All related articles
Deemed Dividend under Section 2(22)(e)
Besides the concept of dividend as generally understood, there are certain specified payments that qualify as a deemed dividend under income tax.
Income Tax Assessment
Income tax assessment happens subsequent to the filing of income tax return. Read the types of Income tax assessment which an assessee can undergo.
We have 50 Million Reasons to Celebrate
ClearTax just raised $50 million dollars led by Composite Capital. We are India’s first to be funded by Composite Capital.
Bonus stripping is one among the various mechanisms that some investors resort to for minimizing their taxes. Here are the tax implications of bonus stripping
The concept of Dividend Stripping in India
Many investors resort to Dividend Stripping while transacting in shares and mutual funds. There are certain tax implications to it. Read more.
Tax on Inheritance in India
Many are unsure about whether the income tax laws in India levies tax upon inheritance of property. Read on to know about its implications and income tax on inheritance and subsequent sales.
Resolving mismatches between TDS statement and Form 26AS
While filing return of income, it is important to make sure TDS details contained in Form 16 or Form 16A match with Form 26AS.
Things to Know About Income Tax Refund
Refund arises when taxes paid are higher than your actual tax liability (including interest). It could be in the form of advance tax, self-assessment tax, tax deducted at source, foreign tax credit etc. Read on to understand more about an income tax refund.
Clubbing of Income under Section 64
Many a times income of another would be included as part of your income otherwise known as clubbing of income. Read on to understand when clubbing of income gets triggered.
How to open an NPS Tier 2 account
Everyone registering under NPS can voluntarily opt for having an NPS Tier II account. Let us understand Tier II account in detail here.
Who must Sign an Income Tax Return
It is important that an income tax return is signed by persons who have been authorized to sign it. Read more to know who these authorized persons are
Agricultural Income – Overview & Taxability
Though agricultural income is exempt from income tax, the act has laid down a method to indirectly tax such income. This method or concept is called as the partial integration of agricultural income with non-agricultural income. Read more about the taxation of this income here.
Income Tax Calendar – Important Dates for Year 2018 -19
Refer to this income tax calendar to know all the important income tax due dates. This comprehensive tax calendar by ClearTax will help you keep track of important tax related dates and deadlines.
Set Off and Carry Forward of Losses
A taxpayer incurring a loss from a source, income from which is exempt from tax, cannot set off the losses against profit from any taxable source of Income.
Section 119 of Income Tax Act
Central Board of Direct Taxes (CBDT) authorizes Income tax officers to accept such returns claiming an exemption, deduction, refund, carry forward of losses as the case may be, even after the expiry of the due dates prescribed. Section 119 of the Income tax act deals this. Visit to know more.
Income Escaping Assessment
The article lays down the difference between assessment and reassessment and basic information about income escaping assessment. It also gives the timelines for the issue of notice for income escaping assessment.
Benefits of Filing Income Tax Return on time – AY 2018-19
Income Tax Return Filing is beneficial even if you are under non-taxable income bracket. Learn more about the benefits of filing ITR. https://cleartax.in/s/income-tax-return-filing-benefits
Duplicate PAN Card
Apply for a duplicate pan card online, if you have a damaged or lost pan card. Know the online application procedure & list of documents required to apply for a duplicate pan card.
File ITR Without Form 16
Form 16 is an important document for salaried employees to file their annual income tax returns. How to file IT Returns without a Form 16. Read this article to know more about the steps to file
Detailed Explanation of Cost Inflation Index
Cost Inflation index also called Capital gain index is used to calculate the indexed cost of acquisition for long-term capital gain tax. Read this article to know more about the cost inflation index who notifies it with practical examples
Comprehensive Analysis of Tax Audit – Forms 3CA, 3CB, 3CD & 3CE
section 44AB is required to be done before the due date of 30th September. This Article Talks about the forms that are used for section 44AB tax audit report and detailed information about form 3ca, 3cb, 3cd,3e
e-PAN – Everything You Need to Know About it
e-PAN is a new initiative taken by the income tax department to ease the process of PAN allotment. This facility is only available to first time return filers who have an Aadhaar card. This facility is available only for a limited period of time.
