income tax return

Discovered some mistake after filing Income Tax return?- Understand the rectification process of Return to escape Penalties 3 min read

• Income Tax

Discovered some mistake after filing Income Tax return?- Understand the rectification process of Return to escape Penalties

Rajbir Chawla 8 months ago

In the event any unreported income is discovered by Income Tax Department during assessment, an assessee is liable to pay penalties which may extend upto 300% of the tax sought to be avoided besides Income Tax and the Interest due thereon... Read More

What are changes in the income tax return form to be filed this year? 4 min read

• Income Tax

What are changes in the income tax return form to be filed this year?

Rajbir Chawla 3 years ago

The government announced the new ITR form for the fiscal year on March 31, 2021. The ‘ITR’ is a form used by taxpayers to record... Read More

Seven Common Mistakes to Avoid When Filing Income Tax Return 3 min read

• Income Tax

Seven Common Mistakes to Avoid When Filing Income Tax Return

Diksha Garg 3 years ago

The last date for filing the IT return for the financial year 2019-2020 has been extended to November 30. Though, while filing the return, utmost... Read More

Government may need to further extend the tax return deadline if COVID Cases continue to rise 2 min read

• Income Tax

Government may need to further extend the tax return deadline if COVID Cases continue to rise

Diksha Garg 4 years ago

Coronavirus cases are increasing day by day and it has become very difficult for the taxpayer to follow all the norms. Finance ministry has taken... Read More

Declaration of Income Tax Returns: Does an NRI have to declare their foreign bank account information? 2 min read

• Income Tax

Declaration of Income Tax Returns: Does an NRI have to declare their foreign bank account information?

Diksha Garg 5 years ago

When it comes to disclosure of overseas accounts of NRI’s, there is a lot of confusion and chaos pertaining to the disclosure of the overseas... Read More

Some of the Best Income Tax Judgements for 2018 that can help plan your income tax liability 4 min read

• Income Tax

Some of the Best Income Tax Judgements for 2018 that can help plan your income tax liability

Diksha Garg 5 years ago

Each and every year, numerous judgments have been delivered on the Income Tax Act. Of all these cases, there are a few which have been... Read More

New Income Tax Return Forms: Details of cash deposited during demonetization to reported now in the returns 4 min read

• Income Tax

New Income Tax Return Forms: Details of cash deposited during demonetization to reported now in the returns

Sourav 7 years ago

The Income Tax Department officials would now seek the details of all deposits done by the assessee during the period of demonetization as a part... Read More

Common mistakes to avoid while filing income tax returns 3 min read

• Income Tax

Common mistakes to avoid while filing income tax returns

Sourav 7 years ago

The season for filling the Income Tax return is back. Everyone whose income is above INR 5 lakhs are required to mandatory e-file their income... Read More

Penalties for Tax Evasion in India 5 min read

• Income Tax

Penalties for Tax Evasion in India

Akanksha 7 years ago

Introduction to Tax Evasion Tax evasion refers to any attempt to avoid payment of taxes by using illegal means. Some of the common forms of... Read More

Why you need to Hire a Tax Professional to file your Income Tax returns 4 min read

• Income Tax

Why you need to Hire a Tax Professional to file your Income Tax returns

Sourav 7 years ago

If maintaining the books and following the numbers simply isn’t your forte, please appoint some professional to help you file your income tax returns. There... Read More