Income Tax Return: The Income-Tax Department has released new Income-Tax Return (ITR) forms. Income Tax Return: The Income-Tax Department has released new Income-Tax Return (ITR) forms. So, all those who have to do their ITR filing for the financial year 2019-20 (assessment year 2020-21) should note, which ITR form is for them or else it will create problems for them. The Central…
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Filling an ITR form is not really difficult. One can actually take care of it all alone. The procedure is quite straightforward. In any case, you have to keep in mind a couple of things before recording the income tax form. Likewise, this year, the I-T office has informed a few new assessment form frames which are appropriate for the…
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If you are in those tax payers who have not got any notice of tax demand then do not worry because now your refund can not be adjusted with outstanding demand without a prior notice. According to the income tax act, a valid notice has to be given to the taxpayer before making any adjustments against the demand. A notice…
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If you have filled your ITR return form and submitted it, then you must be waiting to check the status of the ITR return file. Well, you can definitely do that but only after the return has been filled and verified thoroughly. It is advisable to check the status of the ITR return to make sure that it has been…
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The Income Tax documenting season for Assessment Year 2018-19 and Financial Year 2017-18 has begun and citizens’ strains have begun rising! Salary charge is an immediate assessment and is paid by a citizen legitimately to the Government of India. It is compulsory to cover pay government obligation for the individuals who have an assessable salary. Your duty obligation fluctuates relying…
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In an offer to execute the administration’s central goal to make India a cashless or less money nation and get rid of debasement, the Income Tax Department has again cautioned individuals to avoid extensive money exchanges, a contradiction of which may result in the collect of punishment or forbiddance of duty derivations. Following are the 5 exchanges that the Income…
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In order to find the deducted tax from your income, its important to know how to compute the taxable income. Once you know what your taxable income is, it will become easier for you to calculate the taxable amount. The income tax amount will be based on these 5 primary things. 1. Income that you earn. 2. Income from any…
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After the filling the income tax return form successfully, the next thing to do is verify it. The Income Tax Department begins preparing your return, once it is checked. Refunds, assuming any, are prepared for restores that have been submitted and checked. ClearTax prescribes that you check your return by means of net banking. It is the most effortless and…
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It’s 2018 and things have changed, now the taxpayer has to explain all the exemptions claimed by him while reporting his income in Income tax return and not the Tax preparer i.e Chartered Accountant or any other person authorised to prepare ITR. The taxpayer would be the person who would have to answer and explain every deduction he claimed. There…
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