Income Tax Return (ITR) is a form in which the taxpayers file information about his income earned and tax applicable to the income tax department. The department has notified 7 diverse forms which areITR 1, ITR 2,ITR 3,ITR 4,ITR 5,ITR 6, andITR 7. Using a variety of factors to ens...
The interest is calculated at 1% simple interest per month on the defaulted amount for three months. The interest penalty would continue up to the next deadline. If even after the last deadline of 15 March, the tax is not paid, then the 1% would be on the defaulted amount for a month...
What happens once I've submitted my tax return form?Posted 6 April 2022 One of the questions most asked when it comes to tax season, is “what happens now that I’ve submitted my income tax return, when do I get my refund?”’ If you’re due a tax refund then you will probably...
It is needed to do cargo loading in the officer's direction, responsible for the prevention. When the officer in charge of prevention is happy with the cargo, he issues a "Shipped on Board" confirmation on the invoice. In addition, the vessel commander gives a "Mate receipt," which ...
As per The Supreme Court of India: “a Hindu married woman is the absolute owner of her Streedhan property and can deal with it in any manner she likes and, even if it is placed in the custody of her husband or her in-laws they would be deemed to be trustees and bound to return ...
The endless river eastward flows; with its huge waves arc gone all those gallant heroes of bygone years. 二人同心,其利断金。 If two people are of the same mind, their sharpness can cut through metal. 富贵不能淫,贫贱不能移,威武不能曲,此之谓大丈夫。 It is a true great man whom no mo...
. The intermediary later files a tax return and forwards the tax proceeds to government with the return. In this sense, the term indirect tax is contrasted with a direct tax which is collected directly by government from the persons on which it is imposed. A snapshot of how much Central ...
Basic Salary: As the name suggests, this forms the very basis of salary. This is the core of salary, and many other components, ex HRA, are calculated based on this amount. It usually depends on one’s grade within the company’s salary structure. It is afixedpart of one’s compensati...
PAN, or permanent account number, is a unique 10-digit alphanumeric identity,in the form of a laminated card, allotted to each taxpayer by the Income Tax Department. PAN enables the department to link all financial transactions, such as tax payments, TDS or TCS credits, returns of income/we...
Helps in claim of tax credits and computation of income at the time of filing of return of income: This is the first check that is done in verifying your income tax return. If the tax entries don’t match Income tax dept. sends a notice. That’s why they sayview your Form 26AS bef...