New process of refund under the Income tax Act Refund process under the Income tax becomes more stricter than earlier through the amended Section 143 (1) A of the Income Tax Act, The Income tax department is suspecting that most of the taxpayers are getting refunds by declaring the taxable income comparatively lesser than the […]
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.
Controlling of shrinkage in Retail – Importance What is Inventory Shrinkage? In today’s competitive retail world, retailers are tasked with more responsibility than ever before. Not only do they have to deal with increased competitive pressures and ever-shrinking margins but also the age old problem of shrinkage.
How to claim tax exemption on HRA without landlord’s PAN I am salaried and get HRA as a part of my salary. Currently, I am staying on rent but my landlord is not providing the PAN. How should I claim HRA as the employer is insisting on it? If you are paying rent of more […]
Cut TDS from June 1 if paying rent over Rs 50,000 per month: Here’s how to do it An individual or HUF paying rent over Rs 50,000 per month is now required to deduct tax at source (TDS). The government recently introduced section 194IB in the Income-tax Act making it mandatory for a tenant to […]
Penalty for filing income tax return after due date is only applicable from FY 2017-18 The government has introduced a maximum fee amount of Rs.10,000 for delayed filing of income tax return by individuals in the last budget presented in February this year.