Due date to file income tax returns extended to 31 August 2019

The income tax department has extended the due date for filing income…

Centre Might Notify More Classes to File Income Tax Returns

In order to curb tax evasion and widen the taxpayer base in…

Union Budget 2019: TDS of 2% on Cash Withdrawals from Bank Accounts

The Union Budget for FY 2019-20 was presented by the Finance Minister…

Senior citizens with Rs 5 lakh income qualify for TDS exemption

As per the Central Board of Direct Taxes (CBDT) notification, senior citizens…

Taxman may prosecute for delayed payment of TDS

Tax deductors are obliged to deduct tax at source on a variety…

CBDT introduced new changes to Form 16 for FY 2018-19

The tax-filing season is here and it is time for you to…

Difference between a tax rebate and tax exemption

As a responsible citizen of the country, you must pay your income…

Key Changes to ITR-1 & ITR-2 for FY 2018-19

The new Income Tax Return (ITR) forms for AY 2019-20 have been…

IT Raises Tax Rebate instead of Exemption Limit

The income tax department raised the rebate available under section 87A to…

Complete salary break-up asked in new ITR-2 return form

The Income Tax Department (ITD) has recently released ITR 2 excel utility…