Income Tax

TDS mismatch in Form 26AS & Form 16? Ask employer to issue new Form 16 with correct details

One must obtain Form 16 (TDS certificate issued by the employer) and verify the same with the Form 26AS.

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Income Tax Return 2019: Filing your ITR? Check your Form 26 AS first

A salaried person with income less than Rs 50 lakh, one house property, other sources and/or agricultural income up to Rs 5,000 can file ITR-1 or SAHAJ form.

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Income Tax Return 2019: With extended due date nearing, here is how you may fill ITR form quickly

While ITR-1 is a simple form having only six pages, filling other ITR forms are much difficult and time consuming task as ITR-2 has 26 pages and ITR-3 has as much as 41 pages.

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Income Tax Return 2019: Want to file ITR for previous years? How many years can belated returns be filed for?

ITR Filing: The income tax law prescribes the due date for filing of income tax returns by taxpayers. Different due dates are prescribed for different taxpayers.

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ITR Filing 2019: Filing income tax returns for FY 2018-19? Here is all you need to know

Identifying the different categories of taxpayers, the Central Board of Direct Taxes (CBDT) has notified seven types of ITR forms for each class of taxpayer

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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.

Income Tax News

Big relief for stock market, equity mutual fund investors; Enhanced surcharge withdrawn

The FM has announced relief from the enhanced surcharge on the long term and short-term capital gains arising in the stock market transactions.

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Income Tax Return 2019: How freelancers can file their ITR for AY 2019-20

ITR Filing 2019: Unlike salaried individuals, filing tax returns for a freelancer can get slightly complicated. Here's how they can do it.

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Income Tax Return 2019: Pre-filled ITR forms to make filing easier

According to media reports, the government is in talks with the markets regulator to get details of investment returns of taxpayers. The pre-filled forms will have salary break-up from Form 16.

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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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