Complete knowledge about 16A

By | 2018-08-08T08:10:08+00:00 June 9th, 2016|Categories: Income tax basics|Tags: , , |

Form 16A   When one person makes payment to another then according to the income tax rules a portion of the total payment is to be paid to the Income Tax Department as a tax. This tax is called Tax Deducted at Source or TDS. The Person who makes the payment is called the Deductor and [...]

What is Income Tax Notice?

By | 2018-08-08T08:08:06+00:00 June 9th, 2016|Categories: Income tax basics|Tags: , , |

Understanding Income Tax Notice Getting an Income Tax notice from the Income Tax department is a big deal for many and can be quite stressful. But to say the truth it is over hyped at times. Hearing from the department is not always a bad thing. Sometimes, it may be good news like some money being [...]

ITR Form 2

By | 2018-08-08T08:02:49+00:00 June 9th, 2016|Categories: Income tax basics|Tags: , , |

All you need to know about ITR – Form 2 The Income Tax Department has initiated a form called ITR Form 2. This is mainly for Individuals and Hindu Undivided Families who do not possess any income from business or any profession rather than income received from more than a single property. It is very much [...]

Form – 16 & Verification

By | 2018-08-08T08:00:45+00:00 June 9th, 2016|Categories: Income tax basics|Tags: , |

Form 16 Form 16 which is also called Salary Certificate issued by the employer to all his employees for every accounting year. This is what we called  “Tax deduction at source (TDS)” certificate. It is very important for a salaried employee from the point of view of Income Tax. While Income Tax Return Filing, one should submit [...]

Types of Income Tax Return and preparation of your own ITR

By | 2018-08-08T07:56:19+00:00 June 9th, 2016|Categories: Income tax basics|Tags: , , , |

Types of Income Tax Return and preparation of your own ITR Every Individual who is liable to pay taxes and have an income of more than Rs. 5 lakh is compulsory to deposit their income tax return by Income tax return online. The different forms of ITR are given in detail below, and based on the income [...]

Income Tax Return Filing – Documents required

By | 2018-08-08T07:53:54+00:00 June 9th, 2016|Categories: Income tax basics|Tags: , , |

Income Tax Return Filing – Documents required Every citizen who is payable to taxes should file income tax returns. To file ITR online, you will need a set of documents and this changes from person to person respective of their income and Tax Slabs. Here is mentioned the list of all essential documents for the filing of [...]

Income Tax Calendar

By | 2018-08-08T07:49:52+00:00 June 8th, 2016|Categories: Income tax basics|Tags: , |

Income Tax Calendar Date Deadline for January 7 Submission of Tax exempted/collected for December, 2015, all sum deducted/collected by an office of the government should be paid to the credit of the Union Government on the same day where tax is paid without the production of an Income-tax Challan. Accounting of TDS for  October 2015 to [...]

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