Demonetisation and conversion of Black to White money and penalty

After Demonetisation on 8th november, also called surgical strike on black money many people have lost their sleep. People are looking at ways to convert their black money to white. They are all searching ways to minimise penalty and also avoid income tax. Impact of Demonetisation on 122 crore Indians Out of … Continue reading

Income Tax Form for Assessment Year 2015-2016

Income tax  forms for Assessment year 2015-2016 is released by income tax department. For Assessment year 2015-2016, every person (not being a co.) to e-file (Electronic Income tax Return) the income tax return if its total income exceeds Rs. 5,00,000. While filing the return care should be taken to ensure that you select correct … Continue reading

File tax returns before 31st march 2015

Why need to file tax returns before 31st march 2015? If you are yet to file income-tax return for the previous financial year 2013-2014 (assessment year 2014-15), you still have a chance to do so by March 31. The return for income earned in the financial year ending on 31 … Continue reading

Late filing of Income tax Return after 31.07.2014

Due date for filing tax return was 31.07.2014 ( 31 st July ) for all Individuals getting salary and running their own business or profession or working as free lancer. Due date for assessee who are required to get their books audited, the last date for filing return is 30th September. … Continue reading

Which ITR should I use for Filling tax return – ITR 1 or ITR2

Income Tax Return filing last date is 31st july 2014 for non- Audit cases. There is lot of confusion among tax payers, which is the correct income tax form. Whether I should use ITR 1 or ITR 2. Who can use ITR 1 ITR–1 Form is to be used by … Continue reading

Update contact details in incometaxefilling.gov.in

Important announcement for Tax payers for updating contact details in e-Filing Portal incometaxefilling.gov.in   Income-Tax Department uses the registered contact details (Mobile number & E-mail ID) for all communications related to e-Filing. It is mandatory that all tax payers must have a valid contact details registered in e-Filing portal. It is … Continue reading

Income Tax Form for Assessment Year 2014-2015

Income tax forms for Assessment year 2014-2015 is released by income tax department. For Assessment year 2014-2015, every person (not being a co.) to e-file (Electronic Income tax Return) the income tax return if its total income exceeds Rs. 5,00,000. While filing the return care should be taken to ensure that you select correct … Continue reading

Who Can Use Itr 4S (Sugam) For Online Income Tax Return Filing?

New Income tax form for Assessment year 2013 -2014 are released by Income Tax Department. It is important that correct income tax form should be selected for filing income tax return. Selecting correct income tax form will ensure that you return are processed timely and you get income tax refund … Continue reading

How to File Income tax return and avoid common Mistakes

Income tax Return for Assessment year 2013-2014 has started. Before filing income tax return, following things documents need to be arranged: 1) Form 16 from your employer, in case of Income Tax Return of Salary. 2) Interest Certificate (Form 16A) from Banks and Other Financcial institutions 3) Form 16A in case … Continue reading

Who Can Use Itr 2 For Online Return Filing?

New Income tax form for Assessment year 2015 -2016 are released by Income Tax Department. It is important that correct income tax form should be selected for filing income tax return. Selecting correct income tax form will ensure that you return are processed timely and you get income tax refund … Continue reading