INCOME-TAX

Income Tax Department prescribes guidelines for Verification of Suspicious Bank Accounts

The income tax department has prescribed guidelines for verification of suspicious transactions and bank transactions. Read more here.

Guidelines for using e-filing DSC management utility

Taxpayers belonging to the below categories are required to mandatorily sign their income tax returns using a DSC. Read here to know more.

Sign-on bonus refunded to Employer cannot be Reduced from taxable salary: Case Law

When an employee receives a sign-on bonus and has to return it due to change of employer, should the bonus be taxable to the employee? Read this case law.

How to Add Previous Years’ Losses to your Income Tax Return on ClearTax

You can add previous years’ losses to your income tax return. The procedure to claim your previous year losses on www.cleartax.in is here.

Secure E- filing Accounts through e–Filing Vault

Your e-filing account will hold sensitive personal & income tax-related information. You can secure this account from frauds by activating an e-filing vault.

Changed jobs? How to deal with multiple Form 16s

People tend to change jobs for a better pay scale or to acquire new skills, and when you do this within an FY, you will have more than one Form 16. Read more.

Section 44ADA – Presumptive Tax Scheme for Professionals

Section 44ADA offers a scheme of presumptive taxation of profits and gains arising from professions. Read here to know more about section 44ADA.

Is an Interest-free Loan from Employer Taxable?

When an employee takes an interest-free loan from the employer, the interest-free component is taxable in the hands of the employee. Read more.

What to do if the income tax refund is delayed?

If you think your income tax refund request has not been processed yet, check the status of your claim. There can be several reasons for the same.

How to Respond to Notice Under Section 143(2)?

An assessing officer may issue a notice under Section 143(2) if there is a discrepancy in the information in your returns. Read here to know more.

NPS subscribers can self-certify their FATCA declaration online

Every NPS account holder who has opened the account on or after 1 July 2014 must self-certify to comply with FATCA. Read here to know more.

Tax benefits on a car provided by the employer

Tax benefits on the car lease facility provided by the employer can be claimed depending on the ownership of the car and expenses incurred. Read more here.

Partner’s Remuneration and How it is Taxed

A Partner's remuneration is taxable for a partner under Business Income. Read to know about the limit of remuneration allowed as a deduction for the firm.

E-verify your ITR without login to e-filing account

With the introduction of ‘e-verify’ facility, taxpayers can verify without logging into the e-filing portal. Read the article to know more.

Section 194N – TDS on cash withdrawal in excess of Rs 1 crore

The Union Budget 2019 has introduced Section 194N for deduction of tax at source (TDS) on cash withdrawals exceeding Rs 1 crore. Read here to know more.

TDS on Salary under Section 192

Section 192 deals with tax deducted at source (TDS) on salary. Your employer will deduct TDS from the salary payable to you. Read here to know more.

How to link PAN card with bank account number

Before proceeding to link or pre-validate your bank account with your PAN on the e-filing website, it is necessary to update your PAN with your bank.

What Is Gross Salary? Know How to Calculate Gross Salary or CTC

The employees’ CTC is the gross amount, while the amount of salary one gets to take home is the net salary. Read here to know more about gross salary.

Correcting the Invalid Surname Error on e-Filing Portal

Confused about how to enter the first name and surname while registering on the income tax e-filing portal? Use the convention as per your PAN card.

How is Masked Aadhaar different from Aadhaar?

UIDAI has come up with another version of Aadhaar card i.e Masked Aadhaar that can be downloaded from the website. Read here to know more.

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