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Faster, easier and secure gateway to e-file income tax return


Facts on Why Every Start-Up Should e-File Income Tax Returns

Embarking on a start-up is exciting and equally challenging at the same time. Start-ups are gradually changing the corporate face of India by not only modifying the conduct of business but also the manner in achieving positive results. Managing a start-up however required count

By AllIndiaITR - 8/18/2017
Top 5 reasons for Good Bookkeeping

Top 5 reasons for Good Bookkeeping

The whole point of starting a business entity is to see it succeed. As a business owner, you might have the right set of contacts and tools to execute your plan but if you do not have a good and consistent bookkeeping then it might affect your business.

Will GST make the trading of goods and services easier?

Will GST make the trading of goods and services easier?

The Goods and Service Tax is one of the greatest tax reform in India since independence. It will be levied on both goods and services. GST has subsumed all the indirect taxes like VAT, Excise, Service tax etc. GST will impact every business irrespective of its size. The benefit

Top 5 reasons for Good Bookkeeping

Top 5 reasons for Good Bookkeeping

The whole point of starting a business entity is to see it succeed. As a business owner, you might have the right set of contacts and tools to execute your plan but if you do not have a good and consistent bookkeeping then it might affect your business.

IGST Act in India

Under the GST regime, a “dual GST” model has been introduced keeping in mind the federal structure of India. Instead of levying different type of taxes by both the center and the state, GST will be levied on ever

GST Refund Policy in India

After the successful implementation of GST all over the country, it is time to understand the various compliances of refunds under its regime. Timely refunds are of greater importance under GST because it will facilitate trade through the release of blocked

Advantages of GST for Citizens and the Country

GST i.e. Goods and Services Tax as the name suggests is the tax levied on the supply of goods or services or both in India. The Goods and Services Tax will provide the much-needed stimulant for economic growth in India by transforming the existing base of indirect taxation towards the free

The Responsibility and Enrollment of a GST Practitioner in India

Goods and Services Tax, popularly known as GST has always been the talk of the town. GST was successfully implemented on 01st of July 2017. GST was launched to overhaul the entire Indirect Tax Regime of the country and t

How has GST Impacted the Import Sector in India?

Under the new GST regime, both the imports and exports of goods and services in India would be treated as the supply of goods or services within the course of inter-state trade and commerce and they will attract IGST. Article 269-A of GS

Method for Verifying if your Aadhar is linked with PAN

The government of India, under section 139AA has made it mandatory for an individual to link his/her Aadhaar Card to the PAN from 01st of July 2017. The Income Tax Department has notified that, “Every person who has been allotted PAN as on July 1, 2017, and who in accordance with the provis

What happens if you miss the deadline for filing Income Tax Returns?

Every year, individual taxpayers are required to file their income tax returns by July 31st. This date is known as the due date of filing of income tax return. The government of India may also extend this due date as they deem fit. For the FY 2016-17, the deadline to file the income tax return wa

Types of Income that are not taxable

In India, the Income Tax department is vested with the power of collecting the tax under the rule of tax law and guidance framed by Parliament of India. As per the Income Tax Act, 1961 there is some specific kind of income that is excluded in "total income" consequently they are not sub

How Leave Travel Allowance Help Save Taxes for Salaried Employees

You must realize that there are a few personal expenses on which you can get tax exemptions. These expenses likewise get deducted from your pay structure. You should cross-check this with your HR division. If you have to make your expenses tax free then you are required to furnish the genuine bil

Will Input Tax Credit be Retained in GST transition?

GST is a comprehensive tax structure to the cascading effect of various taxes like central excise duty, service tax, sales tax, entertainment tax, luxury tax, additional customs duty etc. Taxpayers who are already registered under VAT or service tax are also required to register under GST. Everyo

Impact of GST on Restaurant Bills in India

If you have visited a restaurant or a café after the implementation of GST you would have noticed that the bill looks different from how it looked earlier. GST has substituted almost 17 indirect taxes and 22 cesses. As per the National Restaurant Association of India 2013 the India’s

Advantages of filing Income Tax Return (ITR) on Time

Income tax is a tax which is levied by the government on the financial income of individuals within their jurisdiction. Every individual, every year must file an Income Tax Return to know whether they have any tax liability or they are eligible for any tax refund. The government uses these funds

The Amendments in Income Tax Filing in 2017

To simplify tax filing process and to reduce the burden of taxation on the taxpayer, the Central Board of Direct Taxes (CBDT) has made several changes in the tax filing process of the year 2017. The changes which will be applicable from Financial Year 2016-17 are as follows:

How to Prepare and File Income tax returns

Every person whose income surpasses the basic exemption limit is required to file income tax returns (ITR). Many believe that filing ITR is an additional responsibility, but in reality, it is not so. Income tax return is the announcement of your income from different sources of income, details of