Penalty for Late Filing of Income Tax Return – AY 2018 -19
ITR Late Filing Penalty – Filing your tax returns after the due dates has more consequences than just penalty. It impacts the carry forward and set off of losses and time for receiving the refund.
Section 80QQB – Royalty Income – Deductions under 80QQB
Section 80QQB : Deduction on royalty income earned by authors. Authors can claim section 80QQB deduction on royalty income. Let’s see the procedure for claiming deduction under income tax along with Form 10CCD format.
How to Retrieve Your Income Tax Login Credentials
It is quite common that people forget their login credentials for Income Tax Department website. Here’s a step by step guide to reset the password for Income tax Efiling. Lets see how it is done…
Life insurance Policy – Taxability & Tax Benefits
Life insurance policy and tax benefits under section 80 C, Exemption under 10 D
Luxury Tax in India
Defining Luxury Tax in India, where is Luxury Tax applicable, Luxury Tax rates on hotels and services. Luxury Tax under GST.
7th Pay Commission Pay Scales
7th pay commission pay matrix, pay scales, news and updates. All you need to know about 7th pay commission. Pay for defence personnel and central government employees
Residential Status for Income Tax – Individuals & Residents
Know about the income tax on residential status & it’s importance, determination for status of Resident, Non-Resident & Resident Not Ordinarily Resident & its taxability.
7th Pay Commission – Latest News
7th Pay Commission Latest News, Updates, Pay Matrix. Know 7th Pay Commission Calculator, Allowances and fitment factor. Latest News, Highlights and Summary
UTIITSL – PAN Card, Mutual Fund & Other Services
UTIITSL is one of the largest Financial Service Providers of India and provides technology and outsourcing services. Read this article to know about UTIITSL PAN, Mutual Funds and other offered services.
HDFC IFSC Code Search
HDFC Bank IFSC code search. Locate HDFC bank branch using IFSC. Transfer funds using NEFT, RTGS and IMPS using HDFC IFSC search code
Axis Bank IFSC Code Search
Axis Bank IFSC code search. Locate Axis bank branch using IFSC. Transfer funds using NEFT, RTGS and IMPS using Axis Bank IFSC search code
Explanatory Guide to Section 269SS and 269T
Section 269SS and 269T deal with the cash payment and repayment of loans and deposits. Both the sections were introduced to curb the black money. Read more about this on penalties & exceptions.
SBI IFSC Code Search
State Bank of India IFSC code search. Locate SBI bank branch using IFSC. Transfer funds using NEFT, RTGS and IMPS using SBI IFSC search code
PAN Card Status – Check your PAN Application Online
A step wise guide for how to check your PAN Application status?. Read more about Tracking based on acknowledgement number and Name and Date of birth
Know your Permanent Account Number (PAN)
Lost your PAN Card or do not have it with you? No, worries! Read this article to know your PAN / Permanent Account Number by Date of Birth & official name registered on the UIDAI website.
Wealth Tax India
Wealth tax is imposed on the richer section of the society. The intention of doing so was to bring parity amongst the taxpayers. Know more about Who is Liable to pay wealth tax? what are the charges , components of Wealth Tax
Pune Property Tax
It is the(PMC),(PCMC) [based on the location of property], that assesses a property to give it a value and levy tax on a person’s real or personal property in Pune. Read more about the tax calculation and various methods of payments
Savings Account – Bank Deposits
Savings accounts are designed to encourage more savings, unlike current accounts which allow unlimited transactions and do not offer any interest. Know more about Interests, Benefits and Tax Implications
How to Open a Post Office Savings Account ?
The post office savings account is a deposit scheme provided by the post office departments throughout India, which provides a fixed interest rate. It is a beneficial scheme for individual investors who wish to earn a fixed rate of interest by investing a significant portion of their financial asset
SFT – Statement of Financial Transaction
SFT / Statement of Financial Transaction under Section 285BA is a report of specified financial transactions by specified persons including prescribed reporting financial institution. Read this article to know more about SFT Rules, Forms, Due Dates, Remedies & consequences.
