Calculating the tax liability and submitting the payment to authorities before the due date is known as advance tax. The taxpayer is required to payadvance taxwhen his estimated liability for the fiscal year is more than Rs 10,000. The government has released a list of due dates for the pay...
In above given problem a part of consideration has been received through banking challan. For calculating Capital Gain Tax, we have to consider Full Value of consideration at the time of Agreement that is Rs. 2.00 Crores or Stamp Duty Value in February,2021 whichever is more (on the assumptio...
In India, taxpayers have two options for paying direct taxes to the Income Tax Department – physical and e-payment modes. In the physical mode, the taxpayers can make the payment by producing the authorized bank’s challan’s hard copy. Whereas, in the case of the e-payment mode, the t...
Step 1: Visit the bank branch receipt where the tax was deposited and carry the original challan receipt with you. Step 2: Ask and fill up the request form for tax correction. Submit a duplicate copy of the same to the related bank branch. Step 3: Submit the original challan counterfo...
Understanding Form 16: Tax on income Understanding Form 12BA How to agree to income tax notice under 143(1)(a) due to variance in income and file revised Self Assessment Tax, Pay Tax using Challan 280, Updating ITR How to file Revised Income Tax Return ITR ...
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Challan - 283 Fringe Benefit Tax Deposit FORM - 1 Undertaking under sub-rule (1) of rule 11UE of the Income-tax Rules, 1962 FORM - 2 Form for Certificate Under sub-rule (2) of rule11UF FORM - 3 Intimation for Withdrawal under sub-rule (3) of rule 11UF of the Income- tax...
In there, click on “Status of Tax Refunds” and enter your PAN number, Assessment year to check refund status progress. Track refund status in the case of Direct Transfer If you have provided your primary bank account details while claiming income tax refund then IT Department will credit...
Challan - 281 TDS / TCS Tax Challan - 282 Wealth Tax, Gift Tax, Securities Transaction Tax, etc. Deposit Challan - 283 Fringe Benefit Tax Deposit FORM - 1 Undertaking under sub-rule (1) of rule 11UE of the Income-tax Rules, 1962 FORM - 2 Form for Certificate Under sub-rule ...