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.
Read about the allowances and deductions available to a salaried person and documents they need to submit to avail them in this article.
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.
The income tax refund amount may become recoverable upon a regular assessment along with the interest under Section 234D. Read more here.
The income tax department has prescribed guidelines for verification of suspicious transactions and bank transactions. Read more here.
Taxpayers belonging to the below categories are required to mandatorily sign their income tax returns using a DSC. Read here to know more.
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.
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.
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.
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 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...
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.
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.
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.
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 the car lease facility provided by the employer can be claimed depending on the ownership of the car and expenses incurred. Read more here.
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.
With the introduction of ‘e-verify’ facility, taxpayers can verify without logging into the e-filing portal. Read the article to know more.
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.
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.