That is where all online data from the IT department is processed. Your ITR must not have been pulled up for scrutiny and no rectification notice whose status is pending have been issued in your name. Q. How will my refunds be sent? There are two ways in which the refund banker may ...
After e-verification of ITR, wait for around one month to get the intimation from IT department under section 143(1). You will receive another email from IT department once your income tax return gets processed. This email is called Intimation under section u/s 143(1). The intimation as t...
Both Revising the return and rectification are similar but not same. A taxpayer canrectifyhis income tax return online if there is an apparent mistake in the return already filed. The change can be effected only after the taxpayer has received an order. Rectification enables correcting the error ...
Make sure that you have created an account in Taxumo. Uploading of the Certificate of Registration and the Signature is not necessary. What is necessary though is for you to have a subscription with Taxumo. Check out our plans and inclusions here:https://taxumo.com/pricing For those who a...
To showDividends from foreign stocks in ITRyou need to convert the value of dividends received to Indian Rupees. This amount should be the original amount without the tax deduction. For example, in our case, Bharat received 75 $ as a dividend in his account but he has to show the original...
Any sum ofmoney received as an advanceor otherwise in the course of negotiations for transfer of a capital asset shall be charged to tax under this head, if: a) Such sum is forfeited; and b) The negotiations do not result in transfer of such capital asset. ...
But if for some reason you could not submit Rent Receipts or employer did not consider it , you can claim it while filing ITR. When HRA is not accounted by employer, more TDS is deducted from salary. It may happen that may be eligible for refund if net tax paid is more due from you...
Income tax rules applying to non-residents are slightly different from those for residents. The income that NRI earns abroad is not taxable in India. But if an NRI earns income in India, in the form of interest from deposits, property rent, etc then it is taxable. This income, earned in...
The limit of 6 years shall apply to all Income Tax authorities having powers to pardon the delay including the board.A condonation application (pardon) should be disposed of within 6 months from the end of the month in which the application is received. In a case where refund claim has ar...
Full value considerationThe amount received or to be received by the seller. Capital gains are chargeable to tax in the year of transfer, even if no consideration has been received. Cost of acquisitionThe Purchase price or the value for which the capital asset was acquired by the seller. ...