Deposit of Tax deducted and Demand for TDS Defaults with respect to Purchase of Immovable Property (26QB Statement-cum-challan) Here is a important tips, for the convenience of Taxpayers, who have executed any transaction for Purchase of Immovable Property exceeding Rs. 50 Lakhs (Rupees Fifty Lakhs). Please take note of the following key details for Payments […]
Avoid common mistakes while filling your Income Tax Return (ITR) form. Ensure accuracy in PAN details, name, date of birth, and address to prevent computation errors.
Registered user can reset the password using one of the following options: 1. Answer Secret Question. 2. Upload Digital Signature Certificate 3. Using OTP (PINs)
Individuals who are employed and contributing to NPS would enjoy tax benefits on their own contributions as well as their employer’s contribution as under
As per the information received in Annual Information return (AIR) through Registrar/Sub-registrar, you have executed transaction for Purchase of Immovable Property exceeding Rs. 50 Lakhs (Rupees Fifty Lakhs) during Financial Year. However TDS Statement in Form 26QB has not yet been filed by you. In this regard, your urgent attention is invited to the following, […]
The Government in its commitment to curb the circulation of black money and widening of tax base has made quoting of PAN compulsory for specified transactions.. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent Account Number (PAN) where the transactions exceed a specified limit.
Section 80D provides a deduction for contribution towards the health insurance premium to the extent of Rs 15,000 paid for self and family. If the policyholder is a senior citizen, the benefit can increase to Rs 20,000. Mostly people take only this benefit into account and consider the maximum limit here to be the highest amount that can be utilised for tax benefit. However, an additional deduction is possible and can be utilised.
PAN card is something which becomes one of the key document to reveal individual identity. Let us first understand that how PAN card is important for card holder to safe guard public pan money from many cheaters in the society
Important points to keep in mind before filing income tax return. Learn about selecting the correct form and other key considerations for AY 2020-21.
For Deductors’ convenience, CPC (TDS) has established processing logic in the system that can accept a Single Challan per month for reporting of Tax Deposited in following circumstances : Situation 1: Where Payment of Tax Deducted is required under ‘different sections‘ of the Income Tax Act, 1961: The CPC (TDS) system gives credit of TDS […]
