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Cash Deposits Above Rs. 2.5 Lakh To Be Taxed, Penalty On Income Mismatch

Taking the nation by surprise, Prime Minister Narendra Modi on Tuesday announced that the bank notes in the denominations of Rs 500 and Rs 1,000 will not be legal tender from midnight of November 8, 2016. The old currency notes can be exchanged for value at the Reserve Bank of India or at any bank branch or at any Head …

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Who Can Use ITR 2A, Who Cannot Use ITR 2A? All About Income Tax Return 2A Form

Finance Ministry of India has introduced a set of new Income Tax Return forms including ITR 2A for taxpayers to file their returns for current assessment year 2015-16.¬†Previously, salaried people were supposed to fill the ITR-2 form which is considered as complicated. In order to ease that complexity of filling the form, this new ITR-2A form has been released. The …

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Budget 2015: How New Service Tax @14% Will Impact Your Pocket

While Union Budget 2015 is said to be a bold budget, it came with mixed¬†announcements, some of which are positive for the pockets while some are not. Finance Minister Arun Jaitley also announced increase in Service Tax from 12.36% to 14%. Increasing expenditure of consumers, the new Service Tax @14% on services has taken effect from June 1, 2015. Though …

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How To Do Tax Planning In 2013?

Tax planning implies the spelling out of financial goals, where by the financial goals are aligned according to the tax liabilities and taxation is managed in a legal and systematic manner. Before planning tax liability it is important that the taxpayer studies a few basics. Every taxpayer shall go through Section 80C for getting acquainted with tax planning with schemes …

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How To Download ITR-V Acknowledgement From The Income Tax Website?

Are you planning to file your income tax return online this time? If yes, then this article will be a great help for you. If you are filing your ITR online without digital signature then you will have to send the acknowledge receipt i.e ITR-V to the income tax department in Bangalore. ITR-V is an acknowledgement receipt generate by the …

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