How to e-Verify Income Tax Returns on your own

Income Tax Return filed by the taxpayer is not regarded valid until the point it is verified by the taxpayer. In the current procedure, the taxpayer can check the return utilizing Digitally Signed Authentication or by sending signed ITR-V to Centralized Processing Centre. According to Rule 12 vid

How GST can impact various sectors

GST has been implemented from 1st July 2017. With the introduction of GST, most of the indirect taxes will be replaced by “one nation one tax” regime. GST council has proposed four different tax slab rate of 5%, 12%, 18% and 28% on the different category of goods and services. The ful

What is nil income tax return? Why one should file nil returns

At the point when your taxable income is below the exemption limit your tax liability comes to zero and hence you are not liable to pay any tax. Along these lines, income tax return having tax obligation as "Zero or nil" is known as a nil return. At this point, numerous a times, people

Things to remember while claiming Income tax refunds

Most of us know that every individual whose income is more than the essential exclusion limit is required to file their income tax returns (ITR). A lot of people think that filing ITR is an extra responsibility but it is not so. Income tax return is the declaration of your earning from various so

Things first time income tax return filers must know

Filing income tax has always been a difficult affair for many. The situation becomes all the more dreading when he is filing it for the first time. People become very excited when they get their first paycheck, start looking for the ways to spend money. Some end up spending their entire earning a

How will GST impact different industries in India?

Undoubtedly, GST is one of the biggest reforms in the history of indirect taxes in India. It has come into effect from 1 July 2017. In this tax regime    four different tax slab rate of 5%, 12%, 18% and 28% for different goods are provided. The full-fledged impact of GST in real te

How will GST impact Retail Sector

Retail sector is an integral part of India's economic system. It is one of the booming sectors, which works across all kind of industries. Retail sector is responsible for providing goods and services in an effective way to consumers.  Therefore, its positioning in the present system nee

Discussing HRA for a common employee

HRA or the House Rent Allowance is a sum paid by the employers to employees as a part of their compensations. It furnishes representatives with tax cuts for what they pay towards lodging each year. The choice of what amount of HRA should be paid to employees is made by the employer in view of spe

How can you save taxes through fixed deposits?

A fixed deposit can be defined as a financial instrument which offers the depositors more noteworthy returns than the savings account. Fixed deposits might require the opening of a different savings account. Fixed Deposits offer market driving returns, and have an easy opening and support system.

What are the Types of Returns that can be filed under GST?

A return is a statement which is filed by the taxpayer as per the law with the tax administrative authorities. GST return can be filed both online as well as offline. Under this new tax reform, a registered taxpayer shall file GST return at GST common portal. There is common e-return for Central

Essential forms and documents for filing income tax returns

It’s the tax season and everyone is busy filing their taxes. Things have become a lot easy with the introduction of e-filing.  Now you can file taxes from the comforts of your home. Despite the advent of technology we see a large number of income tax rejections. Wrong selection of form

All you wanted to know about claim deductions under section 80TTA

Before solving the puzzle around deduction under section 80TTA, we first need to understand what this section is all about. Savings account is one of the most convenient and the most popularly used accounts in our country. In order to encourage the small savings, the Government of India, started

Decoding Income tax return for super senior citizens

Every financial year, Indians with taxable income, or even without, are required to pay income tax and even those in their 80s and above are not exception. But for them the rules are little relaxed and they can file ITR online as well as offline. Super s

A step by step guide to GST registration in India

Goods and Services taxes (GST) has been implemented across India from 1 July 2017. Any representatives or business entity that is right now enrolled under any current tax administration is required to get enrolled under GST. GST registration is required from each specialist and proprietor who is

GST rollout in parliament to be a star-studded ceremony

The Goods and Services tax which is billed as one of the biggest tax reforms in the history of independent India will come into effect with a special session to be held in central hall in parliament where some of the legends like iconic actor Amitabh Bachchan, famous singer Lata Mangeshkar and in

What is EVC and how is it important for verifying ITR

EVC - full form electronic verification code - is an electronically generated code. It is a one-time password sent to the mobile number which is registered for filing the return online. The verification code provided will be a ten digit alpha numeric number. Any electronic verification code which


Goods and services tax is a new form of taxation that has been planned to be adopted by the government of India. It is expected to be applied from 1st July 2017. In this kind of tax reform, many of the taxes will merge and form a single tax known as GST. GST is an indirect tax on manufa

Know the basic features of GST laws before rollout

The GST law is India’s biggest and most anticipated tax reform in recent history. It aims to improve compliance, consolidate a trove of central and local taxes, create a level playing field for businesses and increase the governments’ revenue. In fact, it is estimated that the impleme

Demystifying the debate over tax on agricultural income

Recently, Bibek Debroy – an economist in the NITI Aayog (the think tank of the Indian government) – suggested the taxation of agricultural income to widen the tax base and raise greater revenue for schemes in the social sector. He added that the threshold for agricultural income would

CBDT revises scrutiny notices to reduce visits to I-T offices

The Central Board of Direct Taxes has revised scrutiny notices allowing taxpayers to deal with tax personnel over internet, thus reducing the need to visit income tax office significantly.

