How to calculate capital gains Calculation of capital gains can be a complex and challenging mission relying on the nature and the number of transactions undertaken by the assessee in a financial year. It is always suggested to take the advice from an professional like a chartered accountant for the same. However, Assessee can also […]
Category Archives: Income Tax
Income Tax is the tax which directly levy on income of any personal.Central Board of Direct tax manage all the things related Direct Tax.
Which ITR form to fill and how to fill for FY 2016-17. The Central Board of Direct Taxes (CBDT) notified ITR form for the Financial Year (FY) 2016-17 on March 31, 2017. The government also mandated quoting of Aadhaar number/ Aadhaar enrolment number while filing the tax return if the same is filed on or […]
Benefits of filing ITR by individuals When it comes to filing of income tax return, many Individuals are of the opinion as to why the return must be filed. Though salary class individuals duly file their IT returns due to compulsion of having Tax Deduction at Sources, there are many other categories of Individuals who […]
IT department will probe cases of spike in income under revised returns Those who showed a sudden spike in income when filing revised tax returns after demonetisation should now prepare themselves to face scrutiny.
Types of Cash transaction required to be reported in Form 61A Specified financial transaction General query for Cash transaction which is required to be reported in Form 61A Under Rule 114E of the Income Tax Rules, the statement of financial transaction in Form 61A is required to be furnished in compliance with section 285BA of […]