Tips and tricks for solving tax related problem
The last date for filing Income Tax Return for the A.Y. 2019-20 (F.Y. 2018-19) has been extended again by the CBDT. On 29th July 2020, a notification has been issued by CBDT (Notification No 56/2020). According to this notification, the last date has been extended from 31st July 2020 to 30th September 2020. In a … Read moreNotification No 56/2020. CBDT Extends last date for ITR for A.Y. 2019-20
Ok, you are very curious to know the difference between “Assessment Year” and “Previous Year”. And why not. If you are a taxpayer or a student then you are familiar with these terms. However, in order to proper Income tax Return, you must have proper idea about the difference between these two important terms. Let’s … Read moreDifference between Assessment Year and Previous Year.
So, you want to know the meaning and definition of “Person” u/s 2(31) of the Income Tax Act 1961? You are in the right place. Here you will get every information about the term “Person” u/s 2(31). So, let’s start our discussion. Definition of Person u/s 2(31) of the Income Tax Act 1961 The term … Read moreDefinition of Person u/s 2(31) of Income Tax Act 1961
So, you want to know what is the meaning of “Assessee” u/s 2(7) of The Income Tax Act 1961? You are in the right place. Here, you can find not only the meaning of “Assessee” but also its explanation with example. Let’s start the discussion. Who is an Assessee? Are you liable to pay tax? … Read moreMeaning of Assessee u/s 2(7) of the Income Tax Act 1961.
On 5th July evening, I was busy to understand Budget 2019 and its impact on Tax. “There will be no use of PAN card! Is it true?” One of my clients asked me. Believe me, I was ready for that particular question. “No. Not like that”. I replied. He looked at me. There was a … Read moreBudget 2019: 16 Key Points related to Tax
So, you want to know how to reset the income tax e-filing password. It is very easy. If you want to file your ITR, you have to login in your e-filing portal. For this, the user-id and password are very important. By default, your PAN is your user-id. And at the time of registration, you … Read moreHow to Reset Income Tax e-filing Password?
You can pay your income tax in both offline and online mode. However, it is very easy if you choose online mode. Actually, the procedure of online tax payment system is very user-friendly. It is really hassle-free. So, why not you choose the online mode instead of offline mode? And, the best part is you … Read moreHow To Pay Income Tax Online?
It is very important to know how to register and log in on the Income tax e-filing website. Why? Otherwise, you can’t file your returns online. And it is the very first steps in your total income tax journey. You have already earned your income, TDS has deducted already and now you want to file … Read moreHow to register and log in on the income tax e-filing website
Hello Taxpayer! How are you? Are you ready to file your return for the A.Y. 2019-20? I hope you are all engaged in last minute preparation for tax computation and return filling. All the tax consultants are very busy now. Why???? Because the deadline for return filing is 31st July (For normal taxpayers). Today, I … Read moreHow to file ITR-1 for the A.Y. 2019-20
In general, you are liable to pay tax in respect of your own income. However, sometimes it may not happen. In some specific cases, the income of other persons may be added with your income. Your income tax liability will be calculated on the basis of such total income. It is known as “Clubbing of … Read moreHow to understand Clubbing of Income provisions under the Income Tax Act