Income tax Return Filing Tips

25 Important Points to Consider before Filing of Income Tax Return

Income Tax - Article compiles 25 Important Points to be Considered before Filing of Income Tax Return for Financial Year 2017-18 / Assessment Year 2018-19. ...

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Do’s and Don’ts Before You Submit Your Income Tax Return

Income Tax - Filing your tax return isn’t as simple and the outlined Do’s and Don’ts will help you in filing your income tax return correctly to ensure speedy processing by the Income Tax Department (ITD)....

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Five rare benefits of filing regular ‘Income Tax Returns’

Income Tax - What is the benefit of filing income tax return? This is the first question when a client ram into the office of a CA or Tax lawyer. Generally professionals have predefined answers like it benefits for Loan, CC limit, or being loyal with the govt etc. But do every one of us know what is […]...

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Mistakes to Avoid while Filling Income Tax Return

Income Tax - It has been observed that many times while filling Income tax returns assess makes some common error or mistake. Let’s look and understand such issues and make sure that such errors or mistakes are avoided while filling income tax return. 1. Financial Year (FY) and Assessment Year (AY) are different. Make sure you enter correct [&hellip...

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Must components in your Salary to minimise tax burden

Income Tax - Salary income is taxable in the hands of an individual in the year of receipt or earning of salary income, whichever is earlier. Here are some of the safe components of your salary structure which can minimse your tax burden and help you plan your Salary Structure - ...

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Match Incomes/ Receipts & deduction claimed with Form 16/16A

Income Tax - Taxpayer Submitting Income Tax Return for Assessment year 2017-18 to ensure Incomes/Receipts and deduction claimed matches with Form 16/16A issued by deductor ...

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Requirement to quote Aadhaar in ITR not applicable to Non Resident

Income Tax - Section 139AA of the Income-tax Act, 1961 as introduced by the Finance Act, 2017 provides for mandatory quoting of Aadhaar / Enrolment ID of Aadhaar application form, for filing of return of income and for making an application for allotment of Permanent Account Number with effect from 1st July, 2017. ...

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Dual factor authorization to secure Income Tax E-filing account

Income Tax - In order to ensure that taxpayers are able to secure their E-filing account against any fraudulent attempts, the Income Tax Department has introduced a new facility called the E-filing Vault. In order to use this facility, taxpayers can log in to their E-filing Account and under their profile page select E-filing Vault – higher security...

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Login to Income Tax E-filing Account from your Bank Account

Income Tax - Income Tax Department is happy to announce the facility of Direct Login from Corporation Bank, Union Bank of India and Oriental Bank of Commerce – Net banking account to the taxpayer’s E-filing Account. Other banks are expected to follow....

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Avoid Last Minute Rush; Pay IT in Advance at Bank Branches

Income Tax - Avoid Last Minute Rush; Pay IT in Advance at Bank Branches/RBI: RBI appeals to Public The Reserve Bank of India has appealed to public to avoid last minute rush and remit their Income-tax dues sufficiently in advance of the due date of September 30, 2013. It has also urged the assessees to take advantage of […]...

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Generate EVC for e-filing of ITR by giving Bank/ Demat A/c details

Notification No. 1/2016 - (19/01/2016) - Notification No. 1/2016 Where the EVC (Electronic Verification Code) is generated by giving bank details to the e-filing website https://incometaxindiaefiling.gov.in or Where the EVC (Electronic Verification Code) is generated after Demat account authentication using Demat details registered with CD...

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e-filed Return of Income for A.Y. 2013-2014 and 2014- 2015 can also be verified through EVC

2251141/2015/ITA.II - (20/07/2015) - The Central Board of Direct Taxes has vide Notification No. 41/2015 dated 15.04.2015 in cases of categories of 'persons' specified therein, has introduced Electronic Verification Code ('EVC') as one of the modes for validation of return of income which are filed electronically on or after 01.04.20...

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Exemption to Salaried Employees from Filing of I-T Returns for A.Y. 2012-13

PRESS RELEASE [NO. 402/92/2006-MC (15 OF 2012)] - (20/07/2012) - Central Board of Direct Taxes (CBDT) vide its Notification No. 9/2012 dated 17th February, 2012 has exempted salaried employees from the requirement of filing the returns for assessment year 2012-13. The exemption is applicable only if all the following conditions are fulfilled:- • Employee has ea...

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Recent Posts in "Income tax Return Filing Tips"

25 Important Points to Consider before Filing of Income Tax Return

Article compiles 25 Important Points to be Considered before Filing of Income Tax Return for Financial Year 2017-18 / Assessment Year 2018-19. ...

Read More
Posted Under: Income Tax |

Do’s and Don’ts Before You Submit Your Income Tax Return

Filing your tax return isn’t as simple and the outlined Do’s and Don’ts will help you in filing your income tax return correctly to ensure speedy processing by the Income Tax Department (ITD)....

Read More
Posted Under: Income Tax | ,

Five rare benefits of filing regular ‘Income Tax Returns’

What is the benefit of filing income tax return? This is the first question when a client ram into the office of a CA or Tax lawyer. Generally professionals have predefined answers like it benefits for Loan, CC limit, or being loyal with the govt etc. But do every one of us know what is […]...

Read More
Posted Under: Income Tax | ,

Mistakes to Avoid while Filling Income Tax Return

It has been observed that many times while filling Income tax returns assess makes some common error or mistake. Let’s look and understand such issues and make sure that such errors or mistakes are avoided while filling income tax return. 1. Financial Year (FY) and Assessment Year (AY) are different. Make sure you enter correct [&hellip...

Read More
Posted Under: Income Tax |

Must components in your Salary to minimise tax burden

Salary income is taxable in the hands of an individual in the year of receipt or earning of salary income, whichever is earlier. Here are some of the safe components of your salary structure which can minimse your tax burden and help you plan your Salary Structure - ...

Read More
Posted Under: Income Tax |

New income tax return forms with fresh requirements

Every year, the CBDT notifies the new income tax return forms and for the assessment year 2018-19 also CBDT has released the new income tax return forms. These forms will be applicable for the income tax return of 01-04-2017 to 31-03-2018 period. With the help of this write up we will be able to understand […]...

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Posted Under: Income Tax |

Changes in ITR Forms you must know before filing for A.Y. 2018-19

Matters which you must be understand before filling of ITR forms for AY 2018-19; Changes in Income tax return forms for AY 2018-19  A. ITR-1 For individuals being a resident other than not ordinarily resident having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs. 50 lakh: S.No. Pa...

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Posted Under: Income Tax | ,

How to File own Personal Income Tax Return Online

Filing of income tax returns is recommended to everyone because of its various benefits such as you can get future loans processed easily, easy VISA processing, benefits while choosing life/health insurance, easy refund of tax deducted by employers/payers, you get to verify your salary with what company shows to the government and most im...

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Posted Under: Income Tax |

15 Important tasks of Income tax to be done before March end!

Following are the 15 important tasks of income tax which should be done before march end: 1. Last chance to file returns for the financial year 2015-16 and 2016-17 – If the taxpayer has not yet filed the income tax return for the financial year 2015-16 and 2016-17, then it is last chance to file the returns upto 31st march. After that t...

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Posted Under: Income Tax | ,

7 Common Reasons Why You Get Income Tax Notices

1. Due to TDS You may be slapped with a notice by the department if there is any mismatch in the amount of TDS which you have shown in your return and the actual TDS that has been deducted during the year. For example, In case, your employer forgot to file TDS return but the […]...

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Posted Under: Income Tax | ,
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