Who are required to file & mode of filing of ITR-5 for AY 2014-15 1. Who can use this Return Form? ITR-5 can be used a person being a firm, LLPs, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), cooperative society and local authority. However, a person who is required to file the […]
Tag Archives: Income Tax updates
I-T returns should also include wealth tax returns I-T returns should also include wealth tax return so that the taxpayer need not separately file wealth tax returns. These returns should also be processed together in the CPC at Bengaluru.
ICAI suggests Generation of Form No. 15G, 15H ,60 and 61 through system Issue – Form No.15G/15H is a form of declaration that has been prescribed for those persons who desire to receive certain specified income without deduction of tax at source. These forms can be used only if the aggregate income of the person […]
Public Provident Fund (PPF) Scheme Public Provident Fund Scheme Is a scheme govern under the said Act 1968 by the central Government.Scheme is a safe product, And tax beneficial investment, which has low risk, Individuals (residents) are eligible to open their account under the Public Provident Fund scheme. Accounts may also be opened under the […]
Significant Changes in Income tax Returns for FY 2013-14 Time to Time income tax departments make various changes in income tax returns according to requirement of that time .Out of few interesting of them is given here:- 1. Refund through cheques has been stopped and only e-refund allowed. Controversy: There are two option available for refund […]