The revised format is related to three types of notices that income tax department issues under se

Advantage of e-filing ITR through app

Today, a smartphone can do several things. It can wake you up from your deep slumber, it can pay your bills, it can recharge, it can shop, it can buy medicines, it can bring the world’s news at your fingertips and it can also file your income tax return!

Yes, it comes as a relief

Income tax deduction on education loan under 80 E

For most of the people a part of the money earned goes towards paying Income tax to the government. As it is impossible to avoid the payment of taxes on the income earned by the individuals, there are certain deductions available on the taxes paid by the tax payers. Education loan is such an inst

Tax e-filing tips for the self employed

A self-employed person is defined as an individual who does not earn a fixed income from a company/organization. They are hired on an assignment or a contractual basis for their intellectual or manual abilities. Taxes have to be paid on all income from different clients and all earnings are to be

Key Benefits of Filing Income Tax Returns on Time

An income tax return (ITR) is a proof that an individual has paid income tax and helps to establish a record of the same with the income tax department. In India, the Income Tax Act (1961) states that an individual with gross total income (i.e. total income prior to deductions available under cha

An NRI’s Guide to Tax e-filing in India

The Indian diaspora is quite big and lives across different countries worldwide. But despite prospering in different countries worldwide, they are still attached to their roots in India and some of them are having properties and business in India. Also called non-resident Indian they give a boost

Have you got an income tax notice? Here is how to deal with it

Getting income tax notice is a harrowing experience for most of taxpayers. But you don’t need to panic as there could be various reasons for it. What you need to do is to find reasons and take remedial measures. But before you proceed further know what an income tax notice is?

Government Appoints Amitabh Bachchan to Promote GST

Ahead of Goods and Services Tax (GST) rollout, the government has roped in Bollywood megastar Amitabh Bachchan to promote it. The goods and services tax will be implemented from July 1.

The Central Board of Direct Taxes will appoint this legendary actor as the brand ambassador of GST. A

How GST will affect FMCG sector in India

With the introduction of GST, Fast Moving Consumer Goods (FMCG) sector is likely to get the huge benefits from it. The quick moving FMCG sector of India includes more than 50 percent of the nourishment and drink industry and another 30 percent from individual and household care products, along co

GST rollout from July1, deadline of filing returns under GST extended

Amid speculations about tech preparedness for the rollout of Good and Services Tax (GST), the GST Council has decided to implement this new tax regime from the midnight of June 30- July 1.  However, the council has given relaxation in time table and exemption from penalties for filing return

Benefits of GST for Different Stakeholders

GST is a single indirect tax for the whole nation. It is the biggest taxation reform in India. GST will replace the different taxes at central and state level that include central excise duty, additional excise duty, service tax and stat VAT, entertainment tax etc. The implementation of GST will

Update bank account and address for income tax refunds

After filing income tax people get relaxed and start waiting for the refunds which you are supposed to receive from the Income tax departments if any. Nothing is better than getting even a small amount of refunds from your paid tax. Getting a tax refund is like getting a brand new salary cheque.

How to make corrections in Challan and make payment

Section 200 of the income tax Act, said that it is the duty of the deductor to pay deducted tax within the stipulated time. Income tax department has made a system named as online tax accounting system (OLTAS). Under the system, the physical Challans of all direct tax payment received from the de

GST Registration window closes on June 15, reopens on June 25

As all of us are aware of the implementation of GST in India for the first time, the businesses are required to get registered with the GST portal. If you are late and have not got yourself registered with the portal yet, you should not worry as here is a golden chance to get enrolled for GST. Th

What to do in case of income tax return rejection

Have you ever faced a situation where your ITR has been rejected? Yes, ITR can be rejected by the Income-tax department. This can happen in a situation where the ITR is either not signed, or it may be of a poor quality.  As it is a very common situation most of the people look for steps to b

Expert’s tax saving tips for every working couple

Under Income Tax Act, 1961, the government of India imposes a tax on every individual whose income is taxable. The Income Tax is the key revenue generator for the government.  

