Provisions for Deciding factors of residential status and taxability

For determining the taxability of the income residential status must be seen first. because the taxability of income depends upon the residential status of person. Following is the situations when the taxability of income depends on the status of person First:- what is the residential status of the person as per the Income-tax Act 1961.and […]

Due Dates Regarding Income tax for the October 2014

10th October 2014 -​Due date for deposit of Tax deducted/collected during the month of September, 2014 10th October 2014 -​ Due date for deposit of TDS for the period July 2014 to September 2014 when Assessing Officer has permitted quarterly deposit of TDS. 15 October 2014 -​Quarterly statement of TDS/TCS deposited for the quarter ending […]

Compulsory scrutiny conditions of Income Tax Returns

As Soon as we filed a income tax return to the income tax authorities under section 139 of IT Act,1961 it has to be assessed  as correct .The assessment includes verification and scrutiny of income declared by us.but this process not done by income tax authorities in all cases,it done for selective cases only

‘Single window’ website for Income Taxpayers launched by Finance Minister

F.M launched a new version of the www.incometaxindia.gov.in website today to enable taxpayers for easily filing and appling PAN card.The new version of the website of the Income Tax department will be act as a single window for all activities and online services offered by the I-T department.

Extended date of furnishing audit report with due dates of filing Income tax Returns

A representation by ICAI of wishing exteded due date of filing of return of income along with the date of furnishing audit report.On 15 September 2014 the ICAI through a representation bring to the notice of the Chairman of CBDT about the concerns of the taxpayers on account of not extension of due date of […]