The Income-tax Department has notified the ITR-5 efiling utility for e-filing the Income tax return in respect of Partnership firms. This utility can be used by the following assessees :- – a person being a Firm (Including LLP), – AOP , – BOI, – Artificial Judicial Person referred to in Section 2(31) of Income-tax Act,1961 […]
ITR-5 e-filing utility notified Read More »
Income-tax return filing is a Statutory obligation to be carried out by the Income-tax assessees every year. There are many myths/misconceptions with regard to Income-tax return filing. This article lists top 10 myths & facts about the Income-tax return filing. [table id=2 /] Click here to send your queries / enquiry (or) Comment/Reply below the
MYTHS & FACTS ABOUT INCOME TAX RETURN FILING Read More »
The Income-tax department has issued a new notification which requires the following Audit Reports to be filed electronically from A.Y.2013-14 (F.Y.2012-13) onwards. These audit reports needs to be filed electronically with the Digital Signature of the Chartered Accountant who has signed the report. As per this notification 42/2013 dtd 11/06/2013, the following reports are required
E-filing of Audit Reports now made mandatory from A.Y.2013-14. Read More »
The Income tax department has released the e filing utility ITR-4 for filing returns of Individual having income from Proprietorship Business. Click the link below to download the excel efiling utility. [wpdm_file id=29]
ITR-4 e-filing utility notified Read More »
As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property exceeds or is equal to Rs 50,00,000 (Rupees Fifty Lakhs). Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax @ 1% should
All about TDS on Property Transactions Read More »
The Central Board of Direct Taxes has notified the Cost Inflation Index for the year 2013-14. Cost Inflation Index for 2013-14 is 939 The relevant Notification is reproduced below :-GOVERNMENT OF INDIA MINISTRYOF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NOTIFICATION No. 40/20136/8/13 INCOME-TAX New Delhi, the 6th day of June, 2013 S.O.
Cost Inflation Index for 2013-14 Notified. Read More »
BUDGET 2013 – IMPORTANT TAX PROPOSALS (Financial Year 2013 -14) DIRECT TAX PROPOSALS v Tax Slab Rates: ü Individuals: Tax Rates for the Individuals will remain the same as per last Financial Year 2012-13, which is as follows :- Tax Rates for all the Individual Assessee below 60 years of age
Budget 2013 – Tax Proposals Read More »
The Income-tax Department has once again extended the last date for submission of ITR-V forms in respect of return of income filed online for the Assessment years 2010-11,2011-12 & 2012-13. The relevant details can be found in the notification reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2013/01/itr-v-extension-10-01-2013.pdf”]
Last date for Submission of ITR -V extended again for A.Y.2010-11,2011-12 & 2012-13 Read More »
The following are the Various Statutory Obligations for the month of December 2012. Payment of Advance Tax The last date for Payment of Advance Tax (3rd Instalment in case of Companies & 2nd Instalment in case of Non Companies) for the A.Y.2013-14 is 15th December 2012. Click here to make Advance Tax Payment online. Click here to download Challan for
Statutory Obligations for the month of December 2012 Read More »
RAJIV GANDHI EQUITY SAVINGS SCHEME 2012 The Hon’ble Finance during the presentation of his budget 2012 proposals, had indicated that a new scheme of tax saving investment in Equity shares will be notified for new investors to enable them to claim deduction from their total income in respect of investment in equity shares made by
All about Rajiv Gandhi Equity Savings Scheme 2012 Read More »
Have you filed your Income-tax return online for the A.Y.2010-11 (or) A.Y.2011-12 and either failed to send the signed ITR-V or not received the acknowledgment for sending the ITR-V , from the Income-tax Department ? Here is another last chance for you to regularise your return of income filed. The CBDT vide Notification No 1/2012
Extension of time limit for filing ITR-V forms for A.Y.2010-11 & A.Y.2011-12 Read More »
The Income-tax Department has released a new circular No 8/2012 [F No 275/192/2012-IT(B)] dtd 05/10/2012 containing the various details and particulars & procedures with regard to deduction of tax at source in respect of payments by way of salaries during the year 2012-13. The circular can be downloaded from the link below :- [wpdm_file id=23]
New Income-tax Circular on TDS on Salaries for the year 2012-13 Read More »
The Central Board of Direct Taxes (CBDT) vide its order under Section 119 of the Income-tax Act, 1961 dtd 31st July has extended the “due date” for filing returns of Income for the A.Y.2012-13 to 31st August 2012 in respect of assessees who are liable to file such returns by 31st July 2012 as per
The Income-tax Department has launched an online utility to check the status of Income-tax refunds. By providing the basic details such as the PAN & Assessment year for which the refund is due, the status of the refund can be obtained from this link. Click here to know your refund status.
Check Refund Status online Read More »
The Income-tax Department has enabled the Income-tax efiling in ITR 5 in respect of Firms, AOP’s & BOIs. The excel utility for filing e return in ITR 5 has also been published. Click here to download the excel utility. Source :- www.incometaxindiaefiling.gov.in
ITR 5 – E filing enabled ! Read More »
