A new electronic filing facility is available for new ITR-1 and ITR-4 forms for the FY 2023-24 Calculation of Advance Tax for A.Y. 2024-25 Now you can send any document or PDF file via Whatsapp or e-mail from the Print Preview of Reporter Return Forms, 26AS, Acknowledgment, Computat...
Almost in every country the accounting rules differ from the tax laws and regulations. Sometimes, these differences are really significant and accountants must make lots of adjustments to their accounting profit in order to arrive to the basis for calculation of income tax. In order to understand ...
One of my friends called me in a worrying voice telling me he had received anemail from Income tax departmentwithsubject “Intimation U/S 143(1) for PAN ABCxxxxx4A AY:2019-20”. As with most of us, any communication from taxmen makes us worried and it was not much different for my ...
For example, if your gross income is Rs 7 lakh and you invest Rs 1 lakh in an instrument that offers deduction, your total taxable income reduces to Rs 6 lakh. So for FY 2012-13(AY 2-13-14), your tax liability from 72,100 Rs after accounting for deduction, comes down to 51,500 ...
As we approach the end of financial year, employer wants to make sure you did what you declared as it impacts the tax calculation. So it asks you to submit proofs for income tax saving investment that you made, rent receipts along with any other documents.Once the proof is submitted the ...