Tax Compliance

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

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

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