income tax declaration

Restructure your salary this week, save additional tax with NPS

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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

Purpose of Form 12BB for Income Tax

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All salaried people are required to submit an “income tax declaration” form to their employer at the beginning of the financial year. It is a provisional statement of proposed investments and expenses that are available as a deduction under the Income Tax Act. TDS is deducted from monthly salary after considering these proposed investments and expenses. At the end of the year, … [Read more...] about Purpose of Form 12BB for Income Tax

How to Choose ITR Form for an Individual Assessee

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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