On Tuesday, the government extended the last date for filing Income Tax Return in this flood-hit state of Kerala. It is to be remembered that extension is done only for Kerala State. “In view of the disruption caused due to severe floods in Kerala, the Central Board of Direct Taxes (CBDT) hereby further extends the…
Continue ReadingOn Thursday, i.e. on yesterday over 20 lakhs returns were filed. There has been a rise of 60% seen compared to last year. The data is expected to rise today,31st August than the previous day. Today, 31st August 2018 is the last day of filing tax returns by salaried individuals and those who have professional…
Continue ReadingTomorrow i.e. 31st August 2018, is the last date of filing ITR. If you still not have filed, better you should file as soon as possible. Till the last assessment year AY 2017-18, there was no penalty for filing ITR returns belated. But now the penalty is applicable for AY 2018-2019. A new section 234F…
Continue ReadingYou need to check your ITR status periodically if you have filed and verified it. This will help the taxpayer to know about the ITR whether it has accepted and process properly or not. The status will be reflected in your account after checking the ITR periodically. However, if some distinctions are found or some…
Continue ReadingThe ITR3 is applicable for individual and HUF who are carrying on a business or profession. The return may include earning from House property, Salary/Pension and Income from other sources. It comes under Section 44ADA read with Section 44AA of the Income Tax Act, 1961. If you are a salaried person with 10 lakh and you…
Continue ReadingOn Thursday, the income tax department extended the deadline for filing income tax return for the assessment year 2018-19. Earlier, the deadline was 31st July, but now taxpayers have time to fill the ITR procedure till 31st August. It is relief to taxpayers who have not yet filed their ITR. Every taxpayer should submit their…
Continue ReadingCapital Gain is simply the profit made from the sale, stocks, mutual funds, property, and bonds. This profit is considered as income and hence charged to tax in the year in which the transfer of asset takes place. Capital asset means any kind of property held by an individual other than stock in trade, excluding…
Continue ReadingA step by step guide needs to get follow to maximize tax return by ITR-2 before the due date. The penalty for late filing is Rs.5,000 making it imperative to meet the 31 July 2018 deadline, this year. Getting a grip on what all you need to file your return and some organized effort will…
Continue ReadingWe’ve got some tips to help you boost and maximize your tax refund and deductions for some expenses that are related to earning your income. Nowadays, in the era of price, it’s challenging to save taxes and that too difficult for a young newly recruited employee. The widest option to save income tax is section 80C of income tax…
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