The Central Board of Direct Taxes has recently released the new ITR-4 Form, which is supposed to be used by individuals who are earning business income for the Assessment Year 2018-19. ITR-4 Form is generally called as Sugam. ITR-4 is to filed by those individuals and Hindu Undivided Families who have business income and has… Continue reading What are the changes in ITR-4 Form?
The ITR-4 Form is the Income Tax Return form that is used by those taxpayers who have opted for the presumptive income scheme as under Section 44AD, Section 44ADA and Section 44AE of the Income Tax Act, 1961. Moreover, if the turnover of the business mentioned above exceeds Rs 2 crores, the taxpayer will have… Continue reading All about ITR- 4 Form and who can use it?
Form 16 is a certificate that is issued under Section 203 of the Income Tax Act, in consideration with the tax deducted at source from salary. Form 16 is also considered as the detailed record of the Income Tax deducted from the salary of an employee by the employer. At times Form 16 is also… Continue reading What is Form 16 and why you need it?
Whenever a payment is made, TDS should be deducted. The rate at which TDS is deducted depends on the nature of the payment. Here we will tell you about the how TDS is deducted under section 194C which mainly focuses on the TDS deducted on payment made to the Contractor or the Sub-contractor. Income tax… Continue reading How TDS is deducted under Section 194C?
Many taxpayers are quite adamant about their Income Tax Refund and in the middle of the process, they forget to check their Income Tax Refund Status. Once you claim Income Tax Refund, you should check your Income Tax Refund Status. The tax refund is generally provided in two different ways: – All India ITR Login | Start… Continue reading What is income tax refund?
The late date to file Income Tax Return is 31st July 2018, for the financial year 2017-18. It is important to file your Income Tax Return as early as possible, to avoid the last-minute hassle. Here are things you must keep in mind before you file your Income Tax Return for Financial Year 2017-18: –… Continue reading Things every Taxpayer must keep in mind
There is a bit of tension on the air for all the Non-Resident Indians (NRIs), as the Government has shut the window that led to small savings for the NRIs. Till now, the NRIs had the liberty to keep their Public Provident Fund (PPF) accounts and National Savings Certificate(NCS), but they did not have the liberty… Continue reading Tax Troubles faced by NRIs