Tag Archives: Income Tax updates

How to file Income Tax Return easily

How to file Income Tax Return easily Income tax return filing is a mandatory process that the assessee should carry out with due care. However, the otherwise basic and simple process becomes cumbersome with the lack of knowledge. Read on to know How to file Income Tax Return easily that will make income tax filing […]

Non-Filing of the Income Tax Return – Consequences

Non-Filing of the Income Tax Return – Consequences 31st March’ 2018: The last date for Income Tax return u/s 139(4) for Financial Year 2015-2016 & 2016-2017. Many people have a query that what will happen if we do not file the Income Tax Return by the aforementioned deadline. There are many benefits of filing the […]

TDS on 7.75% GOI Savings (Taxable) Bonds, 2018

TDS on 7.75% GOI Savings (Taxable) Bonds, 2018 The government of India introduced 8% Savings (Taxable) Bonds, 2003 in 2003. Under the existing law, the interest received by the investor is taxable. Further, the payer is liable to deduct tax at source under section 193 of the Act at the time of payment or credit […]

ITR will not automatically fetch income tax notice in case of mismatch in Form 26AS

ITR will not automatically fetch income tax notice in case of mismatch in Form 26AS Budget 2018 has proposed to remove the existing system of income tax return assessment where a return filer would be automatically sent a notice if his/her Form 26AS details did not match with the income declared in the return.

Amendments related to Charitable and religious trusts by FA 2017

Amendments related to Charitable and religious trusts by FA 2017 Finance Act 2017 had made some major changes relating to Charitable and religious trusts. These amendments have the far-reaching impact on the taxation of Charitable and religious trusts. In this Article, we have discussed five major amendments which are affecting Charitable and religious trusts.