PM CARES 80G Tax Benefit: The Central Board of Direct Taxes (CBDT) has communicated that the employees who have made a donation towards Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund) through their employers will not Read more…
Category: ITR Filing
Effects On Filing Income Tax Return After Due Date Interest If you don’t file your Income Tax Return on time when you have an outstanding tax liability, the I-T department can penalise you by charging interest under section 234A. The Read more…
Major Changes : Taxpayer to give GSTN number along with details of other indirect Tax registrations like Sales Tax, Service Tax etc. The New form 3CD seeks for information of Gifts that are chargeable to tax as per clause (x) of Read more…
1. ITR 1 Applicability: ITR 1 can be filed by individuals being a resident other than not ordinarily resident (ROR) having -Income from Salaries, -One house property, -Other sources (Interest etc.) and -having total income upto ₹ 50 lakhs. 2.Non-applicability Read more…
Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19 vide notification no. 16/2018 dated 03rd April 2018. Few points to be noted about new ITR are as follows:- 1. Simplified one Read more…