Aadhar PAN

The income tax department has provided relief upon some non-residents and foreign investors from filing ITR from FY 2020-21, an initiative that has a motive to simplify the compliance load. Via notification department of Central Board of Direct Taxes (CBDT) specified that non-residents (corporates or others poses no income excluding the income through the investment …

No Need to File ITR for Specified Non-residents & Foreign Investors Read More »

ITR filing procedure does not finish on the stage of verification. When the person has validated his own tax returns then the income tax department then initiates the process of the tax return. Post to the process of income tax return the income tax department sends the intimation notice. Under section 143(1) of the Income-tax …

Easy Guide to Read & Check Income Tax Intimation U/S 143(1) Read More »

Let’s discuss more the form 16C and challan 26QC for deducting the TDS on rent. So as to draw a higher rental income group under the tax, the government in budget 2017 has incorporated a new section 194IB. Provision, the person and HUFs who file the rent of INR 50k or more shall need to deduct 5% …

All About 16C Form & TDS Challan-cum-statement Form 26QC on Rent Read More »

ITR can be furnished in two ways: online and offline. In the traditional method, you can enter all the important information on an online form and submit it. Through the earlier means, one needs to download the subject income tax utility either in excel or JSON format, fill the form, save the changes, generate an XML …

Full Process to Generate XML File of Your ITR on New Portal Read More »

The last date to furnish the ITR has been just away from 2 months i.e 31st Dec 2021. Thus it is good for the taxpayers to begin filing their taxes earlier. Here are the 6 most essential elements to file the taxes. Why it is Essential to Opt for the Correct ITR Form? It relies …

Ultimate Solution of Common FAQs While Income Tax Filing Read More »

The income tax IT department secures the latest Annual Information Statement (AIS) on the compliance portal that furnishes a complete object of the details to the assessee with the facility to take online feedback. AIS is much more described in detail with respect to the previous Form 26AS that consists of effective details towards the financial …

Income Tax Dept New Annual Information Statement on 2.0 Portal Read More »

What is the Method to Manual Check Bulk PAN/TAN Service? The validation of the Bulk PAN or TAN service is available to external firms. The external firms consist of the Union and State Govt Departments or undertakings, RBI-approved Banks, recognized autonomous bodies and Financial Institutions. Upon its enrollment as an external agency on the income tax …

Easy Process to Verify Bulk PAN & TAN on New Tax Portal with FAQs Read More »

The taxpayer who has disputed within the provision of the income tax act 1961 shall be subjected to file the penalty. The penalty will be imposed on the levied amount and is distinct from the tax that is needed to pay. The fines and penalty shall be imposed on the taxpayer who performs unwanted deeds …

10 Serious Offences with Applicable Penalties Under Income Tax Act Read More »

What is CBDT New e-Settlement Scheme 2021? CBDT has vide Notification No. 129/2021 Income Tax on 01.11.2021 and beneath section 245D (11) & 245D (12) of the Income-tax Act, 1961 provided e-Settlement scheme, 2021 to settle due income-tax settlement applications assigned to a settlement commission. Subject Ability & Reach of e-Settlement Scheme, 2021 It undergoes imposition on …

All About CBDT e-Settlement Scheme 2021 with Applicability Read More »

The status of the residential person poses an essential role in finding out the method of his or her income that shall come under the tax for that year in India. Moreover, the non-resident Indians NRIs and the Persons of Indian Origin (PIOs) are very careful in preparing their stay in India for the specific …

How Can DTAA Give Benefits to NRI in India on Double Taxation? Read More »