Which ITR to File

  • Income Tax
  • |
  • 26 Jul 2017

Taxpayers filing their income tax returns are required to determine which type of income tax return (ITR) form to file before actually filing their returns. The form required is entirely dependant on the income that the taxpayer earns, or in some cases where the taxpayer holds assets in a country other than India or earns income from a country other than India. What are the Different Types of ITR Forms? While there are up to nine types of income return forms that a taxpayer could use to file his returns, only the following forms are to be taken into considera


ITR filing details & related links

  • Income Tax
  • |
  • 25 Jul 2017

ITR filing details & related links It is time to start work on your income tax return. Although the last date to file for individuals is July 31, it helps to start early so that one is not rushed at the last minute. Here are all the links you need to help you e-file your tax return on your own and also a step by step guide on how to do it.  The income tax department has provided an easy to use platform for users to pay taxes, file ITRs, cross-check TDS through TRACES, download forms, claim refunds, check status of dues, refunds, challans etc. However


Reason for filing Income Tax Return within Due date

  • Income Tax
  • |
  • 15 Jul 2017

The due date for filing income tax return for individuals - July 31 but several people think that if one has paid all one's taxes there is no adverse consequence even if one misses the tax return filing deadline. Even the proposed penalty for delayed filing of income tax return kicks in from next year and is not applicable for returns filed for FY16-17. But the individuals face the prospect of still loosing out on certain benefits if they do not file their income tax return by the due date.  In fact, filing the return by the deadline is important specia


Taxability of various Investment Instruments

  • Income Tax
  • |
  • 28 Jun 2017

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How to respond to income-tax mail on Cash transaction done

  • Income Tax
  • |
  • 25 Jun 2017

The ITD has started contacting those individuals whose bank accounts have witnessed transactions related to cash deposits between November 9 and December 30, 2016. This communication, however, need not be construed as an I-T notice. Submit your response online Instead of visiting the I-T office, the taxpayers can submit online explanations by logging on to the e-filing website (https://incometaxindiaefiling.gov.in) using their credentials. If they haven’t registered yet, they can do so by clicking on the ‘Register Yourself’ link. Registered taxpayers