Every individual pays a certain amount to the government for the particular financial year. Levy of incom

How GST Will Impact To Middle Class

Goods and Services Tax will bring a reform in the indirect tax regime of the country. It is a noteworthy step in unifying all indirect taxes and removing the cascading effects of the tax burden on the common man. By blending a number of Central and State taxes, GST will remove double taxation and

Impact of GST on hospitality sector

Goods and Services Tax (GST) will bring a great impact on all sectors of the society. This will be seen more impressively in the case of hospitality and tourism sector. Last year, Indian hospitality and tourism industry was pegged at US $136.2 billion. This year, it is highly unpredictable with t

Possible Reasons for Your Rejection of Income Tax Refund

You may be waiting for a tax refund but you are disappointed because your refund wasn’t processed. Though many returns are processed within a month’s time, simple errors can delay your refunds. With the introduction of e-filing of income tax returns, tax filing process has sped up and

Love Gifting?  How to Gift Without Paying Taxes?

Usually, people express their love and fondness through gifts. We all love to receive the gifts. We celebrate various festivals attend marriage ceremonies and giving or receiving gifts is the inherent part of it. However, most people are not aware of the tax implication on gifts. They are not awa

IT Department announces new rules for capital gains tax exemption

The income tax department has announced new rules for capital gain tax. The notification says that capital gains tax will be issued on equity transactions if securities transaction tax (STT) was not paid on them.

The income tax department said that employee stock option, foreign direct

Are your aware of recent changes in ITR Forms?

For Financial year 2016-17, the income tax department has released income tax return forms with many changes. This is done to simplify the tax filing process and free taxpayers from the burden of compliance. The Income Tax Return forms that have been released will be applicable on income earned f

Telecom operators urge cut in GST rates, write to finance ministry

The Cellular operators have approached the government for reduction in the 18 percent GST rates.  Their industry body Cellular Operators Association of India (COAI) has said that reduction in GST rate is important as the industry’s financial condition is not good. In a letter sent to t

World Environment Day 2017: How to make Earth a better Place

We are gifted with valuable resources given by the Mother Nature.  And it our duty to save environment, so that it can remain worth livable and we can give a better place for generations to come. To mark common issue in the way of a better environment we celebrate 5th June as World’s E

Got the Tax Due message while filing ITR?  What to do next?

With the income tax department scrutinizing every individual for taxes, it is mandatory for every earning individual to pay income taxes on time. Keeping in mind the tax burden on income tax payers, the income tax department has provided adequate provisions for taxes due.

When taxpayers

Linking PAN to Aadhar Card: Benefits and How to do it

What is a PAN Card?

PAN refers to Permanent Account Number. A PAN (Permanent Account Number) card comprises of a 10 character unique code. The Income Tax Department allots it to each taxpayer. The card serves as a universal identification key, making it convenient for t

Should I File ITR on My Own or Take Expert Assistance

Filing Income tax returns has always been a hard nut to crack for many. Every year crores of taxpayers face a dilemma whether they should file ITR on their own or seek expert assistance. The income tax department website has simple steps where one can file ITR on his/her own. However the governme

How to save taxes on investment via children

Most taxpayers are looking for indirect methods to save taxes. Investing in one’s own assets in your own name will make you liable to more taxes and increase the tax bracket. One way out to save taxes is by investing on children and parents. Investing in your children’s name or parent

Looking to link Pan with Aadhaar? Do it through SMS

Those who have not linked their Aadhaar with their Permanent Account Number (PAN) can now do it easily as income tax department has given a facility to do it through SMS.

Advertisements regarding the same has been given in the leading national dailies. Now Aadhaar and PAN can be linked

GST Council Finalises GST Slabs: Know Different Slabs of GST

Goods and Services Tax is going to bring about an economic revolution in the country. Finance Minister Arun Jaitley along with GST Council has finalized the four slab tax structure for goods and services in the country. Mr. Jaitley is confident that GST will not be inflationary and the rates will

Common Mistakes Made While E-filing And Their Solutions

Filing tax is every person's moral duty. It shows how responsible they are. As the internet has changed the way we avail services and more and more services are becoming online, we are able to do several things from comforts of our homes. And filing income tax is one such thing we often do on

Revenue Department launches Twitter handle for GST

With GST rollout just round the corner, the industry might be worried about its implementation and impact. To answer questions of the industry, the revenue department has launched a Twitter handle.

Now traders and people from the industry can ask questions about GST on the Twitter handl

GST will boost India economic growth, says World Bank

India’s economy will grow at 7.2% in 2017-18 and 7.7% in 2019-20, says a report from the World Bank. The report says that the implementation of GST will give a great boost to economy and revenue.

A leading World Bank official placed in India said that implementation of GST will re

Change your details on income tax website easily

Most of you might be registered on income tax department website for e-filing. In the meanwhile your details might have changed.  And you might be looking to update the same on the website but don’t how to do it.  At All India ITR we are always ready to help taxpayers with their <

GST Rollout: Benefits for startups and small businesses

As said by top analysts and economists, GST (Goods and Service Tax) will be the biggest tax reform in the country since independence. It is expected to bring about a massive economic change, affecting every taxpayer, especially start-ups and small businesses. It is an economic reform that will st

What will get Cheaper and What Costlier with GST ROLLOUT?

