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Spend carefully through credit card, stave off I-T notice
Credit cards are a useful for ease of shopping but any extravagant spending beyond your means can end up with a inco
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Dont make these mistakes, lest you get an Income tax notice
If you deposit more than Rs 1 lakh in cash at a single go towards your credit card bills, the Income Tax Department may send you a notice. Not only th
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Don't hide your moonlighting income
In your ITR, if you file your moonlighting monies under the head “Income from business and profession”, you are marking it as fees for the profess
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Govertment notifies FY24 Cost Inflation Index
Taxpayers can use the Cost Inflation Index to calculate how much tax they need to pay on sale of immovable assets after adjusting for inflation.
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What are the penalties for tax evasion in India?
If there are discrepancies in the income tax return, the income tax department may issue a demand notice
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CBDT allows authentication of records via e-verification code
So far certain faceless assessees were required to authenticate records separately through digital signature
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IT department launches dedicated emails for taxpayers’ grievances
The faceless tax system aims to eliminate physical contact between the taxpayer and the taxman to make tax administration objective and transparent.
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Government should reward individual taxpayer
The contribution of the individual taxpayer, despite all the hardships, has surpassed the corporate sector, and the government must reward this perfor
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Have queries on Income Tax refund? Write to the taxman using these two routes
The Union Finance Ministry has said that the government has taken special care this year to refund IT dues to the taxpayers