How to Open NPS Account in HDFC?
The National Pension Scheme was launched by Government of India in January 2004 to provide market-linked returns to pensioners. Initially the scheme was meant to serve only government employees.
Summary of Penalties Under the Income Tax Act
A timely and consistent paying of taxes and filing of returns ensures the government has money for public welfare at any point of time. To make sure that taxpayer does not default in paying taxes or disclosing the information, there are several penalties prescribed under the Act
Form 10C – Eligibility, Benefits, Attestation, Documents
Form 10C When in employment, an employee has a pension fund for securing the retirement age. In case of change of employment, the employee can carry forward the same account for pension. Therefore to avail the benefits he employee files a Form 10C.
NREGA – National Rural Employment Guarantee Act
This article states about the Objective of the NREGA / National Rural Employment Guarantee Act, Features, Funding the Implementation of the Act and about its roles & responsibilities.
RBI – Reserve Bank of India
What is Reserve Bank of India, Establishment, Objectives, Organisation Structure, Functions, Policies, Legal Framework, RBI Publications, Payment Systems
Permanent Retirement Account Number – PRAN
The article give information on Permanent Registration Account Number generated for subscribers of the New Pension Scheme. It provides details of documents required for applying for PRAN. It also helps understand the types of accounts available to PRAN subscribers
PFRDA – Pension Fund Regulatory and Development Authority
PFRDA is a pension regulator and work towards its promotion and development. It is a Central autonomous body and is a quasi government organisation and has executive, legislative and judicial powers similar to other financial sector regulators in India such as Reserve Bank of India (RBI), Securities
LIC Online Payment
LIC policy premium, How to Pay, Modes of Payment, Online, Offline, Bank, LIC agents, Online Service Portal, e-portal, LIC Tax benefits, LIC guidelines
National Pension Scheme Account with State Bank of India (SBI)
The NPS is a social security scheme launched by the central government of India. This article discusses how to open an NPS account with SBI
Bank Current Account – Meaning, Advantages and Disadvantages
Current bank accounts are very popular among companies, firms, public enterprises, businessmen who generally have higher number of regular transactions with the bank. The current account includes deposits, withdrawals, and contra transactions. Such accounts are also called the Demand Deposit Account
How to Open an SSY Account with State Bank of India?
This article is a brief understanding on what is Sukanya Samriddhi Yojana, who can open an SSY account, Key features of such account and the steps involved in opening an SSY account with SBI
Opening a PPF Account With SBI
The article lists the features of the PPF product and steps procedure on how to open a PPF account with SBI; alongwith the important points to be noted while opening a ppf account.
Opening a PPF Account in ICICI Bank
The article lists the features of the PPF product and steps procedure on how to open a PPF account with ICICI; alongwith the important points to be noted while opening a ppf account.
Pradhan Mantri Jan Dhan Yojana (PMJDY)
This article contains a detailed discussion about the scheme of Pradhan Mantri Jan Dhan Yojana introduced by the Government of India in 2014. Know about PMJDY Online Scheme, documents required for opening an account, benefits and much more.
Voter ID – How to apply, Eligibility, Documents required
Voter ID, Election card, Voter ID card. What is voter id, how to apply for voter id, eligibility, documents required, track voter id status, NRI voter id, EVMs
7th Pay Commission – Overview & Highlights
Pay Commission is an administrative system or mechanism appointed by Government of India to examine, review and recommend desirable and feasible changes to salary and its structure. Read on for the highlights of the 7th Pay Commission.
e-Tax Payment – Pay Taxes Online in India
Payment of taxes have been made easy with the e-tax payment option. The bank should be authorized by the department to process the tax payments and the taxpayer should have a netbanking account. if not the payment can be made at the bank.
www.uidai.gov.in – UIDAI Portal ( Unique Identification Authority of India )
UIDAI – the article gives a detailed understanding of the role and functioning of the www.uidai.gov.in / Official Aadhaar Website. It explains how one can have information changes on the Aadhaar or link other accounts to Aadhaar.
