Procedure for Submission of Form No.60 Who Does Not Have PAN

DGIT(S)/ADG(S)-2/Form 60 Digitization/151/2018 Government  of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 1 of 2018 New Delhi, 5th April, 2018 Procedure  for  submission  of  Form  No.  60  by  any  person  who  does  not have  a Permanent Account Number and who enters into any transaction specified  in … Read more

CBDT Releases New ITR Forms for A.Y.2018-19

Central Board of Direct Taxes has released the new Income Tax Return (ITR) forms for A.Y. 2018-19. The notification no.16/2018/F.No.370142/1/2018-TPL has been published in this regard on 3rd April,2018. The excel and java utility is yet to be released. We will update you whenever there is any update regarding ITR Form A.Y.2018-19 utility. You can … Read more

Tax Calendar F.Y.2018-19 – Due Dates GST & Income Tax April 2018

Tax Calendar 2018, Income Tax – GST Deadlines: Find all the income tax & GST due dates, last dates, deadlines for the period from 1-4-2018 to 31-3-2019 (F.Y.2018-19). The due dates includes all TDS Returns, TDS Statements, income tax returns, income tax payments & TDS certificates along with form name and period. The assessee can … Read more

16 Major Amendments of Income Tax for A.Y. 2018-19

Here is the beautiful infographic showing 16 major amendments in Income Tax Applicable for A.Y. 2018-19 from 1-4-2017 to 31-3-2018. You can bookmark this page or save image in your desktop or mobile to get instant access.

You Must Do These Things Before 31st March 2018

31st March, 2018 is an important date to remember for individuals and taxpayers in India as it is the deadline for completing all financial obligations. It must be noted that the return of income tax payer will not be processed if Aadhaar is not linked to PAN. However the deadline for linking of Aadhaar with … Read more

Penalty for Late Filing or Non Filing of Income Tax Return

The last date to file income tax return every year is 31st July or 31st September. You must file your income tax return within due date. Now the questions is if you are not filing your income tax return within due date how much penalty or interest you have to pay. Here we will discuss … Read more

10 Significant Features of e-assessment Framework – A new mechanism

The CBDT has issued instructions dated 12 February 2018 in relation to conduct of e-assessment. Emanating from the earlier instructions dated 29 September 2017 as well as the current instructions. 1. Enquiry in Eloctronic mode Enquiry before assessment in terms of section 142(1)(ii) of the Income tax Act, 1961 (Act) shall be issued in electronic … Read more

Cabinet Approves New Accounting Regulator – NFRA

Cabinet approved today Fugitive Economic Offenders Bills 2018. The bill will be presented in Parliament in the next session. The cabinet has also approved establishment of National Financial Reporting Authority. Here is the press released by GOI on 1st March 2018. Press Released (Dt. 1st March 2018) Cabinet approves Establishment of  National Financial Reporting Authority … Read more

Know Your PAN by DOB, Name & Mobile 2018

Sometime you find difficulty to find your PAN number i.e forget your PAN number, lost PAN number and want to know PAN online by one click. So you can do this only by entering your date of birth, sir name and mobile number. It is a service itself provided by income tax department officially. Here … Read more

How to Apply for Voter ID Card online – A Step by Step Guide

For a country like India, Voter ID card serves as an important document of identification. Irrespective of whether you are buying a new sim card or buying a house, Voter ID card is a must. The Election Commission of India (ECI) has recently simplified the process to register for Voter ID cards by taking the … Read more

4 Aadhar Linking Deadlines That You Shouldn’t Miss

The Government of India has been constantly focusing on using Aadhar Card as a comprehensive tool for identifying individuals. Be it your mobile number or your bank account, now everything needs to be linked to the Aadhar number before the given deadline. For people who are unaware of the exact date, here is what you … Read more

Filing of Tax Audit & ITR (AY 2017-18) Due Date Extended

Income Tax Department has extended the due date for filing of income tax return (ITR)/Tax Audit Report for the assessment years 2017-18 (Finanican Year 2016-17) from 31st October 2017 to 7th November 2017. The notification has not yet published by the department. Income Tax Department has tweeted about it. The order no. F.No.225/270/2017/ITA.II has also … Read more

Income Tax India: Over 14000 Properties of Rs.1 Crore Under Scanner

The page is exclusively for updates of Income tax India like Income tax news, income tax notices, income tax notifications, income tax circulars and all updates on one page. You can bookmark this page to visit daily. You can also subscribe your email ID to get free tax updates directly in your email Inbox. Income … Read more

Important Websites for Tax Payers & Tax Professionals

Here is the list of all important websites links which are useful for tax payers and tax professionals. Website Website Name Link  GST  Official Website of GST www.gst.gov.in GSTN Goods and Service Tax Network www.gstn.org CBEC Central Board of Excise and Custom www.cbec.gov.in Service Tax  Service Tax  www.servicetax.gov.in Income Tax Income Tax India www.incometaxindia.gov.in Income … Read more

Tax Audit Limit for Businesses & Professionals A.Y.2017-18

In this article, we will discuss about compulsory tax audit of accounts for A.Y.2017-18. You can find here tax audit limit for businesses, tax audit limit for professionals for assessment year 2017-18 and previous years. Some visitors have lots of confusion about tax audit limit for A.Y. 2017-18 and A.Y. 2018-19 because there are lots … Read more

Depreciation Rates Chart under Companies Act 2013

Rates of Depreciation under Companies Act 2013 Depreciation Rate Chart – as per part “C” of Schedule II of Companies Act, 2013 after making following assumptions: The useful life to computer depreciation of the asset has been taken as per Part C of the Schedule II The residual value of an asset has been taken … Read more

9 Easy Steps to Calculate Your Tax Liability

Here are 9 very easy steps to calculate your taxable income and income tax on taxable income. The persons who are confused to calculate their tax for A.Y. 2018-19 & A.Y.2017-18 should read the following article to calculate your income tax very easily with step-by-step guide. If you have any doubt regarding the calculation of … Read more