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.
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.
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 […]
Deadline for employers to provide Form 16 is May 31 Now time has come to an employer to inform you about the taxes deducted in the previous year and get Form 16 i.e. for the financial year 2016-17. Each month, the employer would have deducted tax at source (TDS) on your salary income and deposited […]
How to Open NPS Account Offline I have realized that though a lot of people have heard about the NPS but only very few people are aware about how it functions, including how to open a NPS account. I therefore have decided to write about how to open your NPS account in physical form. This […]
Home loan tax reliefs often missed by taxpayers The Union budget of 2017 brought mixed bundle of joy for the taxpayers. While the section 80EE was re-introduced, holding period was lowered which brought cheers for the taxpayers, on the other hand, the individuals claiming a loss on the let out property or deemed to be […]