Documents to file Income Tax return
Following documents/information should be kept ready when you are looking out for filing your tax returns for the financial year. If you are Salaried then following documents/information : PAN Form 16...
Alert! While exchanging Rs 500 and Rs 1000 notes
Careful, you might get stuck in money laundering issue if you planning to exchange Rs 500/- and Rs 1000/- intelligently. RBI has kept his eyes open and are tracking...
New rule for cash deposit above 50,000
Amendment in Rule 114B for compulsory quoting of pan in case of cash deposit exceeding 50,000 in a single day or aggregating to more then lakh during the...
Income tax notices to Non-filers
Income tax department has started sending notices to non-filers for the assessment year 2013-14 & onwards & are also using the said information to verify under-reporting of income 1....
Online filing of Form 15G and 15H
Given Below is the Procedure to e-File Statement of Form No. 15G/15H with Income Tax Department by Deductor Firstly deductor has to get himself registered with Income tax department....
Corporate tax rate
Effective Tax Rates for 3 Financial Year is listed below:
FM withdraws tax on EPF
In view of the representations received, the Government would like to do a comprehensive review of this proposal and therefore I withdraw the proposal in paragraph 138 and 139...
Seal and/or Stamp is not required on PAN application of Non Individuals
In case of PAN applications from non-individuals, Seal and/or Stamp is not required on PAN application Form 49A or 49AA or Form for Change or Correction. Clarification issued by...
IT Department keep eyes on your Transactions
Care should be taken while dealing in following transactions as the Income tax department tracks below transactions specifically: Cash deposits or cash withdrawals (including through bearer’s cheque) aggregating to...
Analysed and Simplified PAN requirement wef 01.01.2016
Every person shall quote his permanent account number in all documents pertaining to the transactions specified in the Table below, namely:— Without any monetary limit – Sale or purchase...