Form 67 – Claim of Foreign Tax Credit
Form 67 for claim of Foreign Tax Credit has to be submitted online of the return of income is filed electronically. This form has to be filed before due date of filing return of income under Section 139(1)
Health and Education Cess – Budget 2018
In order to fund the education and health proposals announced in Budget 2018, ‘Secondary and Higher Education cess’ was discontinued and ‘Health and Education Cess’ was introduced at 4% on tax
Income Tax Exemptions for Political Parties
Political parties in India do enjoy certain income tax benefits. For the definition of political parties, conditions for claiming income tax exemption etc read on.
IFSC Code Search
What is IFSC, How to find IFSC Code, How to transfer funds with IFSC, Types of fund transfer, NEFT, IMPS, RTGS &amp; Online Banking SMS. Benefits of IFSC Code, Accurate, Error-free, Secure. What is MICR, How to find MICR, Difference between IFSC and MICR, FAQs on IFSC
Charitable Trusts and NGO – Income tax benefits
Charitable Trusts and NGOs in India enjoy certain tax benefits in the form of income tax exemptions subject to certain conditions. This article discusses these exemptions and the conditions laid down for claiming them
Tax on Income from Patents – Patent Box Regime
Patent Box regime was introduced by Finance Act, 2016 under Section 115BBF to levy income tax from patents developed and registered in India at 10%. Read this article to know about patent taxation & treatment in India.
Filing Income Tax Returns – Common Mistakes
The article helps understand the various mistakes a taxpayer tends to make while filing a tax return. It also highlights the consequences some mistakes might have.
Retrospective amendment and retrospective tax
The Finance budget comes up with amendments some being prospective some being retrospective. Ever wondered what exactly is a retrospective amendment. And are these amendments welcome to taxpayers. Read on..
Dividend Distribution Tax
Dividend Distribution Tax (DDT) is the tax imposed by the Government on domestic companies which pay dividends to their investors.
Pradhan Mantri Rojgar Protsahan Yojana Scheme- Benefits, Eligibility Criteria
Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) Scheme is for incentivise employers for generation of new employment, Government of India will be paying the 8.33% EPS contribution of the employer for the new employment. In Textile Sector rest 3.67% EPF contribution will also be borne by Government
Details the taxation of digital advertising and online business marketing. The tax is withheld at the time of payment. Gives the rate and consequences of non-compliance
Different Types of Return Forms
Different types of forms which a taxpayer can file. Difference between the forms and the consequences of delay in the filing of forms.
PAN Card – What is PAN, Eligibility, How to Enrol, Download PAN
PAN / Permanent Account Number is an unique identification number assigned to all taxpayers in India. It acts as the primary key for storage of information & is shared across the country. Know more about PAN eligibility, documents required, structure, enrollment & much more.
TDS Challan Correction Procedure – Offline , Online in Traces
Now that you have paid tax deducted to the account of Central Government, what if there is any inadvertent mistake while making payment. Know more
Intimation under Section 143(1) of the Income-tax Act
Income tax department carries out a preliminary assessment of all the returns filed and sends an intimation to taxpayers under 143(1). Know more
Unexplained Cash Credit ( Section 68 ) – Tax Treatment of Cash Credits
Credit of any sum to the taxpayer requires to be offered to tax unless it is specifically exempted as per tax provisions.Know more about Section 68 on unexplained cash credit & its treatment.
Aadhaar Card – Eligibility, Documents, Application, Status, Verification & e-KYC
All you need to know about Aadhaar card. How to enrol for Aadhaar, details of Baal Aadhaar, eligibility for Aadhaar, documents required, verification, steps to edit/update your, Aadhaar card status.
Voluntary Provident Fund
Voluntary Provident Fund is the voluntary fund contribution from the employee towards his provident fund account. It also belongs to EEE category.
CBDT’s Central Action Plan for 1st Quarter of FY 2018-19
The CBDT has very recently come up with the Central Action Plan for the first quarter of the Financial Year (FY) 2018-19. Read on for the Key Result Areas..
