Sponsored
    Follow Us:

Labour code and its financial impact on salaried

January 14, 2021 9966 Views 2 comments Print

How the new labour code will impact you financially While offering salaries in the private sector the employers generally restrict the component of basic salary to bare minimum to keep its minimum its own contribution for employee provident fund (EPF)  as well as payment of gratuity when the employee leaves the employment. The balance part […]

What if you do not file your ITR for year ended 31st March 2020 by 10th January 2021

January 10, 2021 12828 Views 0 comment Print

The due date for filing of the Income Tax Return (ITR) for the financial year 2019-2020 i.e. assessment year 2020-2021 for general category of taxpayers and which covers all salaried was 31st July 2020 and  has since been extended till 10th January 2021 as of now. What happens in case you miss the bus and […]

Who can use ITR 2, ITR 3 and ITR 4?

December 26, 2020 34482 Views 6 comments Print

In an earlier article we have discussed about who can and cannot use the ITR 1 (Sahaj). In addition to ITR 1, ITR 2, ITR3, and ITR 4 can also be used by an Individual, so it is fit and proper for us to understand as to who can submit the   remaining ITRs.  Form ITR […]

Tax Implication of Overstaying in India due to lock down

December 25, 2020 2103 Views 0 comment Print

Do those who have been stranded due to lock down become tax resident due to overstay? Under the tax laws, residents are required to pay tax on their global income whereas non residents have to pay tax on their Indian income only. Your residential status is determined on the basis of aggregate period of your […]

Who can use ITR 1

December 23, 2020 8523 Views 3 comments Print

Form ITR 1 popularly known as Sahaj is used by significant majority of tax payers. I am writing this article to help the taxpayers understand who can file it and who cannot. Who can submit ITR 1 ITR 1 can be used by an individual who is resident of India for tax purposes only. Moreover […]

Avoid these small mistakes while filling up your ITR form

December 22, 2020 11670 Views 4 comments Print

As the extended deadline of filing Income Tax Return (ITR) for the financial year 2019-2020 i.e. assessment year 2020-2021, is fast approaching, I wish to point out certain common mistakes which you need to avoid while filling up ITR forms specially who those who file it themselves. Update your basic contact details The income tax […]

How to comply with requirement of disclosure of assets in ITR forms

December 21, 2020 6744 Views 0 comment Print

Some of the taxpayers are required to disclose details of certain assets owned by them as well as liabilities owed by them in their ITR. As there is confusion in the minds of taxpayers as to who is required to disclose these details and what assets are covered under this requirement I thought of explaining […]

How to prepare for filing of your ITR

December 19, 2020 21195 Views 1 comment Print

Before you actually sit down to upload your income tax return (ITR) or visit your Chartered Accountant for filing your ITR, it is better you do some ground work to save the time as well to ensure that full particulars are submitted without any omission. Let us discuss what preparatory ground work you should do […]

Do not forget these Incomes while filling income tax return

December 18, 2020 13932 Views 7 comments Print

Do not forget these Incomes generally omitted while filling income tax return Since significant number of salaried people file their income tax return themselves and thus may some commit some omissions not with any intention but due to sheer ignorance of the law. Based on my experience of practicing as a Chartered Accountant, I wish […]

How to Become and Remain Atmanirbhar Throughout Your Life

December 3, 2020 4062 Views 0 comment Print

When the nation is becoming Atmanirbhar, why should we Individuals lag behind? Let us discuss how we can Atmanirbhar and remain Atmanirbhar during all the phases of life. Early days in life Gaining basic knowledge about finance Ideally personal finance should be taught in the school. The basic knowledge about importance of compounding and time […]

Sponsored
Sponsored
Search Post by Date
November 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930