April & May is the time when your company allows you to restructure your CTC which helps you to optimize your taxes and accordingly declare your investments. Moreover, your company has rolled out the New Pension System (NPS), now employees can save additional tax of up to 1-3% of their basic salaries. If a company puts 10% of the basic salary of an employee in the NPS, that … [Read more...] about Restructure your salary this week, save additional tax with NPS
Efiling
File income tax returns on time or face increasing I-T scrutiny
As the new financial year unfolds it would soon be time for taxpayers to file their returns. If you are one of the nearly 4 crore taxpayers, you must ensure that you file your returns within the stipulated due date. As the new financial year unfolds it would soon be time for taxpayers to file their returns. If you are one of the nearly 4 crore taxpayers, you must ensure that … [Read more...] about File income tax returns on time or face increasing I-T scrutiny
New Income Tax Forms Notified: 5 Changes you Should Know
Now, mentioning Aadhar number is mandatory for filling income tax return. You have to mention the 12-digit Aadhaar number or the 28-digit Aadhaar enrolment number while filing the income tax return. It's an attempt to simplify the tax filing process and reduce the compliance burden on the taxpayer. The Central Board of Direct Taxes (CBDT), the income tax regulator, has notified … [Read more...] about New Income Tax Forms Notified: 5 Changes you Should Know
Now, shed lethargy in filing tax returns, say experts
There are many with income above basic exemption limit who do not file returns even though it is mandatory. However, stiff penalties proposed to levied in Budget 2017 for late filing would ensure that taxpayers file their returns in time. Changes in tax administration brought about in Budget 2017-18 will force taxpayers to be more proactive in filing their tax returns and … [Read more...] about Now, shed lethargy in filing tax returns, say experts
Operation Clean Money: Everybody needs to check e-filing account
You need to respond within 10 days of getting this message from the I-T department. Even if you did not deposit much money in your account, do check your e-filing account. If you had deposited a large stash of cash post-demonetization, chances are that you have already got a message from the income tax department. You need to respond within 10 days of getting the message. But … [Read more...] about Operation Clean Money: Everybody needs to check e-filing account
