How to Rectify Errors Made in the Payment of Advance Tax and Self-Assessment Tax

Taxpayers may make an error in income tax payments such as wrong tax category, assessment year and so on. Taxpayers can correct the error in the tax challan through the bank or assessing officer.

Allowances and deductions available to a salaried person & documents they need to submit to ...

Read about the allowances and deductions available to a salaried person and documents they need to submit to avail them in this article.

e-Assessment Scheme 2019

In the Union Budget 2019, the Finance Minister proposed the introduction of a scheme of faceless e-assessment. Read more about e-Assessment scheme 2019.

Section 234D-Interest on Excess Income Tax Refund

The income tax refund amount may become recoverable upon a regular assessment along with the interest under Section 234D. Read more here.

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 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 to know more on Section 44ADA ( Tax on presumptive basis in case of certain eligible busine...

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.