Form 1701A–Use this form if you are earning purely business income or income from your profession. This is a new form released by the BIR for those who chose the Optional Standard Deduction Method (OSD) or opted in for 8% GRT in the previous year. You can also refer to this handy f...
you are required to specify whether the house is –‘Self Occupied’, ‘Let-out’ or ‘Deemed Let-out.’ In the previous year’s ITR-1, there was no such option of ‘Deemed Let-out‘ in ITR-1.
ITR or theIncome TaxReturn is the process of filing tax by the eligible taxpayers. The ITR form should be submitted to the Income Tax Department of India. Fundamentally, theITR formaims at collecting entire information of the taxpayer’s income for a particular fiscal year. You can log in t...
Assessment Year: Income Tax return, ITR, is bound to an assessment year. For income earned in FY 2015-6 assessment year is AY 2016-17. Income Tax return forms(physical and excel) of AY 2016-17 and AY 2015-16 are different,. A revised return for the correct assessment year needs to b...
As a result of the modification, the ITR forms now show "surcharges calculated before marginal relief" as well as "after marginal relief". Before this change, ITR Forms did not have to show separate effects. Earlier the Schedule DI was included in the previous ITR forms for any investment...
The taxpayers at the time of filing their income tax return (ITR) have to clear their previous tax pending to complete the process of ITR filing. Adding to this, any mistakes made while submitting self-assessment tax or advance tax during the year will also result in non-deposit of tax. ...
I was contacted by a customer this week who could not install the .NET Framework 1.1 due to a 1935 error that was not described in my previous blog posts (here and here for example). The exact error was the following:MSI (s) (E0:80) [12:44...
When calculating the capital gain income tax on a sale, you also need to consider expenses, such as brokerages. It can also be complicated to sell shares for more than one year.Q: How can I figure out Long-Term Capital Gains Tax? Ans: The difference between the price at which you ...
Below is a sample write-up that should be added to the “other information” text area in your online UK visa application. — My previous application for the UK visitor visa with GWF number {GWF number} was refused on {date}. I would like to address the reason for my previous visa ref...
An updated ITR,ITR-U, is an updated return that allows you to update/file any of your previous income tax returns under section Section 139(8A) within 24 monthsfrom the end of the relevant assessment year. ITR U is introduced to improve tax compliance by taxpayers without involving litigation...