Income tax Return Filing Tips

Extend due date of filing Income Tax Return: AIFTF

Income Tax - All India Federation of Tax Practitioners has submitted a Memorandum to request for Extension of Date for filing Income Tax Return for assessment year 2019-20 considering hardship of taxpayers....

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Compulsory Filing of ITR if You Pay Electricity Bills of over Rs. 1 Lac

Income Tax - Currently, certain category of person e.g. Individual, HUF are required to file a tax return only if his total income exceeds maximum amount not chargeable to tax. With the objective of ensuring governance in Budget 2019 Proviso to Section 139 (1) has been inserted and the scope of tax-return filing requirement has been widened by [&helli...

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Challenges Faced By an Assesses While Filing ITR

Income Tax - It is required from every taxpayer to accurately file an Income Tax Return (ITR) for the Income Tax Department to conveniently collect the correct amount of tax. ITR filing is a complex task. Each and every process needs proper attention and adherence to the guideline of the Tax Department. While filing an ITR ensure that […]...

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Avoid These 16 Mistakes While Filling Income Tax Return (ITR)

Income Tax - An Income tax return (ITR) is a form filed with the Income tax authority of India that reports about income, expenses, assets and liabilities in addition to other pertinent tax information. Tax returns allow taxpayers to calculate their tax liability, schedule tax payments, or request refunds for the over-payment of taxes. You have to fil...

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Step to keep in mind while filing income tax return for FY 2018-19

Income Tax - The followings are the important steps/points/precautions to be kept in mind while filing the return of income (Income Tax Return) for the previous year 2018-19 i.e Assessment Year 2019-20: 1. Identify the suitable Income Tax Return (ITR) form The first step would be to identify the tax return form applicable for an individual taxpayer, a...

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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"

Extend due date of filing Income Tax Return: AIFTF

All India Federation of Tax Practitioners has submitted a Memorandum to request for Extension of Date for filing Income Tax Return for assessment year 2019-20 considering hardship of taxpayers....

Read More
Posted Under: Income Tax | ,

Compulsory Filing of ITR if You Pay Electricity Bills of over Rs. 1 Lac

Currently, certain category of person e.g. Individual, HUF are required to file a tax return only if his total income exceeds maximum amount not chargeable to tax. With the objective of ensuring governance in Budget 2019 Proviso to Section 139 (1) has been inserted and the scope of tax-return filing requirement has been widened by [&helli...

Read More
Posted Under: Income Tax | ,

Challenges Faced By an Assesses While Filing ITR

It is required from every taxpayer to accurately file an Income Tax Return (ITR) for the Income Tax Department to conveniently collect the correct amount of tax. ITR filing is a complex task. Each and every process needs proper attention and adherence to the guideline of the Tax Department. While filing an ITR ensure that […]...

Read More
Posted Under: Income Tax |

Avoid These 16 Mistakes While Filling Income Tax Return (ITR)

An Income tax return (ITR) is a form filed with the Income tax authority of India that reports about income, expenses, assets and liabilities in addition to other pertinent tax information. Tax returns allow taxpayers to calculate their tax liability, schedule tax payments, or request refunds for the over-payment of taxes. You have to fil...

Read More
Posted Under: Income Tax |

Step to keep in mind while filing income tax return for FY 2018-19

The followings are the important steps/points/precautions to be kept in mind while filing the return of income (Income Tax Return) for the previous year 2018-19 i.e Assessment Year 2019-20: 1. Identify the suitable Income Tax Return (ITR) form The first step would be to identify the tax return form applicable for an individual taxpayer, a...

Read More
Posted Under: Income Tax |

Master guide on Requirements of ITR Filing for A.Y. 2019-20

Download below Presentation on Requirements of ITR Filing The new Returns for filing has been notified and enabled for filing for the Assessment Year 2019-20. The presentation covers the changes in the Finance Act for reporting of Income as well as new requirements for filing of Return of Income. Glance of General Changes of Income Expan...

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Revised Return and Belated Income Tax Return Filing

Made mistake while filing your ITR? It is usual that sometimes we make mistakes while filing our Income tax return online, this might be a case of sufficing incorrect figures, taking unjust deductions, ignored interest incomes and other income sources etc. It is necessary that we take utmost care to avoid such probable mistakes. But [&hel...

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Posted Under: Income Tax |

Missed 31st August Deadline for filing Income Tax Return? What Now?

Most of tax payers comply with 31st July (Income Tax Return Due Date extended to 31/08/2018 for A.y 2018-19) deadline for filing Income tax returns. However many miss out due to other commitment in professional and personal life. Missing the deadline does not mean you cannot file your return. Infact if you have missed to file your return ...

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Posted Under: Income Tax | ,

Things to be done before March 31 by individual Assessee

Tax Planning is important for every taxpayer and the same needs to be done before the end of the year to which Income Pertains. In Addition to Tax Planning Assessee needs to Collect Relevant Supporting and Calculate His Tax Due and Pay the same....

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Posted Under: Income Tax |

FAQ on ITR -V – How to send / Open, Password

In this Article we have dealth with Some of the FAQ related to ITR -V  i.e. 1. What date should be provided in case 'Ancestral Date' is written on PAN Card ? 2. Can I send the ITR-V to CPC by Registered Post?  3. What are other formalities to be done after I print ITR-V?  4. I have not received a copy of ITR-V in my mail id or the ITR-...

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Posted Under: Income Tax |

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