Form 1701– Use this ITR form if 1) you are a mixed-income individual, meaning you are an employee AND also earning income from a business or side profession (ex. consultancy work, freelance writer, etc.) or 2) if you’ve chosen Graduated Tax rate with an Itemized Deduction Method Form...
Tax liabilities are calculated based on the income of taxpayers. Taxes that were overpaid by an individual during a year will be refunded by the Income Tax Department. Individuals or businesses that earn income during a fiscal year are required to file an income tax return, per the income tax...
If individuals have their TDS deducted under section 194N, then they cannot file ITR1. In accordance with section 194N, if the individual withdraws a cash amount of more than INR 20 Lakhs, then the tax will be deducted at the source. On the other hand, the tax is deducted at source ...
An updated ITR (ITR-U) can be filed irrespective of whether an individual has filed an original, belated or revised ITR or has completely missed filing the form in a particular financial year. A taxpayer could file only one updated return for each assessment year(AY). ...
How to Fill Form 15G/15H Let’s start by Filling Form 15G, which is shown in the image below New Form 15G since 1 Oct 2015 Field 1, Name: write name as per your PAN. Field 2, PAN: write your PAN number. Field 3, Status: Your income tax status which can beIndividual/ Hindu...
Erase Files/Folders:This option allows you to wipe individual files and folders from the drive securely. Erase Recycle bin:This option helps to securely erase the files from Recycle bin beyond recovery. Erase Drive Free Space:This option is useful to wipe free drive space securely. ...
Learn how to file Income Tax Returns ( ITR ) for FY 2022-23 (AY 2023-24) and FY 2023-24 (AY 2024-25). We covers tax concepts on Salary, interest, Capital Gains, House Property, Business and Profession and GST.
Q.4 – What steps to follow if the amount of advance tax has been Paid in Bank Account; however, It is not reflected in Part C of Form 26AS Q.5 – Can an Individual amend the name and address (mentioned in PAN) in Form 26AS FacebookTwitterLinkedInPinterestPrintFriendlyDisclaimer...
Compensation type: Employers pay salaries to full- and part-time employees in exchange for their services based on the job description for each individual and negotiation between both parties. An intern, apprentice or trainee may get a predetermined sum of money as a stipend to help with specific...
An individual needs to be very cautious while filing returns as any incorrect information furnished in returns may get you penalized by the tax authorities or even put you behind bars. The Income Tax Department can impose a penalty of up to 200% on you for filling in incomplete information ...