Notices Issued Under the Income Tax Act
The article gives a basic understanding of the most commonly issued income tax notices issued by the department. The reasons why the notice is issued and the timelines till when the notice can be issued.
OLTAS – Online Payments & Refunds
A brief understanding of how OLTAS can be used for making tax payments online and also on how it can be used for understanding the status of refund dues
OLTAS TDS Challan Status Enquiry
This article gives a detail understanding on how the status of a challan can be found out either by a taxpayer or by the banks. Read on
Securities Transaction Tax (STT)- Applicability, levy and collection, income tax implications
STT is a direct tax levied on every purchase and sale of securities that are listed on the recognized stock exchanges in India. Governed by the STT Act
Online Tax Accounting System (OLTAS)
Online Tax Accounting System (OLTAS)- detailing the background, features and advantages of OLTAS
TDS Challan ITNS 281 – Pay TDS Online with e-Payment Tax
Challan ITNS 281- the article lays out the purpose of the challan along with the process of generating it. It gives the online and offline methods of generating the challan. Know more about Challan ITNS background, compliance, filing process & status check.
Kisan Vikas Patra – Eligibility, Features, Interest Rates & Returns
Kisan Vikas Patra is a certificate scheme that doubles a one time investment in a period of approximately 118 months. Read on to know more.
Atal Pension Yojana – APY Scheme Eligibility & Benefits
Atal Pension Yojana / APY scheme aims to provide pension benefits and social security to the people working in unorganized sector with a minimum contribution per month. Read on to know about APY Online Scheme, eligibility and benefits.
Pradhan Mantri Awas Yojana – Application Procedure
Pradhan Mantri Awas Yojana aims to provide housing at an affordable price to the weaker sections of the society. Read on to know more about it.
Section 14A and Rule 8D of the Income Tax Act
The article gives an understanding into Section 14A and Rule 8D of the Income Tax Act. A detailed understanding has been given through illustrations for better understanding.
Bitcoin Tax Calculator
Bitcoin Tax Calculator
Aadhaar PAN Linking Deadline – Latest News & Updates
Linking PAN with Aadhaar has now become compulsory. But the govt has exempted a few class of individuals from it, subject to certain conditions.Read this article to know about the Applicability and Exemptions
Who is an Assessing officer? How do you find your assessing officer?
An Assessing Officer (AO) is an income tax officer who has jurisdiction to make assessment of a taxpayer (assessee) who is liable to tax under the Act. Read on to know how to find your AO.
How to Link Aadhaar with Post Office Schemes, PPF, NSC, KVP
Aadhaar number needs to be produced mandatorily if you want to open a post office account or invest in the National Savings Certificate. Learn more here…
How to Link Aadhaar with Insurance Policies – Online & Offline
Linking of Aadhaar with insurance policies has been made mandatory by the government. To learn how to do so, read our in-depth article…
Link Aadhaar Card to Ration Card – Online & Offline Procedure
Ration cards are used by the individuals to get subsidized food. The government has made it mandatory to link Aadhaar to ration card for authenticity.
Link Aadhaar with LPG Connection – Online, Offline, SMS
Linking of Aadhaar with LPG connection is necessary for receiving the benefit of LPG subsidy. Learn more about this in our in-depth article…
How to Link Aadhaar with UAN and PF
Every salaried individual needs to update their Aadhaar details and link it to their PF and UAN account. how do you do it? Learn more here…
Link Aadhaar with Voter ID – Online, SMS, Phone, Offline Procedure
It is mandatory by law to link Aadhaar with Voter ID. You can do it through different steps at your own convenience. Learn more here…
Use ClearTax Mortgage Calculator to calculate your monthly mortgage payment & how much you can afford. Estimate your monthly payments and see the effect of adding extra payments.
Calculate total gratuity payable to you by ClearTax Gratuity Calculator. Know about gratuity, eligibility, formula, benefits & FAQs.
