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TAXATION BLOG INDIA

Income tax return filing due date 30th Sep, 2015

Income Tax return filing due date extention The Central Board of Direct Taxes (CBDT) has cautioned the taxpayers and practitioners not to wait till 15 October in order to file their audit report and return of Income for the Assessment Year 2015-16, but to get it done by 30 September. Issuing an order today, the…

Income Tax returns Filling Due Date extend to August 31, 2015 A.Y. 2015-16

The government on Wednesday extended the last date for filing of income tax returns by 31st days to August 31, 2015. The due date,which was July 31,has been extended in wake of “unprecedented surge” in number of I-T returns being filed electronically. “As per the Central Board of Direct Taxes (CBDT),there has been an unprecedented surge…

Income Tax returns Filling Due Date extend to August 5, 2014

The government on Wednesday extended the last date for filing of income tax returns by five days to August 5. The due date,which was July 31,has been extended in wake of “unprecedented surge” in number of I-T returns being filed electronically. “As a measure of taxpayers convenience,it has been decided to extend the due date…

Income Tax Section 80EE Benefit on Home Loan Interest

Clarification of Section 24 and 80EE-        Where the property has been acquired, constructed, repaired, renewed or reconstruction with borrowed capital, the amount of any interest payable on such capital is deductible under section 24(b), subject to the prescribed conditions.      As per Sub Section 4 section 80EE, assessee can avail deduction in respect of…

Deduction in respect of medical treatment section 80DDB

Deduction in respect of medical treatment section 80DDB Section 80DDB This deduction is in respect of medical treatment of a specified disease or ailment as prescribed by the government. 80DDB deductions are available for expenditure incurred in respect of assessee himself or his dependent spouse, children, parents, brothers/ sisters. Assesee shall have to submit certificate…

Return of net wealth tax form BB

CBDT has issue notification No. 32/2014 dated 23.06.2014 – new Wealth Tax Return Form BB wef A.Y. 2014-15 instead of old form BA. CBDT has also given that this form can be filed online with or without digital signature. For certain class of Assessee i.e. Individual/HUF not liable to tax audit e-filing is optional but for other…

Income Tax Start ITR e filing

Income Tax Start ITR e filing

File your Income Tax Return (ITR) early avoid interest and get your refund fast. contact for E filing of tax return Now file all Income Tax Returns online easily! You need not require to take print out of forms, fill them up and submit them at income tax counters anymore. Just sit comfortably at your…

Tax deduction on purchase of immovable property

Tax deduction on purchase of immovable property

A recent amendment relating to tax deduction at source (TDS) on transfer of immovable property has become effective from 1 June. Since this requirement applies to all transactions of transfer of immovable property of Rs.50 lakh or more, it would require compliance by and affect a large number of purchasers of such property, including individuals not…

TDS payment on property

  TDS payment on property Process to obtain TDS Certificate and TDS Payment Firstly one has to go to the following link: https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp • Once this link is opened click on Form 26QB (Payment of TDS on sale of property). • Select (0021) in case of non corporate payer and 0020 in case of corporate payer. • On filling in the…

Income Tax Refund Status

Check your Income Tax Refund Status The Income Tax Department offers an online facility for tracking your Income Tax Refund and its status. Taxpayers can view status of refund 10 days after their refund has been sent. You will have to type your PAN number and select the Assessment Year.   Do you know how…

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