Taxinfo.inApr 93 min5 changes that come into effect from 1st April 2020 in Income TaxThe current financial year 2019-20 is closing on 31st March as usual and the new financial year 2020-21 is starting from today (April 1). In view of the lock...
Taxinfo.inJul 5, 20192 minBudget 2019Income Tax Additional ₹1.5 lakh income tax deduction on home loan interest paid for buyers of affordable homes till March 2020. Additional income tax deduct...
Taxinfo.inMay 1, 20194 minRespond to a Demand Notice Raised Under Section 156What is Demand Notice? If any demand for tax, interest, penalty, fine or any other sum is raised by the Assessing Officer as per the provision of Income Tax ...
Taxinfo.inOct 3, 20188 minSave Yourself from Clubbing Provisions for the Gifts Made in CashMeaning of Clubbing In general, clubbing means including the income of any other person into the Assessee’s total income for the purpose of taxation. Certain...
Taxinfo.inAug 16, 20189 minMinimum Alternative Tax (MAT)MAT stands for Minimum Alternative Tax. MAT was introduced by the Finance Act, 1987 with effect from Assessment Year 1998-99. Later on, it was withdrawn by t...
Taxinfo.inAug 14, 20186 minOnline Functionality to File an Appeal Against Demand Order to Appellate AuthorityAppeal under GST GST tax laws primarily impose two types of obligation – tax-related and procedural related, which are required to be compiled by the tax-pay...
Taxinfo.inJul 31, 20182 minHow Salaried and Non Salaried Person Can Save TaxThere are number of deduction available for salaried person to save income tax. Although you have to do a proper tax planning from the beginning of the finan...
Taxinfo.inJun 25, 20181 minApplicability of MAT on foreign companies having no PE in IndiaGovernment of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 24th September, 2015 Sub: Applicability ...
Taxinfo.inJun 19, 20183 minBenefits of Filling Income Tax Return (ITR) on timeUnder Income Tax Act, various person are required to file their income tax return within prescribed time limit i.e. due date. If the assessee failed to file...
Taxinfo.inMay 29, 20181 minHow to pay income tax onlineStep 2 – Select Challan No./ITNS 280 Step 3 – Select the type of assessee for which income tax payment being made. If you are making payment for a company th...
Taxinfo.inMay 29, 20181 minHow to check the TDS credit in your accountStep 1 – Go to https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html Step 2 – Enter the login details. If you haven’t registered you PAN num...
Taxinfo.inMay 27, 20182 minFactors affecting Investment under section 80COne of the best way to save income tax is to utilize the deduction available under section 80C. The current maximum threshold limit is Rs. 1,50,000 for Indiv...
Taxinfo.inMay 11, 20183 minLife Insurance Premium – Tax Benefits on Payment and MaturityLife insurance is the mostly used tool for getting deduction under section 80C. Tax benefits, minimal risk and insurance benefits make it an all time favouri...
Taxinfo.inApr 26, 20182 minHow to reset the password of Income Tax E-filling account.There are many ways in which you can reset the password of your online income tax e-return online account portal. Step 1 -> Go to https://incometaxindiaefili...
Taxinfo.inApr 15, 20182 min6 Benefits in Income Tax for Senior CitizensA number of benefits are given in the Income Tax Act of India to the senior citizens apart from general deductions and benefits. Senior citizen is a resident...
Taxinfo.inFeb 26, 20181 minAssessment as a Firm – Section 184A partnership firm will be assessed as a firm in Income Tax Act if the following conditions are satisfied Partnership is evidenced by an instrument Normall...
Taxinfo.inFeb 25, 20182 min8 mistakes people do while filing Income Tax Return (ITR)Now a days many people file their own Income Tax Return (ITR) in lieu of taking service of CA or tax consultant. But a number of persons make some very commo...
