Tag: IT

Tax Planning Guide for Salaried Personals.

| February 14, 2014

Waiting till the Eleventh hour for tax planning would lead you to the of mere “Tax Saving”, thus resulting in sub-optimal tax reduction. Hence, it becomes imperative to plan this activity well which would result in tax planning and investment planning complementing each other and create wealth in the long – term. For Original Orders […]

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Tax Deductors Who Default In Depositing TDS by Due Date Shall be Liable for Prosecution: CBDT

| August 6, 2013

Tax Deductors Who Default In Depositing TDS by Due Date Shall be Liable for Prosecution: CBDT It has come to the notice of Income Tax Department that many times the tax deductors, after deducting TDS from specified payments, are deliberately not depositing the taxes so deducted in Government account and continue to deploy the funds […]

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Do not forget to file income tax returns

| August 5, 2013

With electronically filed income tax returns increasing each year and the last day rush slowing the Income Tax (I-T) department website, the last date for filing returns is being extended over the past couple of years. For financial year 2012-13, the deadline was July 31 but it was extended to August 5. While this extension is a […]

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40% increase in e-filing of Income Tax Returns.

| July 31, 2013

Press Information Bureau Government of India Ministry of Finance 30-July-2013 20:05 IST Overwhelming Response for e-filing from Every Corner of the Country; More than 82 Lakh Returns E-Filed till 29th July, 2013 which is More than 40% of the Returns e-filed during the Same Period Last Year; Record Peak of more than 85,000 Returns Per Hour Achieved […]

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Salaried Employees with Total Income up to Rs.5 lakhs too have to file ITR (Income Tax Return) this year viz., Assessment year 2013-14.

| July 23, 2013

The CBDT has, vide notification dated 1-05-2013, made E-filing of Return compulsory for Assessment Year 2013-14 for persons having total assessable income exceeding Five lakh rupees. The CBDT vide its earlier notifications had exempted salaried employees having total income up to Rs. 5 lakhs including income from other sources up to Rs. 10,000/- from the requirement of filing return of income for assessment year 2011-12 and 2012-13 respectively. […]

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| September 21, 2012 | Reply

PRESS INFORMATION BUREAU GOVERNMENT OF INDIA * * * * * FM APPROVES RAJIV GANDHI EQUITY SAVINGS SCHEME FOR RETAIL INVESTORS New Delhi, Bharapada 30, 1934 September 21, 2012 The Union Finance Minister, Shri. P. Chidambaram approved a new tax saving scheme called “Rajiv Gandhi Equity Saving Scheme“(RGESS), exclusively for the first time retail investors in […]

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Due Date of E-Filing of Income Tax Returns for Assessment Year 2012-13 Extended up to 31st August, 2012

| August 1, 2012 | Reply

On consideration of the reports of disturbance of general life caused due to failure of power and further in consideration of the fact that the e-filing of returns for a specified category of individuals and HUF has been made mandatory, the Central Board of Direct Taxes (CBDT), in exercise of powers conferred under section 119 […]

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Income tax return: Avoid these common errors while filing your returns

| July 24, 2012 | Reply

Your date, a crucial one, with the tax authorities is just a week away. You have to file your taxes and file the returns before July 31. Sure, you can outsource the task to your tax consultant. However, if you prefer doing it yourself, go ahead. Take it from us, the process is not as complicated as […]

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Filing tax returns: If you miss deadline

| July 22, 2012 | Reply

The deadline for filing income tax returns is July 31 for the last financial year. Despite this deadline being an extremely familiar and well known, many people still miss it for various reasons. Reasons may be genuine or simple procrastination. In case you miss the deadline, there are ways to retrieve the situation by filing […]

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New rules of filing tax returns: What they mean for you

| July 9, 2012 | Reply

A week may be a long time in politics, but when it comes to filing tax returns, some people may find that even four weeks aren’t enough. As the deadline for filingtax returns approaches, thousands of Indians who have worked abroad will be scrambling to gather the information required to be filled in the new tax […]

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