With the increasing usage of Internet for Income Tax related work including tasks such as applying for PAN and TAN or for filing Income Tax returns, the common problem being faced by many taxpayers and assessees is how to find out their particular Circle/ Ward/ Range in which they need to file return with or are assessed with.
“Today it takes more brains and effort to make out the income tax form than it does to make the income.” This quote by Alfred E.
Estimates show that India’s old age population will increase to 113 million by 2016, 179 million by 2026, and 218 million by 2030.
Are you prepared to play safe the Second Innings of your life? With India having a rich tradition of respect and care for the elders, there is little need to diligently plan for the retirement.
Over a long period of time, there has been a constant debate over whether regular trading in shares should amount to an individual being taxed as ‘Business Income’ or ‘Income from Capital Gains’.
LIC launched its much advertised policy, Jeevan Astha with great fanfare hoping to garner Rs.25000 crore in 45 days by delivering guaranteed returns.
The official website of Income Tax department www.incometaxindia.gov.in is being revamped and modified to host a whole range of features and utilities.
Every individual investor who has a tax liability of Rs5000 and above is liable to pay installment of advance tax.
For all those income tax assessees who have filed their income tax returns for Assessment Year 2007-2008 (FY 2006-2007) last year, there are reasons to cheer if you haven’t got a income tax scrutiny notice till now.
With the first advance tax date gone, income tax payers would have to begin again the task of planning their income for the financial year 2008-2009 so that they can pay the requisite amount of remaining two advance tax installment due on 15 December 2008 and 15 March 2009.
In the forthcoming Budget, the finance minister may do away with the earlier practice of having different dates for filing Income Tax returns by individuals and corporates.
The once hugely popular investment option of Post Office Monthly Income Scheme has been losing its shine since February, 2006 primarily due to the removal of 10% bonus on maturity clause.
How to calculate tax on Google AdSense Income in India. Should I pay Service Tax or only Income Tax for AdSense earnings.
How to Calculate Your Tax Liability on Capital Gains – both long-term and short-term gains
The Income Tax Act provides for a specific way for adjustment of losses arising from sale/transfer of capital assets.
TAN or Tax Deduction and Collection account number is a unique ten digit alpha-numeric number required to be compulsorily obtained by all persons who are responsible for deducting or collecting tax at source on behalf of Income Tax Department.
With the government contemplating amendments in the pre-independence enacted Indian Trust Act, 1882, the trusts will have greater flexibility with their investment decisions.
The Finance Ministry is busy drafting the new Direct Tax Code which would be tabled in the winter session of Parliament.
The IT department is on a keen drive to increase tax collections and curb black economy.
A SEBI committee has come out with proposals for launch of Dedicated Infrastructure Funds (DIFs) by mutual funds.