We all know about the introduction of GST, that is, goods and service tax which is expected to roll out from July 1, 2017. This will benefit as nation as a whole. The important point you need to know about GST will be announced in this section.

In the last meeting of the Know More..

How home loans save taxes?

What are home loans? Who provides it? Can you apply for it online? Do you have to pay the interests rates too?

Let us find out all the answers in the section below.

The loan taken from any financial institutions to buy a house, flat is known as home loan. It has fixed interest

Do working women need additional tax benefits?

Income tax is a tax that one is entitled to pay on the income earned. As per the legislation and income tax act of India tax exemptions are given on various economic activities such as taking a home loan, an education loan and much more. These tax exemptions not only save people from paying taxes


SME stands for small and medium enterprise. They are small firms, generally independent, with few employees. They could be a start-up or an organization ranging from as little as two employees to twenty employees. The union budget that was presented on 1 February, was like a Pandora’s Box o

Tax Benefit Every Entrepreneur Must Know About

Basically, income tax return refers to providing information to the income tax department regarding a person’s actual income and the tax that he proposes to pay to the government. Income tax is the tax that one is entitled to pay on the income earned. As per the legislation and income tax a

Anti-Profiteering Clause in GST India

The biggest tax reform in the country is only at a few months distance. As it’s expected to roll out on 1 July, several debates and discussions have been going on in both the houses of the parliament. Goods and services tax is an indirect tax that is expected to take away all forms of exist

Operation Clean Money portal launched with tax evaders under lens

Stepping up its fight against black money, the government has pledged to handle high-risk cases through enforcement action. Finance Minister Arun Jaitley launched a website on’ Operation Clean Money’ with a mission to create a tax compliant society. Through the new website, the income

Missed the deadline for filing ITR? Heres what you must do

Year after year, many people miss the deadline for filing their income tax returns. This is either due to workload or sheer laziness. Paying taxes is a necessity. But, in addition, income tax returns must necessarily be filed on the due date whether or not the tax is paid. Late filing of returns

How to know that your ITR has been rejected

Have you filed your income tax returns yet? If yes, don’t rest assured because it gets rejected at times. Only when your ITR-V (Income tax return verification), gets verified, then the tax filling process can be complete. What then is ITR-V? ITR-V is a document that a taxpayer receives from

Tax Benefits for Entrepreneurs in India

India is one of the largest tech startup hub in the world. In a move to promote startup ecosystem in the country, the Prime Minister Narendra Modi announced the Startup India Policy and the number of startups in India dramatically increased, benefitting a large number of entrepreneurs.

GST Conference to be held in Srinagar this week

The 14th GST council meeting will be held on 18-19th May’17 in Srinagar. The finance ministers of 32 states and union territories will be hosted by Srinagar.  Finance Minister Arun Jaitley will address the conference.

In this meeting, various necessary rules involved to imple

How to obtain TDS free Interest Income

Banks and cooperative credit societies are the places which we generally keep our money. It can be in saving accounts, recurring deposits or fixed deposits. There are also other schemes run by the government such as senior citizen saving scheme, PPF, NSCs, etc. However, the first thing everyone p

Mothers Day Special Interesting Gift Ideas for Your Mom

“Oh, Mother! My Mother! Your love is vital for our wellbeing;

Your love shapes the individual as well as culture.

Oh, Mother! My Mother! You possess all, you have all;

Your intelligence and strength possesses capital and strength.

Oh, Mother! My Mothe

GST Tax System To Benefit Businesses, Government and Consumers

The Government of India’s plan to bring various state and central taxes under one umbrella under GST will turn the country into a unified market that will benefit various stakeholders.    

   Goods and Service Tax (GST), which will roll out this July will

Income Tax Department launches E-Nivaran to handle tax related Grievances

The Income Tax Department has launched a special taxpayer friendly electronic grievance mechanism called E-Nivaran, where nivaran means redressal. This one-stop grievance redressal mechanism will be operated under the supervision of an officer or an assessing officer.

Before E-Nivaran,

GST to give $1 billion boost to Indian IT Industry

The Indian IT industry which is going through a bad patch, due to slowing demand, has a reason to cheer as the advent of GST regime is expected to prove a $1 billion opportunity. The two key components of the GST market are storage and security services.

The governments both at centre a

GST Impact: India’s Economy to grow at 8% next fiscal

Economic Affairs Secretary, Shaktikanta Das has said that with GST, Indian economy will grow at 8% next fiscal.

This growth rate of 8% will be compared to the current year 7.5% Gross Domestic Product (GDP) projected expansion and 7.1% of 2016-17.

