Efiling

The idiom “The sooner the better” is also true for tax return filing. However, we Indians being serious procrastinators, don’t actually believe one bit in it. We enjoy completing things at the last moment without realizing the consequences. Most of the tax return filers have all the information required for filing their income tax return in the months of May-June itself. But … [Read more...] about Reasons to e-File your Return Before Due Date

Here are the most common mistakes taxpayers make while filing Income Tax Return (ITR): Not filing returns: Any individual earning above Rs.2.5 lakh per annum is required to file tax returns. Tax returns are required in case you are looking for a loan or applying a visa application. Not matching ITR data with income tax department’s database Not matching ITR data with … [Read more...] about Common Mistakes while filing Income Tax Return

Here are the key changes w.r.t. Income Tax Return (ITR) filing for FY 2016-17: When and Who has to File ITR: Last date for filing of IT return is 31st July 2017. It is mandatory to file if your income is more than Rs. 250000 before claiming any deductions (except for senior or super senior citizen). Don't wait anymore, Start e-Filing Now!   Quoting of Aadhaar … [Read more...] about Key Tax Return Filing Changes for FY 2016-17

If you have capital gains on a house or shares, they can automatically tell you the tax liability. The Income Tax department on May 4 activated an e-filing facility in which you can start filing returns. The department has also simplified the ITR forms to make it easier for individuals to file returns. If you still find filing this a tedious, you can approach online tax filing … [Read more...] about Online platforms make tax filing easy, fill details automatically

Tax experts say in case you have not yet got your Form 16 it is time to remind your employer since a few weeks of the new financial year has already elapsed. Has your employer handed over your Form 16 for income earned and tax deducted during 2016-17 for which you need to file your tax returns this fiscal? If you have it with you, you should quickly prepare to file your tax … [Read more...] about Got your Form 16? File income tax returns early to enjoy benefits