The finally wait is over. New income tax return form ITR-3, ITR-4, ITR-5, ITR-6 and ITR-7 for the AY 2015-16 has been notified by the income tax department. Income tax department has already notified the ITR-1, ITR-2, ITR-2A, ITR-4S earlier last month E-filing of ITR-3, ITR-4, ITR-5, and ITR-7 will be …
Read More »FAQ- CPC Communication on processing of Income Tax Return and filing of Rectification application.
Article deals with frequently asked question(FAQ) related to CPC Communication, Processing of Income Tax Return by CPC, Filing of Rectification Application, Intimation u/s 143(1), Rectification order U/s. 154, non consideration of TDS, Advance Tax/self-assessment tax, adjustment of refund against old demand etc. Which return will be processed if Original & …
Read More »Gujarat High Court directs CBDT to extend due date for filing of ITR
The CBDT vide Order [F.No.133/24/2014-TPL], dated 20-8-2014 had extended the due date for filing of tax audit report to November 30, 2014. However, the CBDT had not extended the due date for filing of the Income-tax Return (‘ITR’). Consequently, many taxpayers were facing difficulty in filing of ITR without …
Read More »Filing of IT return if you have Salary income received from two different company in the same year
I had worked in 2 companies during the last financial year. Can I show the income received only from the last company and file my income tax return? This is the most common question which we come across during the tax filing season from those people who worked …
Read More »10 points to look at while filing Income tax return of Salaried Employee
There is no rocket science involved in filing your tax returns. However, filing returns that is an annual activity coupled with frequent changes in the law, tax returns and formats may make the job bit complex. That’s it. In this article I wish to write about certain points which you …
Read More »31st July is the due date for filing income tax return
Filing income tax return is fairly a simple topic to write. The topic becomes complicated when we discuss about the due date for filing the return, basic exemption limit, whether a non-resident has to file the return etc. Let me try to make the topic as simple as possible. If …
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Simplified Laws Guide to Taxation and Legal Concern