PF Calculator – Calculate EPF, Employee’s Provident Funds Online
Calculate the amount of money you will accumulate on retirement via ClearTax PF Calculator. Know about PF/ EPF benefits, interest rates & how to transfer EPF money online.
Income Tax Raid, Search and Seizure – What, When, How
An income tax raid otherwise called the search and seizure operation by the income tax department is one of the crucial weapons that the Income tax department possesses to check black or unaccounted money.
Savings Calculator – Calculate your Wealth Accumulated
Plan your future wealth accumulated with ClearTax Savings Calculator. Know about benefits of calculating your savings & get to know how much you should save for your/ family future.
Form 60 – Submit this if you do not hold a PAN
PAN is mandatory for various transactions. You can still enter into certain transactions without a PAN by just submitting Form 60. Read more..
Budget 2018: Impact on the Salaried Class
Budget 2018 has not announced any changes in tax rates and slabs for individuals. However, the standard deduction of Rs 40,000 has been reintroduced in lieu of transport and medical allowance.
Budget 2018: Impact on Senior Citizens
Union Budget 2018: For the senior citizens, the finance minister has announced an increase in the interest income exemption limit on fixed deposits and tax benefits in healthcare.
Union Budget 2018 Highlights: Key takeaways from Union Budget 2018
Budget 2018 highlights: No Change In Income Tax Slabs, Reintroduction of Standard Deduction, Benefits for Senior Citizens & Corporates etc
Budget 2018 – Get Live Updates on India Union Budget 2018
Union Budget 2018 live Updates: Complete coverage of Indian Union Budget 2018 with live updates, news & expert analysis. Get insights on trending budget 2018 expectations like aam, education, income tax & rail budget
How to Link Aadhaar with Bank Account
The article discusses the step by step process about Aadhaar Seeding online & offline i.e, linking your Aadhaar card to your bank account
BUDGET 2018 – What can we expect?
Parliamentary Affairs Minister Ananth Kumar further said that the budget session of the parliament is expected from January 29 to April 6,2018.
How to Link Aadhaar with Mobile
This article talks about the ways to link your Aadhaar with Mobile number.
How to Check Income Tax Refund Status Online?
An income tax refund is due to a taxpayer if he has paid taxes higher when compared to his actual tax liability, the status of refund can be checked either.
EMI Calculator : Home Loan, Car Loan, Personal Loan in India
EMI Calculator Online – Calculate your Equated Monthly Installments for any kind of loan with ClearTax EMI Calculator. Check your car, home, education and personal loan.
AS 22 Accounting for Taxes on Income
AS 22 Accounting for Taxes on Income explained including applicability, scope, consolidation process, disclosures required, subsidiaries excluded, differences with IND AS 110
PAN Card for Individuals
We discuss the importance of PAN card for individuals and also mentioned about the NSDL India Online & Correction of Application.
Direct and Indirect Taxes in India
The article discusses the two different categories of taxes- Direct and Indirect taxes, and Goods and Services Tax (GST) as an Indirect tax.
Capital gains can be invested multiple times to buy a new residential house property.
Income Tax allows exemption on the long term capital gain if you invest in a new residential property subject to certain conditions.Now recently ITAT Delhi has allowed multiple-year exemption
CBDT: No TDS on GST Component
CBDT has clarified that if GST on services has been indicated separately in the invoice, then no TDS on GST component will be deducted.
Do NRI need to disclose foreign bank account information in tax returns ?
It is not mandatory for NRI to disclose the detail of their overseas bank accounts while filing return in India.In case of refund,they should mention the bank account held by them in India.
Intimation u/s 143(1) – Reasons & Responding to Notice u/s 143(1)(a)
Letter of Intimation u/s 143(1) & Responding to Notice u/s 143(1)(a) – A step-by-step guide on how to reply to a income tax notice on mismatch in return income with Form 16/16A.
