Taxpayers who falsely claimed for a HRA allowance received income tax notices. Income Tax Notices: By sending notices, the Income Tax Department is pursuing hundreds of individuals who have claimed housing allowance. Some individuals also receive heavy penalties as punishment. The action plan has started to be carried out by the income tax department in …
Very Important Update Related to ITRs from AY 2023-24- Tax Dept issue on FAQ related to Discard ITR The Income Tax Department portal now features a “Discard ITR” option for unverified Income Tax Returns (ITRs), applicable for belated, original, or revised ITRs under sections 139(1), 139(4), and 139(5) starting from Assessment Year (AY) 2023-24. ‘Discard …
INCOME TAX SLAB FY 2023-24 (Assessment Year 2024-25) for INDIVIDUAL Tax Department given key services within specified timelines mentioned below : Income tax slab rates for FY 2024-25 (AY 2025-26) The income tax slab rates for FY 2024-25 (AY 2025-26) as per the provided chart are: New Tax Regime Slabs INR 0 – INR 3,00,000: …
Income Tax Return Form ITR 1 & ITR 4 notified for AY 2024-25 Central Board of Direct Taxes notified Income Tax Return – ITR 1 & ITR 4 for AY 2024-25 / FY 2023-24 vide The Central Board of Direct Taxes Notification No. 105/2023-Income Tax Dated: 22nd December, 2023. The post also states that the …
Is deduction u/s 54 & 54F of the Income Tax Act be claimed simultaneously? Under Section 54 & Section 54F investment in residential house has to be made within a period of 2 years from the date of sale of respective capital assets. A longer period of 3 years is available if you go for …
Income Tax New Functionality: “Know Your Income Tax Refund Status” Which will helps in checking status of pending refund without login on income tax portal CBDT: Income tax refunds of over INR 1,00,000/- Cr issued this FY Central Board of Direct Taxes announced on Wednesday that taxpayers have received refunds totaling Rs 1,02,952 crore in …
www.carajput.com; PAN Online PROCESS FOR ACQUIRE PERMANENT ACCOUNT NUMBER CARD There is 2 way to get PAN Card.i.e. National Securities depository Limited (NSDL): www.tin-nsdl.com UTI infrastructure technology & services ltd. (UTIITSL)::www.utiitsl.com OFFLINE PROCESS OF PAN APPLICATION Download the application form from the NSDL/UTIITSL website. Complete the form, and attach the supporting documents for POI/POA. Submit …
Complete Understanding of ITR Filing For F&O (Futures And Options)Traders While trading in futures and options on stocks, currencies, and commodities is taxed, many small traders fail to declare their losses from F&O trading during ITR filing due to a lack of awareness and understanding. Let’s look at the most important things to keep in …
Q.: What deductions are allowed and which are not allowed for NRIs? An NRI is entitled to a 30% basic deduction, a deduction for property taxes, and a deduction for interest on mortgages. A deduction for principal repayment is also permitted to NRIs under Section 80C. NRI can also deduct stamp duty & registration fees U/s …
NEW UPDATE FOR FY 2022-23 – New ITR forms for AY 2023-24 ITR forms 1-6, ITR-V (verification form), and ITR acknowledgment form are made public For AY 2023–24. For the FY 2022–2023, if you got any income from cryptocurrencies or other digital assets, You must do so using a unique schedule found in the new …