Category: Taxation

Which Income Tax Return (ITR) Form should be used for A.Y.2017-2018?

New and Revised ITR Forms-FY-2016-17, AY2017-2018-Rev

Which Income Tax Return (ITR) Form should be used for A.Y.2017-2018? Last month, Income Tax of India has made some changes into Income Tax Return (ITR) Forms for A.Y. 2017-2018 (Financial year 2016-2017). Some of the forms are made simple now. Since the ITR deadline is 31-Jul, many of you are yet to file income tax returns. Which ITR Forms to be used for last financial year and assessment year 2017-2018? Who need to file income tax Returns in FY2016-2017? […]

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Gift Tax Rules in 2017-2018 – Can we save or avoid Gift Tax?

Gift Tax Rules 2017-2018 – Can we save and avoid Gift Tax

Gift Tax Rules 2017-2018 – Can we save and avoid Gift Tax? Gifts are a symbol of love and affection. Parents give gift to Son or Daughter. Parent in-laws give gifts to daughter in-law or son in-laws during marriage. Many of us break their head whether gift money is taxable in India or not. However one should know what gifts are taxable and which gifts are non-taxable. Understanding Gift Tax Rules in 2017 would help you save gift tax and […]

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How to access Form 26AS – Tax Credit Statement?

How to access Form 26AS - Tax Credit Statement-min

How to access Form 26AS – Tax Credit Statement? Form 26AS is an annual statement of a permanent account number (PAN) which has all the information about TDS, TCS, refunds etc. It states the amount of tax received by the government through various sources like business income, salary, bank FD’s etc. It is dispensed under rule 31AB of the income tax department. What ist he importance of Form 26AS? How to access Form 26AS – Tax Credit statement? Can we […]

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How to file Income Tax Returns (ITR) of previous years in India?

How to file Income Tax Returns (ITR) of previous years in India

How to file Income Tax Returns (ITR) of previous years in India? Salaried people, business men, partnership firms and companies need to file income tax returns on the income / profits they earn. We need to file income tax returns every year by 31st July pertaining to previous financial year. However, some time we miss to file income tax returns in a year. What should one do if they miss to file ITR? What are the penalties, income tax department […]

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8 Ways Salaried Individuals Can Save Income Tax in India

ways to save income tax by salaried individuals-min

Ways Salaried Individuals Can Save Income Tax in India Irrespective of the fact that whether it is your first job or you are an experienced professional, a certain portion of your salary may be deducted in the form of income tax. Moreover, the tax is levied not only on your basic salary, but other allowances that prominently reflect on your salary slip. What are the various ways salaried individuals can save income Tax in India? What are the various precautions […]

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Top 14 Best Tax Saving Investment Options in India for 2017-2018

Top and Best Tax Saving Invesment Options for 2017

Top 14 Best Tax Saving Investment Options in India for 2017 We are ending 2016 now and  tax payers are busy looking at best tax saving investment options to save income tax in 2017 under section 80C. If you can plan well, you can save income tax and also ensure you get higher returns. Which are the various best tax saving investment options available in 2017 in India to save tax u/s 80C? What are the tax saving plans available […]

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