Walmart will deduct $1.5-2 billion as taxes before issuing cheques to SoftBank, eBay, Naspers and Flipkart’s co-founder Sachin Bansal.
There is no separate statute in the law book detailing tax norms for cryptocurrencies, but the law is clear on taxing income irrespective of the form in which it is received
The I-T department has notified several new tax return forms which are applicable for the financial year 2017-18.
If you wait till the last minute to file your returns, you may commit mistakes in a hurry and will have to file a revised return. There are several amendments for the AY19. To be on the right side of the norms, take a look at some important changes to ensure an error-free filing well within the July 31 deadline
As tax filing deadline inches closer, you may be rushing to collate all your documents to file your returns. But sometimes despite being very careful, we can commit mistakes that can land us in trouble with the tax department. By keeping these points in mind, you can ensure a hassle-free tax filing for yourself
The new ITR form 1 (Sahaj) requires the individual assessees to provide detailed calculation in case of salary & house property income.
After filing your income tax returns, you need to get your ITR-V verified. Earlier, this was a days-long process but taxpayers can now e-verify it in minutes
The July 31 deadline to file income tax returns is fast approaching. To ease down the process and reduce the complexity in filing returns, the tax department has introduced several new features. Here are five reasons why you should not hesitate to file ITR on your own
Don’t forget to verify ITR after E-Filing through ITR-V. ITR-V is the Income Tax Return – ‘Verification’ Form.
A separate chapter has been dedicated to widening of the tax base, with region-wise target for new tax filers.
Filing your income tax return and paying the tax you are due to pay are two different responsibilities and both have to be discharged appropriately
Selection of the right form is vital as choosing the wrong form will make your return invalid.
Here is how you should choose the right ITR form to file your income tax returns.
The process can be quite cumbersome in the absence of efficient financial planning, and any negligence on the tax payer's part can lead to undue payment of tax
The deadline for filing your income tax returns for FY18 is July 31, and it is better if you do not put it off for the last minute if you want to avoid making mistakes
If you wait till the last minute to file your returns, you may commit mistakes in a hurry and will have to file a revised return
You should not be hesitant in filing your income tax returns yourself. There are several websites which can also help you file your returns effortlessly following certain steps.
This year salaried taxpayers using ITR Form-1 are required to provide a break-up of their salary
You have to disclose the details of immovable properties i.e. land and building owned by you in schedule AL
On one Electronic Verification Code, only one online income tax return can be verified
The most important change in ITR 1 is that it can only be used by ‘Residents’ having income from salaries, one house property and income from other sources.
The countdown to the July 31 deadline for filing your income tax returns has begun
If you don’t file ITR, the belated return could lead to extra interest at 1% per month for the remaining tax payable by you
The deduction for HRA is generally availed by the employee through the payroll by providing requisite supporting documents and also, meeting the necessary conditions.
One should always plan their tax related investments in advance and invest through SIP route in ELSS to get the benefit of rupee cost averaging.