tax lawyer How to change password on income tax portal using Aadhaar OTP, e-arsip OTP, DSC?

You can reset the password of your income tax portal profile using these three routes: 1) OTP on mobile number registered with Aadhaar; dua) Upload Digital Signature Certificate; tiga) Use e-filing OTP. ITR filing: How to update your profile details on the new income tax portal?

According to the government’s new income tax website, all registered users of the e-filing site can access their account after logging in to view and modify/update their profile information. Which gifts are taxable for the recipient and which ones can increase tax liability of giver

It is also essential for individuals to evaluate their transactions to check if they fall under any of the taxable scenarios covered. If yes, they should voluntarily disclose the income in their individual income-tax returns as appropriate, to ensure compliance. How to claim credit of TDS deducted by employer but not paid to govt?

If any tax has been deducted at source and deposited with the central government, it shall be treated as a payment of tax on behalf of the person from whose income the deduction was made. In other words, the credit of TDS shall be allowed to the person from whose income tax has been deducted at source. How to arsip income tax rectification request under section 154 on new e-filing portal?

Here is a step-by-step guide on how to file a rectification request on the new e-filing tax portal, as per the income tax department’s website. What are the rules of TDS deduction in Senior Citizens’ Savings Scheme

The Government of India has amended Section 194A of the Income Tax Act, 1961, and as a result, the total interest income payable in a Financial Year for all SCSS account holders under the age of 60 has been revised from Rs. 10,000 to Rs. 40,000 for the purpose of TDS deduction. Should interest accured in daughter’s Sukanya Samridhi Account be clubbed with my interest income?

Interest income earned from Sukanya Samriddhi well as the maturity amount is exempt from tax. How to get an instant e-PAN

An e-PAN holds the same value as a physical PAN card issued using the standard PAN application procedure. Tax optimiser: Swami should cut PPF investment and invest in ELSS instead

ET Wealth tells readers how readers can optimise their income tax by rejigging their income and tax attorney investments. 9 income tax saving tips that also help financial fitness

For instance, in case of a salaried individual, one can evaluate the salary structure offered by the employer and opt for those salary components whWhat is my ITR filing status if I recently shifted back to India from the US?

If your days spent in India are more than 182, it makes you a resident in India. Further, determine whether you are resident and ordinarily resident (ROR) or resident but not ordinarily resident (RNOR). New income tax portal errors resulting in reduced tax refund amounts for many

The pre-filled data fetched on the new income tax portal is showing a mismatch with the total TDS amount mentioned in Form 26AS. Even after correcting the amount at the time of filing ITR, it seems tax department is taking pre-filled data into account. How to login into new income tax portal?

​There are various methods to log into the portal; according to the tax department, there are 14 methods. A taxpayer can log in using various methods such as using Aadhaar OTP, Net Banking, Static password, and a few other methods. Money & relationships: What are the tax implications if my daughter sends me money from abroad?

Is it legally tenable to send parents money from a foreign country? More importantly, will you or they have to bear any kind of financial burden in the form of tax? Here are the rules and tax regulations governing remittances from family members who are staying abroad.

Documents needed to prove plot sold is agricultural land to avoid capital gains tax

If the land does not qualify as agricultural land, the capital gains thereon shall be taxable in the hands of an individual. How to get errors in Annual Information Statement corrected for ITR filing

Annual Information Statement (AIS) contains pre-filled information shared by various financial entities such as banks, mutual funds, stockbrokers etc. and your employer (salary income details) and tax deducted during the year if any. You can be deemed resident, taxed in India even if you haven’t spent even one day in the country: Here’s how

The recent changes in the Income-tax Act, 1961 has made an individual’s income taxable in India even he has not spent a single day in the country. Here is how that can happen. What is Annual Information Statement and how to download AIS from new income tax portal

It is important to check the information contained in the information statement to ensure that the income tax department has the correct information about you. Here are the steps to download AIS and check the information in it. ITR filing: New annual information statement accessible on e-filing portal

The I-T department had last month expanded the list of high-value financial transactions, which would be available to taxpayers in their Form 26AS by including details of mutual fund purchases, foreign remittances, as well as information in I-T returns of other taxpayers.

Tax optimiser: NPS, salary benefits can help Jain cut income tax by Rs 54,000

Up to 10% of the basic salary put in the NPS on behalf of the employee is deductible under Sec 80CCD(dua). If taxpayer Deepak Jain’s company puts Rs 85 things to know about indexation

The cost Inflation Index (CII) for every financial year is easily available on the income-tax website and is used to compute the indexation. Which ITR form to fill if I am salaried person in one firm and proprietor in another firm?

If the person is availing any presumptive scheme of taxation u/s 44AD, 44ADA, etc. for business income, then the person should select Form ITR-4 for reporting these incomes. AIS shows ALL your digital financial transactions that the income tax dept knows about

The income tax department has launched a comprehensive statement called Annual Information Statement. This statement contains most digital financial transactions carried by you in a financial year. How to correct mistakes made at the time of paying income tax

Here is a look at how taxes are paid and how to correct any mistakes made at the time of paying self-assessment tax.

Tax optimiser: Home loan, NPS can help Sharma cut tax by Rs 82,000

Sharma lives in his parents’ house and does not claim HRA exemption. He plans to buy a house this year. If he takes a home loan, he will be able to I want to transfer shares, mutual funds worth Rs 50 lakh to NRI daughter. What will be my tax liability?

Once your daughter sells these investments any time in the future, the cost and period of holding at your end will be considered for calculating the capital gain at the time of sale of these investments by her.IT Dept rolls out Annual Information Statement, providing comprehensive view of taxpayer berita

The new AIS can be accessed by clicking on the link Annual Information Statement under the services tab on the new income tax e-filing portal. “The display of Form 26AS on TRACES portal will also continue in parallel till the new AIS is validated and completely operational,” the Board said in a statement Monday.Purchased property worth more than Rs 50 lakh? Here’s how to deposit TDS amount

It is important to get PAN of the seller and verify the same with the original so that there are no discrepancies later on. Forgot to verify your income tax return? Here is what you can do

What will happen if you do not verify your ITR with the 120-day time limit; it could happen that you forgot to do so.

Form 26AS to include off-market trade, mutual funds dividends and other details

The new rule came into effect last year after the CBDT expanded the scope of information available in Form 26AS. With the latest order, CBDT has reiHow NRIs can use DTAA to avoid double taxation in India