ITR 4S also called as SUGAM is an Income Tax Return Form is mainly filed by taxpayers who do not maintain regular books of accounts and compute their income under Section 44AD @ 8% of the Total Turnover of the...
ITR 4S also called as SUGAM is an Income Tax Return Form is mainly filed by taxpayers who do not maintain regular books of accounts and compute their income under Section 44AD @ 8% of the Total Turnover of the...
The Due Date for filing ITR 2 Form is 31st July of the assessment year. So if you are filing your income tax return for the financial year 2015-16, the due date of filing ITR 2 Form would be 31st July 2016....
With the govt having mandated compulsory e-filing of income tax returns of all assesses with Income over Rs. 5 Lakhs pa, manual filing of income tax returns has reduced drastically as a huge portion of the taxpayers would now be...
Most of the Indians are under the impression that a PAN Card can only be allotted once a person turns 18 years of age. However, this is a myth as Minors can also apply for PAN Card and the Income...
At the time of any real estate transaction, there are several taxes on sale of property. Some of these taxes on sale of property are to be borne by the Buyer and some are borne by the Seller. Moreover, there...
Some employers provide medical reimbursement facility to their employees for the medical expenses incurred by the employees. This article explained the levy of Income Tax on Medical Reimbursement provided by the employer to the employee. Income Tax on Medical Reimbursement...
The Income Tax Department releases the updated ITR Utility every year for online income tax efiling which can be downloaded free of cost. Till now, the ITR Utility Sofware was an excel file through which details in the income tax...
To promote the Retail Investor to invest in Shares and Mutual Funds, the Govt has introduced the Rajiv Gandhi Equity Saving Scheme (RGESS) which allows a deduction under Section 80CCG for Investment in specified equity shares and Mutual Funds. The...
Loss from House Property is a fairly popular scenario and commonly arises while filing the Income Tax Return. In this article, we would mainly be focussing on the Reason for Loss from House Property and the Income Tax treatment of the...
Deduction under Section 80GGA is an Income Tax Deduction for Donations made for Scientific Research or Rural Development. The whole amount given as donation to the institutions specified under Section 80GGA is allowed as a deduction under Section 80GGA. In...