Many time Assessee want to know his Income tax jurisdiction i.e. Income tax ward under which he is assessed. If you are filing your income tax Return manually it is must to be aware of your income tax Jurisdiction as you can file you income tax return only with the Income tax officer under whose jurisdiction you fall. Now Assessee wonders, is there a way he can know his Income tax jurisdiction easily? Income tax department has launched a online service namely ‘KNOW YOUR JURISDICTION’ by which you can know your jurisdiction by entering your PAN.
Download the Justification Report from TRACES portal to view your latest outstanding demand. On downloading the Justification Report.Use Challan ITNS 281 to pay the above with your relevant Banker or use any other Challan, which has adequate balance available
Who is liable to deduct TDS u/s 194J? What is the point of deduction of TDS u/s 194J? At what rate tax to be deducted u/s 194J? Under what circumstances there is no need to deduct TDS u/s 194J? What is the meaning of professional Services in reference to S. 194J?
According to section 50 of Income tax act if an assessee has sold a capital asset forming part of block of assets (building, machinery etc) on which the depreciation has been allowed under Income Tax Act, the income arising from such capital asset is treated as short term capital gain.
Survey in a wider sense means to scrutinize or to inspect. The power of survey under the Income tax Act has been provided U/S 133A and 133B. The provisions contained in section 133A are independent and to the exclusion of the other provisions of the act since the wording of the section starts with ‘Notwithstanding anything contained in any other provisions of the act .
The amount on claim or maturity under a keyman insurance policy is not exempt under Section 10 (10D) of the Income Tax Act if the company is paying the premiums. However, in case the policy has been assigned to the keyman and the keyman is paying the premiums, then the claim/maturity proceeds are exempt under Section 10 (10D).
To view BIN details provide TAN, Nature of Payment , Form 24G month/year range. To view BIN details of particular AO, provide the AIN of AO in addition to above mandatory details.BIN is to be quoted in the Transfer voucher details while preparing the quarterly TDS/TCS statements.
Salary is the remuneration received by or accruing to an individual, periodically, for service rendered as a result of an express or implied contract. The actual receipt of salary in the previous year is not material as far as its taxability is concerned. The existence of employer-employee relationship is the sine-qua¬non for taxing a particular receipt under the head salaries.
Agricultural income is exempt from Income Tax under section 10(1) of the Income Tax Act, 1961. However, its included, for rate purposes, in computing the Income Tax Liability if following two conditions are cumulatively satisfied: Net Agricultural income exceeds INR 5,000/- for P.Y. 2014-15, and Total income, excluding net Agricultural income, exceeds INR 2,50,000/-.
Article explains How to Download TRACES PDF Generation Utility, Procedure to install TRACES PDF Generation Utility and Procedure to convert text file into PDF. Article also provides link from where such Utilities can be downloaded. Article explains how TRACES PDF Generation Utility should be used to convert text file for Form 16 / 16A into […]