Second Phase of Operation Clean Money: 5.56 Lakh New Taxpayers Identified for Scrutiny
Income Tax Department launched the second phase of Operation ‘Clean Money’ on 14th April,2017 to detect the flow of black money into the banks after demonetization. During this phase, 5.56 lakh new persons have been iden
How to e- verify your return using Demat Account
After you have successfully filed your income tax return, the next step is to verify it. The Income Tax Department starts processing your return when it is verified.You can e-verify using demat account number
Update on Sec 269ST – Clarification on the repayment of Loan Insalments in Cash
You can repay your loan amount to any HFC (Housing finance company) or NBFC (Non-banking finance company) in cash provided each loan instalment is less than Rs 2 lakh.
Aadhaar Mandatory for PAN application from Ist July,2017
Aadhaar has to be quoted mandatorily while applying for PAN. If you do not have Aadhaar but has applied for it, then you can also quote your 28-digit enrolment id.
Know About Form 16C and Challan 26QC for deducting TDS on Rent
individual/HUF not covered under tax audit are also required to deduct TDS @ 5% if the payment of rent is Rs 50,000 or above.TDS deducted should be paid within 30 days from the end of the month in which tax is deducted.
How to E-verify your Income Tax Return using Bank Account
E-verification of the return is done by generating Electronic Verification Code(EVC). EVC is a 10 digit alphanumeric code which is sent to registered mobile number. EVC can be generated using bank account
Do I Need to Pay Tax on Dividend Income?
Dividend received from an Indian company is exempt from tax, whereas the dividend received in excess of Rs 10 lakhs is taxable.
Running a Business : Be Careful about claiming Payments made to Relatives
Section 40A(2) gives power to the income tax officer to disallow any expense if payment is made to specified persons and he considers it to be excessive in regard to fair market value of goods or services provided
What to do if you have two PAN
Every person should possess only one PAN number. It’s illegal for a person or company to have two PAN.You can apply for surrender of PAN Offline & online
How to Apply for PAN Card ? – Online Pan Application
NSDL website & UTIITSL website have been authorized by the govt.to carry out PAN transactions on behalf of the Income Tax Department. Read this article to know how to apply for PAN Card & how to make changes or corrections in your Permanent Account Number.
Tax Planning Under MAT
Know about MAT (Minimum Alternative Tax) which is tax payable under Income tax Act. Check out the concepts of MAT & how to calculate MAT.
Can You Save Tax by Transferring Money to Wife’s Account?
Find out if you can save tax by transferring money to wife’s account. Check out how is the income from such transfer treated from income tax standpoint.
How to Respond to a Defective Return Notice?
Check out how should you respond to a defective income tax return notice and revise your income tax return in response to the notice
How to Respond to a Demand Notice from Income Tax Department?
A step by step on how to respond to a demand notice from Income Tax Department. Check out where can the details of the demand be accessed.
Basics of Income Tax for Beginners
Here is the simplified guide on income tax basics for beginners. Know about terms like tax year, salary, deductions, medical expenses, heads of income.
How to request for a refund reissue?
A step by step guide with screenshots on how to make a refund reissue request from the income tax department. Check out what does refund unpaid mean.
Section 44AD – Presumptive Scheme to be opted for atleast 5 years
Know about the new condition that has been added to presumptive income under Section 44AD. Check out the additional conditions to opt for presumptive scheme
Income Tax Slab and Rates for FY 2018-19, 17-18, 16-17 and 15-16
Find out the Income Tax slab tax rates for FY 2017-18 (AY 2018-2019) and FY 2016-17 (AY 2017-18) . Theses tax slab determines how much you will pay in taxes.
How to Link Aadhaar Number to PAN Card?
A guide with screenshots on how to link aadhar to PAN / Permanent Account Number. Compulsory to provide both Aadhaar & PAN number while filing Income Tax Return ( ITR ) .
How to Apply for Aadhaar card
Learn the procedure on how to apply for Aadhaar Card and check status of allotment of Aadhaar Card Online.
Did you Receive Intimation under section 245 of the Income Tax Act?
Find out why you have received intimation under section 245 of income tax act. Know how to respond to the Assessing Officer regarding this intimation.
