(As Published in NDTV Profit on July 20, 2016) To check tax evasion, the Income Tax Department has stepped up its vigilance against undeclared income. Now, you have to report PAN on all your high-value transactions. Property registrars and financial institutions with which you deal with like your bank, insurer, mutual fund company and credit card company feed the tax department … [Read more...] about How Income Tax Department Is Tracking Your Transactions
Tax Refunds
Donating for a social cause?Here’s an alternative to Section 80Gfor superior tax break
(As Published in Financial Express on July 20, 2016) Donations made to institutions that have got permission to solicit such funds under Section 35AC can get you deduction of 100 per cent of your donations, whereas most charitable donations (barring a few specified funds) under Section 80G can get you a maximum deduction of 50 per cent. Are you looking to donate for a social … [Read more...] about Donating for a social cause?Here’s an alternative to Section 80Gfor superior tax break
How to Choose ITR Form for an Individual Assessee
Here's a quick table to address all your ITR forms related woes. By the way, you need not worry about these if you e-file your return with us. Our system automatically selects the correct ITR Form for you based on a few simple questions. Click here to start e-filing now! Source of Income Applicable ITR Form for FY 2015-16 Return ITR 1 ITR 2 A ITR 2 ITR 3 ITR 4S ITR … [Read more...] about How to Choose ITR Form for an Individual Assessee
How to Slash Your Taxes by Half?
Tax planning is an integral part of financial planning. Ideally, it should be taken care at the start of the financial year. However, most taxpayers tend to procrastinate their investments and wake up between December and March in a rush to save tax. This leads to minimal tax saving benefits. Did you know that an average taxpayer in India pays 30 - 35% more tax in comparison to … [Read more...] about How to Slash Your Taxes by Half?
How to E-Verify Your Income Tax Returns?
You have filed your Income Tax Returns (ITR) and are satisfied that you have accomplished one of the most important tasks related to your finances. But, are you sure you have completed all your formalities pertaining to returns? If you haven’t verified your returns yet, it is as good as not filing returns! As per the directives of the income tax department, the filing of … [Read more...] about How to E-Verify Your Income Tax Returns?
