Income Tax Articles

Bajrangi and Bahubali, etc. like now Income Tax Department have target of Crores

CA Umesh Sharma 28 July 2015 at 10:27

Karneeti Part 108Bajrangi and Bahubali, etc. like now Income Tax Department have target of Crores Arjuna(Fictional Character): Krishna, Income tax department on 17th July 2015 has given target to find �New Taxpayers� to the Chief Commiss

Basic components of salary and its taxation

CA SONIYA AGARWAL 27 July 2015 at 11:38

CTC is cost to company and the components areBasic+HRA+CONVEYANCE+MOBILE REIMBURSHMENT+MEDICAL reimbursement+All allowances+LTA+employer contribution of PF+Employer Contribution towards ESI+Total variable incentives+Perks & benefits+ Insurance Pr

E-Verification of ITR

Harihar Mandal 27 July 2015 at 11:38

The days have been gone when we rushed to post offices for sending our acknowledgement copy (ITR-V form) of income tax return, filed online (without using DSC), duly signed to

All about IT Form 16 for salaried employee

CA SONIYA AGARWAL 24 July 2015 at 10:57

What is Form 16:- If you are salaried employee in an organization, then you will get the salary after deducting tax by the employer. Therefore Form 16 is a certificate issued to you by your employer stating the Personal details of the Employee includ

Points to be considered by a taxpayer before filing an ITR

CA ANKIT GUPTA 24 July 2015 at 10:56

1. Due Date of Filing of Income Tax Return is proposed to be extended to 31 August �2015 in respect of Assessment Year 2015-2016. 2.The maximum amount of deduction available under Chapter VI A has been extended from Rs.1,00,000 to Rs.1,50,000

TDS on Interest other than Interest on Securities 194A

CMA Poornima Madhava 23 July 2015 at 10:33

Any person (not being an individual/HUF*), responsible for paying to a resident any income by way of interest other than interest on securities, is responsible to deduct tax at source and deposit the same to the Government Treasury within the time st

Indispensable components in the salary

Ravi Dasija 23 July 2015 at 10:17

Income Tax!! Not only is it a major expense but also an unavoidable one for each person to bear. And if you draw a salary, your tax expense is probably the highest.Imagine, yo

Income tax deduction in India

Neeraj Sharma 17 July 2015 at 11:11

Every individual who earns an income in India is supposed to pay Tax on the Income earned by him during that financial year to the government of India. Calculation of the Income Tax to be paid by an individual is a cumbersome process. The government

How to e-verify ITR with the help of EVC

SAMEER AHMED 17 July 2015 at 11:02

Source:-The Notification No.2/2015 on dated 13.07.2015The Notification will come into effect from the date of issue.By this notification the process of verification after e-filing of any Income tax return has been modified only.Before this notificati

New to income computation and disclosure standards (ICDS)? Here's what you need to know

Karan Khatri 15 July 2015 at 10:36

INTRODUCTIONBackgroundSection-145(2) of Income tax Act, 1961 empowers Central Government to issue Income Computation and Disclosure Standards (ICDS).Key Features of ICDS Effective Date of ICDS is 01stApril, 2015e. AY: 2016-17 onwards. ICDS applicable