Category Archives: Income Tax

Form 15H in word format

FORM NO. 15H[See section 197A(1C) and rule 29C(1A)] Declaration under section 197A(1C) of the Income‐tax Act, 1961 to be made by an individual who is of the age of sixty years or more claiming certain receipts without deduction of tax.PART – I1] Name of Assessee (Declareant) : 2] PAN :   3] Age: 4] Assessment… Read More »

Instructions to e-File Form 15CA and 15CB

Instructions to e-File Form 15CA and 15CBPage 2Table ofContentsRegistration process for Filing Form 15CA …………………………………………..3Filing process…………………………………………………………………………………. 3View Form 15CA …………………………………………………………………………….. 7Registration process for Filing Form 15CB …………………………………………..9Pre-requisite………………………………………………………………………………….. 9Filing process……………………………………………………………………………….. 10View Form 15CB …………………………………………………………………………… 11Instructions to e-File Form 15CA and 15CBPage 3Registration process for Filing Form 15CATo file the “Form 15CA”, user should hold valid PAN/TAN… Read More »

Business Transactions – Investment Transactions

BUSINESS TRANSACTIONS vs. INVESTMENT TRANSACTIONS The income arising from Sale of Shares/Debentures or other securities and real estate business will be determined and taxed on the basis, whether they are Capital Asset or Business Asset. It is important to determine, whether the income is generated from Capital Assets or from Business Assets and be determined… Read More »

Income Tax Slab Rates for AY 2017-18

Income Tax Slab Rates for AY 2017-18Income Tax Slab Rates for FY 2016-17Income Tax Slab Rates for Financial Year 2016-17Income Tax Slab Rates for Assessment Year 2017-18 Income Tax Rates for Financial Year 2016-17 relevant to Assessment Year 2017-18 Sr. No. Particulars Tax Rates 1 Individual – Male and Female :- NIL Taxable Income upto… Read More »

Lastest Procedure of Form 15G or 15H

Major amendments have been done in Procedure for submitting Form 15G or 15H vide Income Tax Notification No.  76/2015 [F.No. 133/50/2015-TPL] / SO 2663 (E) : Income Tax (14th Amendment) Rules, 2015 dated 29th September, 2015.   Utilities have also been provided by Income Tax Department for deductors  for generating XML Files of consolidated forms… Read More »

Download All ITR Forms for FY 2016-17

All ITR forms officially  notified by CBDT FOR F.Y. 2016-17Income tax department has issued different forms for different assessees.   Therefore, it is necessary to know which form is correct for assessees to submit Income Tax Return.  The  detail  for who can use or who can not use a particular Income Tax Form is given… Read More »

Brief Notes on Professional Tax

Brief Notes on Professional Tax / Brief Notes on PT / FAQs on Professional Tax What is Professional TaxProfessional tax is levied by particular Municipal Corporations and majority of the Indian states impose this duty. It is a source of revenue for the government. The maximum amount payable per year is INR 2,500 and in line… Read More »

Income Tax Due Dates for April 2016

7 April 2016 –Due date for deposit of Tax collected for the month of March, 2016. However, all sum collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan 7 April 2016 –Due date… Read More »

Detailed points of Residential Status

Credits:CA Abhishek MittalCA Sakshi Mittal Scope of Total Income / Incidence of Tax [Section 5]: Scope of total income is according to the residential status of the assessee. Resident and Ordinarily Resident (ROR) [Section 5(1)] The total income of any previous year of a person who is a resident and ordinarilyresident includes all income from… Read More »