Online filing of ITR mandatory: In a departure from the previous year, all individuals (except for super senior citizens i.e above 80 years of age) will be required to file their ITRs electronically. The ITR-1 for FY 2018-19 cannot be filed in paper format by the taxpayers having income...
therefore no need to pay interest u/s 234A,but if any tax is due then you have to pay interest under section 234B, 234C. Please pay Self Assessment Tax using Challan 280, Update the tax paid in ITR and then revise the return. As explained...
“How Income Tax is Calculated on Salary?”– Navigating the labyrinth of income tax calculation in India, particularly for salaried individuals, can be akin to solving a complex puzzle. Fear not, for it’s a crucial puzzle to unravel in the realm of personal finance. Income Tax Calculator s...
Do remember that as in case of other TDS, any TDS done with respect to your EPF withdrawal will also reflect in your Form 26AS. You have to show it in your ITR. EPF Form 15G – How to fill online for EPF withdrawal? Now you have understood the TDS rules applicable to EPF and als...
Advance Tax for Salaried Employee If an individual’s only income is his salary, then the employer will deduct tax from his income(TDS) and submit it. In such a case there is no cause for worry over advance tax payment. The tax deducted will be made available to the employee by the em...
Income tax refund is the amount which the Government pays back to the taxpayer who has paid excess taxes. One may end up paying extra tax directly or indirectly. For example for a salaried individual, if an employee fails to declare tax saving investments or he does not claim HRA, his emp...
How to use Pradhan Mantri Garib Kalyan Deposit Scheme PMGKDS 2016 is about Salient features, Forms to use to deposit money, where to deposit.
In EPF, 24% of an employee’s salary is diverted to the EPF as a mandatory retirement saving scheme.There is no clarity on how the amount mandatorily deducted from the employer’s contribution and put into the EPS will be invested. But we guess it would also be invested in NPS like Gov...