"28 July 2018" Archive

Who can submit Form 15G & 15H & care to be taken in submission

This being the first quarter of the financial year, it is important, for all the people who want to receive interest without deduction of tax, to submit form no. 15G and 15G immediately to the banks Recently the in respect of particulars to be furnished and how to furnish these forms have been substantially amended. Let us discuss as to...

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Posted Under: Income Tax |

Tax Benefits for Differently Able persons in India

Tax benefits to individual who are differently able, Parents who have dependents who are differently able including minor and certain benefits to private sector for providing employment opportunities to differently able...

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Posted Under: Income Tax |

TDS on Salary under section 192 of Income Tax Act, 1961

CA Neil Ganatra Any person responsible for paying income chargeable in the hands of recipient as ‘Salaries’ shall make TDS under section 192 of the Income Tax Act, 1961. The article discusses some basic aspects of the provisions of the section 192 related to deduction of TDS on Salary. The basic conditions that attract compliance [&he...

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Posted Under: Income Tax |

View TDS, Income Tax & SA Tax Credit in Form 26AS

Now you can view tax credit statement (Form 26AS) without registering at NSDL through www.incometaxindiae filing.gov. in .New facility added in "My Account" for registered E-filers to View the Tax Credit Statement (Form 26AS) to verify if the tax payments made by you or TDS deducted from salary or interest etc are correctly reported to th...

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Posted Under: Income Tax |

Guide to know ITR applicable: Which ITR Applicable to whom?

In this article we have discussed which ITR is applicable for a Particular Assessee for Assessment Year 2018-19 i.e. for Financial Year 2017-18. ...

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Posted Under: Income Tax |

How to save tax on mutual fund returns / Income?

If we can plan well, we can save tax on mutual fund returns. In this article, I would explain you as to how mutual fund returns are taxed and possible ways to save tax on such returns....

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Posted Under: Income Tax |

CBIC issues 28 Notification Related to GST Rates on Goods & Services

CBIC issues 28 Notification Related to GST Rates on Goods & Services on 26th July 2018 which are effective from 27th July 2018. Notifications include Notification No. 2/2018-Compensation Cess (Rate), Notification No. 13 to 21/2018-Central Tax (Rate), Notification No. 14 to 22/2018-Integrated Tax (Rate) and Notification No. 13 to 21/20...

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Posted Under: Income Tax |

Former I-T commissioner from Mumbai gets 4 years jail in bribery case

The Special Judge for CBI Cases, Mumbai has convicted Shri Dayashankar, the then Commissioner Income Tax (Appeals), Bandra Kurla Complex, Mumbai and sentenced him to undergo 04 years Rigorous Imprisonment with fine of Rs.2,50,000/- in a bribery case....

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Posted Under: Income Tax |

MOF Term “Certain Categories” Created Havoc

Every professional of this country must remember what they were doing at 5.22 PM on 26th July 2018. They were busy with calculations, figures and looking towards their wristwatch about the probable time to leave their offices in these busy moments of ITR filing. It was an active day, but an extension of two weeks […]...

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Posted Under: Income Tax |