Income Tax

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How to link Aadhaar Card with Income Tax Return (ITR)?

From Assessment Year 2015-16 onwards, the Income Tax Department has extended facility of verifying and signing the Income Tax Return through the Aadhaar Card. The taxpayer would be required to… Read More

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How to file an Income Tax Return (ITR)?

It’s that time of the year again when the common man is buzzed with the question of how to file an Income Tax Return (ITR). The Income Tax Returns can… Read More

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Income Tax efiling Online in 6 Simple Steps for Free

Income Tax efiling can be done online through the Income Tax Website without any cost in 2 different ways:- Income Tax efiling by downloading the ITR Java utility or the… Read More

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ITR 2A: All about new Income Tax Form for AY 2015-16

The Income Tax Department has released the new ITR Forms applicable for AY 2015-16. This year the Income Tax Department has introduced another new ITR Form i.e. ITR 2A. This… Read More

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ITR Form: Which Income Tax Form should you submit in 2015?

ITR Form have been released by the Income Tax Department for Financial Year 2014-15 i.e. Assessment Year 2015-16. There are different ITR Forms (Income Tax Forms) for Different categories of… Read More

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How to submit ITR 1 Form (SAHAJ) online in 2015

ITR 1 Form (also known as Sahaj) is one of the most popular form for filing Income Tax Returns because it applies to most of the Salaried Employees. However, it… Read More

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Section 80CCC: Tax Deduction for Contribution to Pension Funds

Section 80CCC was introduced so as to encourage taxpayers to invest in Pension Funds and secure their future. Section 80CCC provides for Income Tax Deduction for contribution to Pension Funds… Read More

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Amendment in Section 288: Appointment of Auditor: Budget 2015

Budget 2015 which was presented by Arun Jaitley on 28th Feb 2015 has introduced an Amendment in Section 288 of the Income Tax Act to provide that an Auditor who… Read More

Form-15G

Form 15G & Form 15H to Save TDS on Interest on Fixed Deposit & Recurring Deposit

Form 15G & Form 15H are self-declaration forms required to be furnished by the Assessee to his Banker for Nil Deduction/Lower Deduction of TDS on Interest on Fixed Deposit/ Recurring… Read More

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Income Tax & TDS on Interest on Recurring Deposit (RD)

When you have a lump-sum amount to invest, it is always advisable to invest in Fixed Deposits. But when you don’t have a lump-sum amount to invest, and can save… Read More

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Section 80DDB: Deduction for Treatment of Specified Disease

Section 80DDB provides for Income Tax Deduction under Chapter VI-A for payment of medical treatment of a person suffering from a specified disease. The deduction under Section 80DDB is allowed… Read More

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Wealth Tax in India abolished & removed: Budget 2015

Wealth Tax in India was introduced in India in the year 1957 and is levied on Individuals, HUF’s and Companies if the Net Wealth of such person exceeds Rs. 30… Read More

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Section 80D: Deduction for Medical Insurance: Budget 2015

Budget 2015 Update: The Deduction allowed under Section 80D is Rs. 15,000 and Rs. 20,000 (for Senior Citizens). Keeping into account the rising cost of Medical Expenses, Budget 2015 has… Read More

Section 80CCD-NPS

Section 80CCD: Deduction for NPS Contribution: Budget 2015

Income Tax Act provides for various deductions under Chapter VI-A for Contribution to Pension Plans. These Deductions are available under Section 80C, Section 80CCC & Section 80CCD and can be… Read More

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Income Tax Slab Rates for 2014-15 & 2015-16 in India

Budget 2015 Update: Finance Minister Arun Jaitley announced the Budget 2015 on 28th Feb and announced that an individual taxpayer can now claim exemption from Income Tax for Income upto… Read More

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