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Search results for: Income Tax Act

ITR Filing Highest Number

CBDT: No Decrease in Income Tax Return Filing, Claims 18% Growth

The CBDT (Central Board of Direct Taxes) denied the reports of the media which said that in the FY 2018-19 the number of ITR (Income Tax Returns) filers has been reduced to which the CBDT said that the FY 2018-19 must not be compared with the FY 2017-18. In a statement, the CBDT said: “This […]

Tax Applicability Sale on Property by NRIs

IT Dept Clarifies Tax Applicability on The Sale of Property In India By NRIs

Government has introduced many tax rules for the NRIs (Non-Resident Indians) who wants to sell their property in the country. But the tax is applied as per the status of the residence and the ownership of the property. As per the Income Tax Department rules, tax is not levied on the heritage property in India […]

GSTN & IT Dept Data Share

Income Tax Dept To Work With GSTN Over System Betterment

The CBDT (Central Board of Direct Taxes) will make an agreement with the GSTN (Goods and Services Tax Network) about the formal data exchange mechanism so that the Income Tax department and GST authorities can automatically share the information of the taxpayer between each other. As per the CBDT order that has been issued on […]

due date house tax

Due Date for House Tax May or May Not Get Extended with 5% Discount

Due to Lok Sabha elections and multiple holidays falling in line, citizens are in demand to extend the due date of depositing the property tax further by one month from now applicable 30th April 2019. The house tax department has offered a 5 per cent discount on the house tax if paid by 30th April, […]

ITR 1 Interest Income

ITR 1 AY 2019-20: Taxpayers To Provide Complete Interest Income Break-up/Proof

The latest financial year has introduced a new attestation to be clubbed with the ITR -1 form. Now the taxpayers will have to provide a full break-up of the interest income and income from any other sources received during the year while filing the basic income tax return (ITR) form ITR 1 for FY 2018-19.

Income Tax Act

New IT Return Forms Demand Extensive Tax Details From NRIs

Expats, the people living outside their native country, have been benefited by ‘double taxation avoidance agreements’ and who claims for tax relief under this agreement are now supposed to furnish more information and would have to provide extensive disclosures like the tax identification number of their native country,

Common Mistakes Doing in Tax Saving Investment

Watch Out Most-Important Mistakes in Tax Saving Investment

Making investments to save the tax has been an all-time practice by the people. But are these investors really aware of the repercussions which they could face if done without caution? Here, we endeavour to protect the investors by making the basic five mistakes and making their investment painful instead of profiting them. Investors should […]

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