Tax Filing for Foreigners in India

By | 2018-08-08T11:21:21+00:00 June 11th, 2016|Categories: Income tax basics|Tags: , , |

Read the article to understand the tax liability of Foreigners in India Who is a Foreigner? A Foreigner is a person residing in a country which is not his native/host country and is a temporary resident. Is the Income of Foreigners taxable in India? The tax on Income in India  depends upon the person’s whether he [...]

Know About Form 16

By | 2018-08-08T11:19:10+00:00 June 10th, 2016|Categories: Income tax basics|Tags: , , , |

Read the article to understand Form 16 Form 16- An Overview Form 16/ Certificate of TDS (Tax Deducted At Source) is a legal document provided by the employer to the employee at the end of every financial year which includes the information about the TDS from the income of the employee i.e., employee’s salary and that [...]

ITR-7 Form

By | 2018-08-08T08:56:54+00:00 June 10th, 2016|Categories: Income tax basics|Tags: , , , |

Read the article below to know all about ITR-7 and when to fill it What is ITR-7 FORM? ITR-7 Form is used to file income returns by all individuals and companies that come under Sections: 139(4A), 139(4B), 139(4C) OR 139(4D). It can also be filed by those whose income is for the charity/religious offerings, news organizations, [...]

How to view Form 26AS

By | 2018-08-08T08:51:53+00:00 June 10th, 2016|Categories: Income tax basics|

How to view your Form 26AS Form 26AS is the annual statement in which the details of the tax credit are maintained for each taxpayer by Income-tax Department of India. Form 26AS can be viewed and downloaded through TRACES website. Here are the steps to do the same: Detailed steps with pictures are as follows: First, go [...]

Income Tax for NRIs

By | 2018-08-08T08:48:08+00:00 June 10th, 2016|Categories: Income tax basics|Tags: , , |

Know all about the income tax payment which NRIs are liable to pay, read the article below. Who is an NRI (Non-Resident Indian)? A person who belongs originally from India but is not a resident of India is known as a Non-Resident Indian (NRI). According to the Income Tax Department, a person is classified as an [...]

ITR Form 4S– SUGAM

By | 2018-08-08T08:29:48+00:00 June 9th, 2016|Categories: Income tax basics|

Know More About ITR FORM 4S - Sugam   ITR Form 4S which is also called SUGAM is one of the simple and accurate Income Tax Return filing form used by citizens of India/Hindu Undivided Family whose Income is from presumptive business as per section 44AD and 44AE and turnover should be less than 1 crore. Income [...]

Know about ITR-5 Form

By | 2018-08-08T08:27:29+00:00 June 9th, 2016|Categories: Income tax basics|Tags: , , |

ITR-5 Form The ITR-5 form is meant for BOIs (Body of Individuals), Firms, LLPs (Limited Liability Partnerships), AOPs (Association of Persons), Cooperative Society, Local Authority and an artificial juridical person referred to in section 2(31)(vii). Filling out an ITR-5 Form While filling ITR-5 form, the following points must be kept in mind: If any schedule or item [...]

ITR Form 6

By | 2018-08-08T08:25:03+00:00 June 9th, 2016|Categories: Income tax basics|Tags: , |

Know More About ITR Form 6   ITR form 6 is one of the Income Tax Return filing forms to be used by companies other than those companies who have claimed exemption under section 11 (income from property is used on charitable and religious purpose). Instructions to file ITR 6: If any schedule is not applicable, then [...]

Know about ITR-4 Form

By | 2018-08-08T08:17:09+00:00 June 9th, 2016|Categories: Income tax basics|Tags: , , |

ITR-4 Form HUF (Hindu Undivided Family) and individuals who earn their income from proprietary business or those who are carrying on a profession need an ITR-4 Form to file their Income Tax Return online. For audit cases, the due date to file the return using ITR-4 form is 30th September whereas for non-audit cases it is [...]

ITR Form 2A

By | 2018-08-08T08:12:23+00:00 June 9th, 2016|Categories: Income tax basics|Tags: , , |

All you need to know about ITR Form 2A   The Income Tax Department has initiated a new form called ITR  Form 2A. This is mainly for Individuals and Hindu Undivided Families who is a salaried income and owns more than a house and does not have profits in the equity markets. ITR 1 is a [...]