of the…
Income Tax Return Filing for salaried individuals: Income Tax Return (ITR) filing is a must for salaried persons. ITR should…
Individuals or HUFs, who are not liable for tax audit, can use their PAN instead of TAN for deduction of…
For holding periods of more than one year in equity mutual funds, long-term capital gains tax at 10% (excluding cess)…
Compared to non-senior citizens, senior citizens get additional tax benefits as they usually don’t have regular source of earned income.
The Income Tax department should stop challenging orders of Commissioner of Income Tax (Appeals), which go in favour of the…
What is interchangeability can be understood by the fact that from now on, if someone does not have PAN, he…
If the ITR is processed by the I-T Department but still the tax refund is not credited in the bank…
How to get Income Tax refund: Have you received any message from the Income Tax Department asking you to put…
An intimation under Section 143(1) seeks to correct any mistakes that are apparent from records without the need for the…
In the Union Budget 2017, a new Section 234F was announced by the government which is applicable for returns filed…
Exemption limit is the quantum of income up to which a person is not liable to pay tax. A senior…
NRI may transfer funds through proper banking channels to purchase property abroad. There are no restrictions imposed from the tax…
Notice under Section 143 (2) is sent to the assessee when the Income Tax department finds any minor or major…
It is always better to start your tax planning early to be in a better position to minimize your tax…
How to rectify the ITR to change basic details like address, email ID, mobile number and bank account without filling…
Taxpayers can directly approach the income tax department, with any query related to ITR filing, processing, refunds, etc. by filling…