Home » Archive by category "Income Tax" (Page 4)

Mismatch of PAN with Aadhaar – What to do ?

Aadhaar_PAN

Aadhaar mandatory for filing income tax returns and for linking of PAN with Aadhaar to curb tax evasion through use of multiple PAN cards – proposed by Finance Minister in Finance Bill of the Budget for 2017-18, If you do not have Aadhaar Linked to...

Read More

IT Department introducing e-proceeding

All Income Tax department-related proceedings between the taxpayer and the taxman from the new fiscal will be conducted online, the CBDT today declared. This is as part of its initiative to minimize human interface between the assessee and the Assessing Officer (AO) thereby reducing complaints...

Read More

Income from Future & Option Trading

ITR filling and Tax Audit for Income from Future & Option (F & O) Trading As the volume & value of transactions is very high and amount of profit earned on these transactions is fairly small for traders dealing in F&O segment, the manner of...

Read More

Section 269ST – Cash Transactions with Examples

In this article we elaborate section 269ST of IT Act, in respect of Cash Transaction provisions applicable from 01-Apr-2017 on wards with examples. Point No. 1. From which date this section is applicable? This section applies from 01/04/2017 (F.Y.2017-18 onwards) Point No. 2. What are...

Read More

Snippet of Changes in New ITR Forms for AY 2017-18

The CBDT has notified new income-tax return forms (ITR forms) for the assessment year 2017-18. It has prescribed simplified version of ITR-1 with fewer columns. A new column has been inserted in ITR Forms to report cash deposits in banks above 2 lakhs during the...

Read More

The Finance Bill 2017 Cleared in LS

The Finance Bill 2017 with 40 amendments passed in Lok Sabha The Finance Bill 2017 passed in Lok Sabha. Various amendments have been made in the Bill, One of the important amendments was making Aadhaar number mandatory for filing of Income Tax returns. Glimpse of...

Read More

Cash transaction related proposals in Budget 2017

In a bid to Cashless Economy Mission, the Government has proposed many provision to curb cash transactions in Budget 2017   After a few days, the new financial year 2017-18 is being commenced, Government has tightened screw on cash transactions in Budget 2017. Business entity...

Read More

FAQ on Advance Income Tax Payment

Advance Income Tax – Financial year 2016-17 is on the brink of the completion, let’s discussed on it. Q.1. What is Advance Income Tax? Ans. Advance tax is a payment tool in which tax is deposited by assessee in installment instead of lump sum amount deposited...

Read More

Housing For All by 2022 – Pradhan Mantri Awas Yojana

In a bid to PM’s mission “ Housing For All by 2022” under Pradhan Mantri Awas Yojana to provide affordable housing to poor and the underprivileged. In Budget 2017-18, The FM has granted affordable housing segment as “ Infrastructure” status. The Government indicates that the...

Read More

Salient features of Sukanya Samriddhi Accounts

Salient features of Sukanya Samriddhi Accounts including Tax Rebate: A legal Guardian/Natural Guardian can open account in the name of Girl Child. A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two...

Read More