Income-Tax

Coming in as a good news for the large number of tax paying populous in the country, the Income Tax Department will now be sending across refunds in just about 7-10 days. This move follows what we have lately seen, as to how the use of…

The season of filing Income Tax Return has arrived, and now it’s time to take up the responsibility of filing the tax return seriously. Here is a list of 5 serious errors committed by tax payers which not only affects their tax…

Don’t you dare to forget to check Form 26AS prior to filing your Income Tax Return. Form 26AS, a consolidated tax statement, is issued to PAN holders. Also referred to as Annual Statement or Tax Credit Statement, it has every tax…

I have long wondered why our government doesn’t use some PAN-based information for finding out financial status of individuals. The tool would not only simplify the taxing procedure but would also help in quick tax redressal. As per…

An official from Income Tax department has stated that a new methodology would be soon adopted by the Govt., which will enable issuance of Permanent Account Number (PAN) within 48 hours flat. As of now, it usually takes 15-20 days…

There are so many people that ask me this questions – Why should I file my Tax returns, if I have already paid my taxes. Infact, many wrongly believe that there is no need to file the tax returns at all. This is a completely wrong…

Finance minister Pranab Mukherjee has proposed new tax slabs for the so called ‘aam aadmi’  in the Union Budget 2010. The tax slabs have been revised upwards for various income groups and thus providing windfall gains to middle and…

I was very surprised to see the survey published Juxt Consultant on Non Resident Indians. The survey gave details on the earnings of Indians based abroad (Non Resident Indians). The people covered were mostly residents in UK, US...