Tax Refunds

TaxSpanner Launches India’s First Professional Course for Income Tax

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TaxSpanner, India’s largest and most trusted website for e-filing of income tax returns today launched India’s first professional income tax course. Ankur Sharma, CEO, TaxSpanner.com says“Withalmost 4 crore income tax returns filed last year, and the number growing by 5-10% year on year, there is clearly a significant need for trained tax professionals in India. The government … [Read more...] about TaxSpanner Launches India’s First Professional Course for Income Tax

Earning More than 10 Lakhs? E-filing is compulsory

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Out of the 4 crore income tax returns (ITRs) filed during the financial year 2011-12, 1.64 crore were filed online. Majority of these were voluntary e-filers. This acceptance of the facility has made the government confident to make it mandatory for people with more than Rs. 10 lakh of total income (includes income from salary, professional, rental, capital gain on … [Read more...] about Earning More than 10 Lakhs? E-filing is compulsory

E-filing mandatory for individuals holding accounts or assets abroad

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Most individuals who have travelled outside India for jobs, open a bank account in the visited country. In most cases, the account is not closed. Then, there are some individuals who own a residential house property outside India. They may not go there or have any taxable income. Yet, all individuals falling in any of the above categories need to file their income tax return … [Read more...] about E-filing mandatory for individuals holding accounts or assets abroad

Key Changes in ITR1 and ITR2 forms for A.Y. 2012-13

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With efiling facility becoming a success, the government of India has introduced some positive changes this year. A major change is that online filing of ITR has been made mandatory for people with more than Rs. 10 lakh of total income and/or those who hold a bank account or any asset abroad. For the Assessment Year (A.Y.) 2012-13, the income tax return (ITR) forms for salaried … [Read more...] about Key Changes in ITR1 and ITR2 forms for A.Y. 2012-13