Impact of GST on Indian economy and its businesses

The introduction of Goods and Service tax (GST) will amalgamate the various taxes of state and central taxes into one. At present, Indian companies have to pay at least 17 different taxes of both state and centre, if the company wants to sell its wares outside India. However, the implementation o

GST Council Plans To Fix Tax Rate Under GST By The End Of This Week

The GST Council will be aligning cautiously all goods and service rate to different slabs starting from 4th May’17 till 6th May’17. They are also looking forward to deciding the items that need to be brought under the unified tax net.

The committee comprises of officials bot

Textile industry wants 5% tax under GST

The textile industry is batting for a uniform tax of 5% on all   under Goods and Service Tax (GST), which is all set to roll out from July this year.

On 31st April’17 the Southern India Mill’s Association (SIMA) submitted a memorandum to the Union Textile Minister,

GST, a good examples of India’s economic reforms, say Norwegian envoy

Nils Ragnar Kamsvag, Norwegian Ambassador to India said that GST is a good example to speed up India’s economic reform and the world’s biggest sovereign fund, Norway sovereign wealth fund is keen to increase its exposure in India.

In a free-willing chat amid steps by Narendr

Investment that save you taxes on Income Tax Filing

As per the notification of Government of India, the filing of ITR for the assessment year 2017-18 will be a simplified ITR filing for individuals starting from 1st April. ITR-1 e-filing facility is available from 1St April till the stipulated dateline, i.e. 31st July’17.

The curre

Jharkhand Assembly Clears GST Bill

In a one day-special session held this Thursday (27th April’17) the Jharkhand Assembly paved the way for implementing GST to roll out this July by passing the GST bill.

After Telangana and Bihar, Jharkhand now became the third state to uphold GST with the passing of this bill.

GSTN Boosts Technology for Flawless Implementation of GST

Goods and Service Tax (GST) which is planned to roll out on 1st July 17 by Indian Government, clamber to finalize its technology. The aim of Indian Government is to generate as many as 3.5 billion invoices each month with this technology.

The implementation of GST is expected to give a

How to Claim TDS When Deducted but Not Deposited by The Employer

Employers deduct TDS from employee’s salary and deposit it to the tax authorities against employee’s PAN. But there are many cases when employers deduct the amount from employee’s salary but don't deposit it to the IT Department. In such cases, employees turn out to be the s

Benefits of Filing Income Tax Return by Deadline

For some it may sound like just another protocol that needs to be followed but for some it has developed to be a scary hoax that ruins their economical symbiosis and moreover creates a lot of complications. However, if any earning individual earns above the specified income threshold then it is m

How to Avail HRA Benefits within Newly Introduced Rules

Claiming HRA exemption for salaried employees will not be as easy anymore. The Mumbai Income Tax Appellate Tribunal (ITAT) has ruled that rent receipts will no longer be a conclusive document for approving house rent tax exemptions and income tax officers can now demand further proof before appro

Claiming HRA Benefit with Fake Rent Receipts Is Not Valid Anymore

House Rent Allowance is the second largest component of salary that is structured to save on taxes for individuals living in rented accommodation. If the salaried individual has his/her own house and doesn’t live in a rented house then HRA is not applicable. To benefit from this tax exempti

New 1-Page ITR Form-1 (Sahaj) Is Now Available for Filing Income Tax

The India Government has introduced a simplified 1-page ITR form for salaried individuals, which will be applicable from the current financial year. This form is now available for physical income tax filing and it is much easier to fill than the earlier 2-page ITR form. To simplify the form, some

Income Tax E-Filing Tips for First Time Taxpayers

Every year many taxpayers file their income tax return for the first time wherein many of them dread the complex process of tax calculation and filing. The online income tax filing process is much easier than physical filing process as it does not require manual calculations. For

Changes in ITR-1 Sahaj Forms to Simplify the E-filing ITR Process

Traditionally filing income tax return is regarded as a time taking process but the current government has introduced new changes in ITR form to break this myth. This change will be applicable on e-filing ITR for Financial Year 2016-17 and will come into effect from 1st April 201

How GST Will Affect the Picture Of E-Commerce Industry In India

Goods and Services Tax is going to launch by 1st July this year and businesses are getting ready to get GST compliant. GST was proposed to ease the structure of indirect taxes in India but above that, this law has many other aspects that all businesses will have to comply with. This article will

How To e-File Income Tax Returns : Filing ITR Online

Filing ITR online or e-filing ITR is the latest trend and also convenient at the same time. Most of the businesses and even the individuals are filing online ITRs these days because of the ease and time-saving it provides apart from many other related benefits. Besides, the latest mandate issued

Why Filing Income Tax Is So Important For SMEs

Most of the SMEs in a general sense feel that filing income tax is not a thing for them to follow and it has got everything to do with only the big corporates and businesses. However, they don't realise the related consequences of evading from tax returns. Besides, SMEs possess this feeling o