Landlord’s PAN Mandatory for HRA Exemption
Income Tax Department has made PAN card mandatory for HRA Exemption. Find out what to do in case your landlord doesn’t have PAN.
Can you claim both HRA & deduction on home loan interest?
Find out whether you can claim both HRA & deduction on home loan interest? See if you can avail house property-related tax benefits to lower taxable income.
HRA – House Rent Allowance – Exemption Rules & Tax Deductions
Details for what is HRA, how is tax exemption from HRA calculated. Check whether you can claim HRA and Deduction on home loan interest as well?
Revised rules related to Submission of Form 15CA and Form 15CB
Check out the rules revised by income tax department relating to the preparation & submission of Form 15CA and Form 15CB which are effective 1st April 2016.
Filing Form 10E is Mandatory to Claim Relief under Section 89(1)
to claim relief for arrears salary received, you will have to file form 10E. This is a step by step guide to file form 10E. This form is required to be filed on Income Tax Website before filing your income tax return.
Handbooks on Taxation for Individuals, Freelancers, Traders & Investors
Download the Tax Handbook for individuals, freelancers, Traders & Investors. Use the guide to find out How to Deal with Taxes?, How Taxes work etc.
Getting ESOP as salary package? Know about ESOP Taxation
Understand how ESOP is taxed and find out the instances where it is taxed. Read about key terms involved in ESOP taxation.
Tax Rebate Under Section 87A
Find out Who can claim Income Tax Rebate u/s. 87A for FY 2017-18 and FY 2016-17. Know how to claim section 87A rebate in ClearTax Software.
How to Respond to a Notice Issued for Non Compliance or Non Filing of Returns?
Did you receive an Income Tax Notice to file returns? Here’s the step by step guide to submit the compliance form online at Income tax department website.
RBI Issues Rs 500 Note in a New Series
Now your bank notes in a new design
RBI Issues Rs 2,000 Note in a New Series
Now your bank notes in a new design
Currency Note Demonetization – All You Need to Know
The government has introduced measures to stop circulation of black money. Here’s what you need to know.
Top 5 Income Tax Notices & How to Avoid Them
Here are the top five reasons why income tax notices are issued and ways on how to dodge them.
Investment Declaration Guide
A comprehensive guide on investment declaration and submission of Form 12BB.
List of Pages related to Notices and Intimations
Know Notices and Intimations about Income Taxes on ClearTax
How to deal with Income Tax Notice under section 143(2)
Get help from ClearTax if you have received a notice under section 143(2) (for scrutiny of tax return) from the income tax department.
Requesting for a Refund Reissue
Guide to requesting for a refund reissue
Checking my Refund Status
Quickly check your Refund Status using this guide
Understanding Income Tax Notices
A notice from the IT department is not always a bad thing. Keep calm and read this guide first!
Create Rent Receipts for HRA easily — ClearSave by www.cleartax.in
Create rent receipts to submit as investment proof. Rent receipts for HRA. Create rent receipts to submit to HR/Payroll. Save income tax on rent.
House Rent Allowance
Salaried individuals who live in a rented house can claim House Rent Allowance or HRA to lower taxes. This can be partially or completely exempt from taxes
Income Tax Calculator by ClearTax
Free Income Tax Calculator for Assessment Year (AY) 2015-16. An online tax calculation tool that tells you how much Income Tax you owe to the Income Tax Department with just a few clicks!
Can you claim both HRA and deduction on home loan interest?
You can enjoy both the tax benefits if the employer provides you with an HRA component as part of your salary and you are paying your home loan off
Landlord’s PAN required for HRA exemption
Ask for your landlord’s PAN if you are taking a house on rent and making a payment exceeding Rs 8,333 per month
Income Tax Slabs | Income Tax Rate for 2017-2018 and 2016-2017
Income Tax slab tax rates for FY 2016-17 & FY 2017-18. The Income tax slab determines how much you will pay in taxes.
How to view your Form 26AS?
This guide explains the Tax Credit Statement or Form 26AS
Paying Income Tax that is due
A step-by-step guide to understanding how to pay income tax that is due