According to the income tax website, till 31 March 2018, there were about 379 million Permanent Account Numbers (PAN) allotted to various entities. Out of these, 369 million or 97.46% PANs were allotted to individuals. But irrespective of the fact…
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Irrespective of whether your employer has deducted tax at source (TDS) on your salary or you have paid tax on your own, you should file your income tax return (ITR) if you fit certain criteria. Under Section 139(1)(b) of the…
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The taxman acknowledges that to err is human, and gives you a chance to fix it You may well let out a whoop of exhilaration after filing your tax return: it’s a well-merited response, considering the consequences of missing your…
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Irrespective of whether your employer has deducted tax at source (TDS) on your salary or you have paid tax on your own, you should file your income tax return (ITR) if you fit certain criteria. Under Section 139(1)(b) of the…
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PAN card is one of the most essential identity documents, and is provided to Indian citizens who are aged over 18 years and have a valid source of income. PAN cards are issued under the provisions of the Income-Tax Act,…
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Taxmen can’t deny assessee’s legitimate claim in revised return, rules ITAT. Good news for taxpayers. They can now not only file a revised income tax return (ITR) after a notice has been issued by the Income Tax Department, but even…
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The policy-making body of the tax department issued an order, under Section 119 of the Income Tax Act, late night, extending the deadline. The CBDT had last extended the deadline on March 27. The latest order said the deadline for…
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MUMBAI: The rupee’s slide against the dollar could persuade non-resident Indian (NRI) investors to send more money home as foreign portfolio investors exit. Inward remittances are set to rise, especially from the Middle East, the US and Southeast Asian countries…
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They did it in 1998 and again in 2013. Non resident Indians could do it now yet again though the crisis is not full blown as in 2013, with Forex reserves standing at comfortable US $410 billion level constituting 10…
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With June 2018 coming to an end you must be preparing for income tax return (ITR) filing for the assessment year 2018-19. The last date for filing income tax return for FY 2017-18 is July 31. Before filing your ITR,…
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