How To Pay Your ITR Using a Credit Card

To make India a cashless economy and to curb the generation and flow of black money, government wants every single individual to pay their ITR using a credit card. By this way, it will also be able to achieve a steep fall in the number of cash transactio

How to Get Your Tax Related Issues Resolved Before March 31 2017

It is high time to prepare for filing your tax returns as the last date to file your ITR is coming closer. However, people in general, face a lot of issues while filing ITR online, which is understandable as it’s not that easy as it looks. However,

Tax Defaulters Owing Rs 448 Crores Named In Public By The IT Department

Tax defaulters are in serious trouble as of now as the Income Tax Department has already made the list of chronic tax defaulters public on their website. A list of 29 entities has been released which together owe a total of Rs. 448 crores in taxes to the income tax department. This new move by th

4248 crore Undisclosed Income Unearthed by the IT Department

The Income Tax Department has recently discovered Rs 4248 crores as undisclosed income from the Karnataka and Goa region. This latest finding has been reported yesterday only with Income Tax officials concerned with the said region informing the media stating that 73 business groups suspicious of

Now Aadhar Made Mandatory to File IT Returns

The government on Tuesday rolled out a new mandate that says that AADHAR number is a must to file IT Returns. The said development has been announced in readiness to the Budget 2017. Also, mentioning AADHAR has been made a compulsion to apply for PAN under the newly issued official orders by the

Cash Transaction Limit lowered from 3 lakhs to Rs 2 Lakhs by The Govt

The new amendment under the latest finance bill supports for lowering of cash transaction limit from the earlier announced amount of Rs.3 lakhs to Rs. 2 lakhs in order to curb the use of black money and cash hoarding. However, during the last month in the wake of Budget 2017 important announcemen

Verification Methods Used in Income Tax Return Filing

Income Tax Filing deadline is about to reach in 4 weeks and many of the responsible taxpayers have already started their ITR filing process by now. In the ITR filing process, verification is an important method to complete to verify the assesse. The return is treated invalid unti

Restriction on Cash Transactions to be in effect from 1st April

Indian Government is all focused on curbing black money operations in India and have made many restrictions for cash transaction and tax deduction for the current financial year. In recent union budget, it was announced by the finance minister that a cap will be applicable for cash transaction fr

Last Minute Tips to Solve Tax Filing Issues by Deadline

The tax filing due date for financial years is 31st March in India and every taxpayer needs to be careful with it. Before filing tax returns, one need to finish up these tasks so they don’t face any issues with submitted returns. This article is more about Know More..

Delay in Income Tax Filing Will Lead to Heavy Penalty

The Indian government is taking many initiatives to ensure the higher volume of tax return filing by the coming assessment years. One of the notable initiatives taken is increasing the penalty rate for non-filing income tax return or delayed return filing. In finance Bill 2017, i

Educational Institutions to enjoy Service Tax Exemption from 1st April

Service tax is levied by the Government of India on certain service providers for certain services and it is collected by the service provider who later submits it to the Government. It is a type of indirect tax that a service receiver pays for receiving those services. However,

All That You Need to Know About Sales Tax

Sales tax is a form of Indirect Tax that is levied on the sale of goods and services in an economy and is imposed at the point of exchange and/or purchase of taxable items. It is not levied on the resale of the same commodities without any value-addition and is also charged on contractual work an

Basic Help Guidelines For Income Tax Return Filing

31st July is the yearly deadline for income tax filing and the calendar has already turned to March. This article is dedicated to the taxpayers as last minute tax filing guidelines so that you don’t miss out any important section. 31st July deadline is specified for salaried individuals and

Know the IN and OUT of Goods and Services Tax

Since the economic liberation of India in 1991, Goods and Services tax is one of the biggest reforms in the structure of the indirect tax system of India. GST would be the sole indirect tax to be paid from the level of the manufacturer to that of the common people, which would transform the natio

Some Changes Made in Service Tax Policy in Budget 2017

Service Tax is an indirect tax levied on certain services which are collected by the service provider and later submitted to the Government of India. The service receiver pays the amount to the service provider who further pays the amount to the government. So what has changed have been proposed

Section 80GG to Avail HRA Tax Exemption on Paid House Rent

Employee salary is made of many components in which house rent allowance is the second most important one. But the difference between other allowances and HRA is that HRA is partly exempted from tax liability. Under section 10(13A), a certain amount of HRA is non-taxable. This benefit is availabl

New Amendments in Income Tax Rules for Charitable Trusts

Budget 2017 has proposed many new amendments in income tax rules for charitable trusts and their income tax policies. For start, previously charitable trusts accepting properties or money donated by any person without consideration was non-taxable under section 56(2). Now, a new clause (x) has be

