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...
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. ...
What is Updated ITR return? 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 taxpa...
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...
Kalpana Mali, a determined woman from a small village, became a successful entrepreneur with the help of fintech innovations. She will speak at the Global Fintech Festival, highlighting how fintech can empower women like her to grow their businesses. | f
Inventory turnover ratio (ITR) Your ITR refers to how often the business sold and replaced inventory during a set period, usually one year. Calculating ITR can help you make informed decisions on merchandise pricing, discount marketing, and inventory purchases. The formula for calculating ITR is:...
Specifying the type of house property: While providing details of your house property in ITR-1, 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...
If you are eligible, you can fill out an online form on the official website of ICAI and get a registration number, user ID and password. After the registration, you have four months to prepare for the foundation exam which is held twice a year- one in May and another in November for...
The Korean Embassy has partnered with BPI and BDO to make it easier to get a tourist visa without submitting ITR or bank documents. This promotion for Korean Tourist Visa application is available for select cardholders for free! So if you have any of the following cards, then take advantage...
Revised return ,typically, means making changes in your original return that is Assessment Year and ITR remains the same. 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...