Tag: Income Tax Return

Computation of Short Term & Long Term Capital Gain Tax on Property

At the time of Sale of any Real Estate Property, Tax is liable to be paid on the Gains earned on the sale of the Real Estate Property. Such Gains could either be Short Term Capital Gains or Long Term...

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Advance Tax Payment: Due Dates and Interest on Late Payment

If the Income Tax Liability of any taxpayer is more than Rs. 10,000 in a financial year, then he is liable to pay such tax in installments during the year itself rather than paying this tax at the end of...

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How to submit ITR 1 Form (SAHAJ) online in 2017

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 does not apply to all categories of Salaried Employees as...

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Income Tax on Contract based Employee/Consultant

Many companies have now started hiring employees on contract basis. Such employees although work in the company premises and work as a normal employee but their legal status is not the same as an employee and they are not entitled...

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Income Tax Slab Rates for 2018-19 & 2019-20 in India – Updated

Budget 2019 Update: There is no change in the Income Tax Slabs for the Financial Year 2019-20 and the Income Tax Slabs which were applicable for Financial Year 2018-19 would continue to be applicable. The only difference is that the...

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ITR Form: Which Income Tax Form should you submit in 2016?

ITR Form have been released by the Income Tax Department for Financial Year 2015-16 i.e. Assessment Year 2016-17. There are different ITR Forms (Income Tax Forms) for Different categories of taxpayers and the same has been explained below. Each type...

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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 Deposit. As per Section 194A of the Income Tax Act,...

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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 link his aadhaar card with his PAN No. on the...

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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 be filed either online on the Income Tax Website or...

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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 ITR Excel Utility and furnishing details in the excel utility...

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