Calculate Income Tax Liability on Income from House Property

Income tax act in India allows citizens to declare only one house property to be self-occupied which will be exempted from the house tax liability. All the other property will be declared as rented property which will be taxable.  The let out properties will be considered with the concept of

The Best Tax Structure in India To Select for Startups

For startups, it is very important to have an advance tax planning before registering their business with a specific business structure. Most of the startups in India either choose to be an LLP or a PLC while registering the company. LLP stand for Limited Liability Partnership an

The Picture of Gold Investments and Income Tax Rules in India


Gold investments are becoming one of the common ways to save on income tax bracket as it also holds a traditional value in Indian’s mind. Investments in gold were previously limited to jewelry purchasing but now with the changing picture, taxpayers are more focused on i

The Income Tax Deductions You Can Avail Before It is Too Late

taxpayers must manage their income tax deductions investments before the calendar strikes the end of Financial Year. Once the financial year ends, no such plan can reduce your taxable income and you have to pay higher tax in July. There are few last-minute steps that can save a big amount of your

Income Tax Return Liabilities Possessed on EPF withdrawals

Income tax return imposed on EPF or Employee Provident Fund is an important matter of concern for the employees. There is traditional believe works on their mind that withdrawing money from EPF account is tax-free. In reality, EPF withdrawals are taxable depending on some conditions and in some c

TDS Mandatory if Rent Exceeds Fifty Thousand

TDS payment has been made mandatory for the house rent exceeding INR 50,000 a year and this will applicable for a metropolitan city. The TDS need to be deducted by the rent payer on behalf of their landlord. This decision is the result of current government’s focus of widening the tax net b

Tax Saving Funds Can Save Bigger on Income Tax Return

The income tax return filing date is ticking the calendar and taxpayers are getting more calculative to save more on that.  Tax saving is always a big matter of concern for the Indian taxpayers and investments are the usual way to fulfill that. Previously, investments were mostly made into f

Changes in Indirect Taxes to Be Imposed in Union Budget

What is a PAN Card?


PAN refers to Permanent Account Number. A PAN (Permanent Account Number) card comprises of a 10 character unique code. The Income Tax Department allots it to each taxpayer. The card serves as a universal identification key, making it

Some Complications And Myths Coming On The Way Of GST Transition

Much-anticipated Goods And Services Tax will be in action by 2017 and businesses have started to prepare for this "One-India" process. Although, the transition process has started but has many challenges that businesses are facing at the moment. The transition process is huge and w

Why GST Will Be More Helpful For The Startups!

GST rates are the new discussion point in the nation and everyone wondering about is how it will get gel-into the Indian business system. Well, according to the recent analysis reports, this system will ease business structure and will attract more foreign investment into the sector. Where all th

Startups Will Enjoy 100 Percent Income Tax Benefit for Some More Time

Indian Government is all focused on curbing black money operations in India and have made many restrictions for cash transaction and tax deduction for the current financial year. In recent union budget, it was announced by the finance minister that a cap will be applicable for cash transaction fr

The Income Tax Slab Changes Announced In Union Budget 2017

Indian’s eyes were stuck to the clock this morning to know the Union budget for the coming fiscal year. Many new schemes were announced for farmers, women and senior citizen, but the biggest topic that covered all limelight was the income tax relief offered for the salaried citizens. There

Now PAN Card is Mandatory for All Type of Bank Accounts

The Indian financial system is experiencing various changes in the last few weeks, which are much related to income tax filing and related mechanisms. The current situation is more focused into eradicating corruption from the financial system which requires more authentication sy

ATM Withdrawal Limits are Going To Be Removed From 1st February, 2017

From the last few months, people have been through a difficult situation with obtaining cash in regular ways. It has been quite a few years that Indians are addicted to the ATM culture and withdraw cash only from ATM whenever they needed. This culture was mashed by the demonetization hitting the

Amendments to Restrict High Value Cash Transactions

Indian Government is introducing new income tax rules to minimizing the chances of black money accumulation by the Indians. Still many people in here do not assume paying income as a mandatory citizen duty and thus try to find out new ways to escape tax payments. This black money accumulation aff

The Maximum Income Tax Relief An Indian Taxpayer Can Get Is INR 14,806

The most attractive announcement made in the Union Budget 2017 is reducing the income tax rate from 10% to 5% for the tax slab of INR 2.5-5 lakhs. This has caught the importance as most of the common taxpayers in India falls under this category.

Now, talking about other higher tax slabs

Some Less Discussed Yet Important Facts About GST Rates

Goods and Services Tax is the new topic of discussion these days as it is shortly going to transform the Indian taxation system. Though many discussions are going on, yet many do not know about the exact proposed tax slabs attached to this system. Currently, we are paying double taxes while purch



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