Excess Contribution to the PF above 2.5 lakhs in one FY be taxable in next FY

It has been announced in the Budget 2021 that interest on EPF and VPF contributions above ...

Cash in Hand Balance Limit under IT Act

1. As of now, there is no prescribed limit on cash holding but transactions above Rs 2 lakh in ...

Sec269SS and Sec269T Applicability

1. As much as we understood your question (you can ask again in case it is not what you wanted ...

Gift Transactions Taxable or Exempted

1. Section 56(2)(x) provides that this section shall not apply to any sum of money or any property r...

Claiming LTA exemption in FY 2020-21

Leave Travel Concession (LTC) is an exemption for allowance/assistance received by the employee from...

Do I require any proof to claim Standard Deduction?

Standard deduction allows salaried individuals to claim a flat deduction from income towards expense...

How to file ITR 1 and ITR 4 using JSON Utillity ?

The Central Board of Direct Taxes (CBDT) has very recently released JSON Utility for ITR-1 & ITR...

What are Advance Tax Payments ?

Every assessee who has tax liability in excess of Rs.10,000 after taking the due cred...

What is Intimation under Section 143(1)?

The Government has recently introduced CPC 2.0 with the tagline of File Karo Jhat Se, Processin...

How to check Income Tax Refund status?

Filed your Income Tax Return and still not received Income Tax Refund? Continue reading this bl...

How to link Aadhaar with PAN without Income tax Login?

Under the current laws, it is mandatory to link your PAN with your Aadhaar number. Further, it is ma...

What is ITR 7 - Income Tax Return filing

ITR 7 can be used by persons including companies who are required to furnish return under secti...

What is ITR 6 - Income Tax Return filing

ITR 6 form is to be used by companies for e-filing the tax return, if they don't claim the exemp...

What is ITR 5 - Income Tax Return filing

ITR 5 is meant for LLP,  Association of Persons (AOP), firms, Body of Individuals (BOI),Local a...