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

EPFO to get 8.5% pa interest for year 2012-2013

The EPFO’s board discussed the rate of interest for 2012-13. After detailed discussion, the board decided to recommend a rate of interest of 8.5% for the year 2012-2013. Decision to pay 8.5% interest rate was taken unanimously by the board. The trustees also decided that EPFO will give a permanent … Continue reading

EPF rates may rise for year 2012-2013

The interest offered by the Employees’ Provident Fund Organisation ( EPFO) is likely to rise this year, say sources in EPFO. For year 2012-2013 EPF rates are expected to be around 8.5% EPFO’s interest rate for prevoius year Year  EPF rate of Interest 2012-2013 expected to be 8.5% 2011-2012 8.25% … Continue reading

Increase in Employees Contribution in Provident fund will reduce take home salary

EPFO (Employee Provident Fund Organisation) as issued a circular on 30.09.2012. According to Circular, EPF (Employees Provident) should be deducted on total salary. Total Salary for purpose EPF calculation will be Basic Salary + DA + Conveyance Allowance + House Rent Allowance+ Education Allowance+ Travel Allowance + Medical Allowance+ Night … Continue reading

EPFO launches e-Passbook service for its members

Over 50 million PF subscribers can now access their accounts online as retirement fund body EPFO launched its e-Passbook service today. Who can download EPF pass book Active subscribers whose electronic challan-cum-return is already uploaded, can download their e-Passbook every month under the service launched by the EPFO’s Central Provident … Continue reading