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 »
The Income-tax department has provided an online utility for calculation of Tax Liability in respect of the following types of assessees :- 1) Individuals 2) Hindu Undivided Family 3) BOI (Body of Individuals) 4) AOP (Association of Persons) 5) Firms 6) Domestic Companies 7) Foreign Companies and 8 ) Co-operative Societies Click here to use
Income-tax Calculator for last 12 Assessment years Read More »
DIRECT TAX PROPOSALS v Changes in Tax Slabs : The existing differentiation of Male and Female assessees has been removed. The tax rates for all Individual assessees below 60 years of age for the year 2012-13 is as follows :- Income Level Rate of Tax Upto Rs. Rs. 2,00,000/- Nil Rs. 2,00,001 to Rs. 5,00,000/-
BUDGET 2012 – IMPORTANT TAX PROPOSALS Read More »
The Income-tax department, vide its NOTIFICATION NO. 9/2012 [F. NO.225/283/2011-ITA(II)], DATED 17-2-2012 has exempted the persons (salaried assessees) with income less than 5 lakhs from furnishing their return of Income. For whom this benefit is available ? 1) The assessee should be an Individual; and 2) The Total Income does not exceed Rs. 500000/- .
Relief for Salaried assessees having income less than 5 Lakhs !!! Read More »
