Latest & Best 3 Tax mobile Apps to File Returns Online In India Year End is over and it’s the time to file your Income Tax Return. This year there are plenty of changes which has been made by Income Tax Department like a) AADHAAR Number mandatory for filing the return b) Cash Deposit of […]
Income Tax Rates
Are arrears of salary taxable? – Income Tax FAQ
What is considered as salary income? section 17 of the Income-tax Act defines the term ‘salary’. However, not going into the technical definition, generally whatever is received by an employee from an employer in cash, kind or as a facility [perquisite] is considered as salary. What are allowances? Are all allowances taxable? Allowances are fixed […]
Ceiling on IT for salaried persons should be raised to Rs 7.5 lakh: AIBEA to Jaitley
Ceiling on IT for salaried persons should be raised to Rs 7.5 lakh: AIBEA to Jaitley The ceiling on Income Tax for salaried persons should be raised upwards to Rs 7.5 lakh with exclusion of fringe benefits like housing, medical and educational facilities. The IT rate above Rs 7.5 lakh and upto Rs 12 lakh […]
Release of E-filing of Income Tax Returns (ITR) and other forms
Release of E-filing of Income Tax Returns (ITR) and other forms In pursuance of the Notification of the Income Tax Returns (ITR) for AY 2016-17 on March 31st, 2016, Central Board of Direct Taxes (CBDT)announces the release of electronic filing of ITRs 1 and 4S on its website https://incometaxindiaefiling.gov.in. Other ITRs will be e-enabled shortly. […]
Income-Tax Deduction from Salaries during the Financial Year 2015-16
Income-Tax Deduction from Salaries during the Financial Year 2015-16 CIRCULAR NO : 20/2015 F.No. 275/192/2015-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** North Block, New Delhi Dated the 2nd December, 2015 Reference is invited to Circular No.17/2014 dated 10.12.2014 whereby the rates of deduction of income-tax from the […]