Expert Knowledge,
Straight from Practitioners.
Tax tips, legal guides, and financial advice written by the same verified CAs, Advocates, and Advisors you can consult on ConsultEase.
Income Tax Informants Rewards Scheme, 2018: Reward up to Rs. 5 crore
Income Tax Informants Rewards Scheme, 2018: Reward up to Rs. 5 crore F.No. 292/62/2012-IT (Inv.III)/26 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ************ A.R. A. Centre (Ground Floor), E-2; Jhandewalan Extension, New Delhi – 110055 Dated, 23.4.2018 To
Changes in ITR for AY 2018-19
Changes in ITR for AY 2018-19 Section 139 Changes Changes in Section 139(4c) Addition to the list of section 139(4c): Persons referred in Section 10(23AAA) The beneficiary of funds established for the welfare of employees/dependents. Eg. Superannuation 2. Investor protection fund – 10(23EC) or 10(23ED)
I-T Dept warning to salaried taxpayers
I-T Dept warning to salaried taxpayers 8 common inaccuracies every taxpayer should take care of NOW: Are you a salaried person, but one of those who usually conceals a part of their income from the Income Tax Department in a bid to save tax? Then
Points to consider while filing ITR-1 for the AY 2018-19
Points to consider while filing ITR-1 for the AY 2018-19 Changes in ITR-1 The most popular one pager return is continued by the CBDT this year also. But there are certain changes regarding eligibility to file this return as well contents of this return which
CBDT warns officers against harassment
CBDT warns officers against harassment The CBDT has issued a sternly worded directive dated 16th April 2018 stating that a number of complaints are being received in the Tax Payer Services Directorate regarding harassment, misconduct and high handedness of Officers and staff. It is
Amendments in last two Budgets for Income tax return
Amendments in last two Budgets for Income tax return Amendments made in the budgets are made every year and the people always try to find the information/changes regarding them. A list of compilation is made of 20 major amendments in last two budgets for income tax
DIRECT TAX UPDATE
DIRECT TAX UPDATE A glimpse of new requirements in ITR forms for AY 2018-19 after direct tax update: 1. Additional disclosure requirements for Ind AS Compliant Companies. [Applicable for ITR 6] 2. Fees for late filing of return [Section 234F]. [Applicable for ITR 1 to
Change in the Income Tax Returns forms has become an annual feature
Change in the Income Tax Returns forms has become an annual feature Some changes are incorporated every year. Following are the change in the Income Tax Returns forms has become an annual feature For the current year, there is no change in the form number
Due Dates during the month of April 2018
Due Dates during the month of April 2018 ■ 10-04-2018- Due date for filing GSTR -1 for the month of February 2018 – Applicable for taxpayers with Annual Aggregate turnover More than 1.5 Crore. ■ 14-04-2018- Due date for issue of TDS Certificate for tax
Is Your Landlord an NRI? Let’s Understand If You Are on the Right Side of Tax Law Compliance
“Ignorance of the law is no excuse in any country. If it were, the laws would lose their effect, because it can always be pretended”. – Thomas Jefferson (1829). Indian tax laws are perceived to be the second most complex in the Asia-Pacific region, becoming
Late fees on filing of ITR after due date
Late fees on filing of ITR after due date From Financial Year 2017-18, if Return is not filed within due date, late fee of Rs.5,000 for delay up to 31st December, and Rs.10,000 thereafter. Such fee will be restricted to Rs.1,000 for small taxpayers with
CBDT releases ITR Forms applicable for FY 2017-18 or AY 2018-19.
CBDT releases ITR Forms applicable for FY 2017-18 or AY 2018-19. CBDT releases Forms Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V as applicable for Financial Year 2017-18 or Assessment Year 2018-19. MINISTRY OF FINANCE