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How to Get Registration of Digital Signature and filing IT Return Using Digital Signature

For laymen, this is the most difficult work to register digital signature and file income tax return using digital signature. But incometaxefiling.gov.in has made a proper guide on registration and filing of income tax return through digital signature. Hope you like it and learn form it. Download the full procedure in PDF Format 

Do’s, Don’t's and Common Errors while e-filing Income Tax Return

Do’s, Don’t’s and Common Errors while e-filing Income Tax Return. A must see presentation for professionals and laymen made by income tax department officially. do’s, don’t’s and common errors while e-filing income tax return

Tax Rates for Non Resident of India (NRI)

Tax Rates for Non Resident of India (NRI) by (etaxindia.org) a) In general Slab rates for Non-Residents are similar to the slab rates of Indian Resident Individual (i.e., General Category) b) But there are some exceptions to the above condition as follows: S.No Source of Income Sec Tax Rates 1 Dividends received by NRI (Other than dividends referred in Sec.115-O 115A (1)(a)(i) 20% 2 Interest received by NRI from Government or Indian concern on monies .....

Form of Declaration for TDS (F.Y.2011-12) and HRA Relief

FORM OF DECLARATION FOR THE F.Y. 2011-2012 PLEASE NOTE:             »         PAN  & Address are mandatory. Please do not fail to furnish the same.             »         Please indicate details of your investments in appropriate columns only. (1)     Full Name: Mr. /Mrs./Ms. ____________________________ Department ______________Designation ______ Branch _________________________________ Contact No. ______________ Male / Female  ___ Email Id __ ______________________________ Date of Birth ________Date of Joining _________ (2)     Income Tax Permanent A/c. (PAN) No. : __________ (MONDATORY) .....

Income Tax Return Checklist for Your Clients

Income Tax Return Checklist for Your Clients Client Documents Previous year(s) ITR and computation (Ignore if exiting client) XML file and password or Security answer of income tax e-filling site (Ignore if exiting client) P  & L, Balance sheet and other relevant ledgers digital signature Necessary documents and deeds in case of capital gain Necessary documents for deduction under chapter VI A Various Certificates in case of TDS(16A, 16G) Check Head wise income Salaries House .....

ICAI Pre-Budget Memorandum-2012 on Direct Taxes

ICAI Pre-Budget Memorandum-2012 on Direct Taxes Download in Zip Format 

Interest, Penalty & Prosecution for Failure to Deposit Tax Deducted

If a person fails to deduct the whole or any part of the tax at source, or, after deducting, fails to pay the whole or any part of the tax to the credit of the Central Government within the prescribed time, he shall be liable to action in accordance with the provisions of section 201. Sub-section (1A) of section 201 lays down that such person shall be liable to pay simple interest (i) at one percent for every month or .....

Download TDS Rates Chart for Salary & Non Salary Payment (A.Y.2012-13 & 2011-12)

Download TDS Rates Chart for Salary & Non Salary (A.Y.2012-13 & 2011-12). (Excel File)

Income Tax Refund Status – Quick Guide

You should check out on https://tin.tin.nsdl.com/oltas/refundstatuslogin.html entering the correct PAN in capital and selecting the relevant assessment year. If it shows that “refund cheque has been encashed”/ “refund is credited to your bank account, please contact your bank” then you should verify it from your bank account on the particular date. However it does not show the refund amount. To know the refund amount, you should check out Part – D of Form – 26AS .....

Computation of Business Income Statement – Download Excel File

Computation from Income form Business IN THIS EXL SHEET YOU HAVE TO JUST NEED TO ENTER PROFIT AND LOSS ACCOUNT, DEPERCIATION AS PER COMPANIES ACT AND DEPERCIATION AS PER INCOME TAX ACT. Or ANY DEDUCTION AS PER UNDER SECTION 80 Download Computation of Business Income Statement 

Black Money: Will Respond to All Legitimate Requests, Says Swiss Government

Black money has always been a problem for India where most of the corruption takes place due to this same cause. The past saw arrivals of many different measures and schemes which aimed at reducing and eradicating black money in India, but most of them sadly failed due lack of foreign support. The present approach to get hold of black money has been taken in form of a global approach that includes a double taxation .....

IT Department Sends Notices Over Bank Accounts Abroad

The issue of black money and its maintenance in foreign bank accounts has been a long incident which is characterized by unfair tax evasions and income assessment. The fight against corruption has been a long one where each and every measure leads to new sources of evidences in respect of black money which is generated in India and later on transferred to outside India. The Income Tax Department has taken several initiatives which includes going .....

Government to Allow Companies with Secured Loans to Convert into Limited Liability Partnerships!

With the companies being too much dynamic in their approach towards development, the Government now posts a better and a much flexible option assisting such companies by way of allowing the same to be rehabilitated into limited liability partnership firms even with the presence of secured loans which are outstanding at the moment. The cause is supported by the Ministry of Corporate affairs which states that the companies who have secured loans attached to them .....

Good News for Investors! Government Increases Interest Rates on PPF

Development has its own terms and nature which is reflected by way of dynamic government policies and declarations. The latest news from the development sector is in form of that there has been certain amount of relief for people belonging to the lower income groups. The relief can be regarded as an indirect one where people are not directly given any incentive but rather their savings habits will now yield them a better return as .....

How to Make a Statement of Taxable Income

One might have all the required knowledge with respect to making up a statement of income of an assessee and yet one cannot frame it properly, the reason being knowledge about framing a proper statement of income where all the items in relation to taxability of an assessee are listed as per the prescribed rules and the regulations, where each of the head of income that we have learnt earlier has been properly framed as a segment wise. To .....

Knowledge About Deductions And Availing Exemptions

Exemptions are one of the most important areas in tax planning as they form the base from where tax planning can be done in the best possible way. There are many ways by which assesses can save some amount by way of investment. Section 80CCE relates to investment in New Pension Scheme (NPS) which is a deduction in respect of contribution made by an employee as well as an employer on behalf of the employee. However, taken together the .....

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