Thursday, April 25News That Matters

Day: 2 July 2018

How to file Income Tax Return online – ITR 1 & ITR 4S quick e-file online – Step by step guide

Featured, Taxation
You can file ITR 1 & ITR 4S online (without using the excel ITR file). In this post, I am providing step-by-step guide to file these returns on Income tax efiling website.  As the due date for income tax is 31 July, you need to make sure that te returns are file on time. From April 2018, tax rules have changed and a penalty of upto Rs 10000 will be levied if the return is not filed on time. Also, the ITR revision time limit is also changed from 2 years to 1 year.  See details  Filing returns on Income tax wesbite is completely free and easy. Must Read -  Step by Step Guide to file Income tax returns online Things to note: Make sure that you choose right ITR form. ITR forms depends on what kind of Income you have. See my other post on Which ITR form to use? Check your Form 26AS t...

[How to] View your Form 26AS online – Check Tax Credit Statement

Featured, How to Series, Taxation
The last date for filing return is quite near (31st July). Before filing the returns, check your Form 26AS to make sure that TDS deducted are appropriately credited to your account.  As the due date for income tax is 31 July, you need to make sure that tte returns are file on time. From April 2018, tax rules have changed and a penalty of upto Rs 10000 will be levied if the return is not filed on time. Also, the ITR revision time limit is also changed from 2 years to 1 year.  See details  When your employer deducts TDS from your Salary or your bank deduct TDS on your FD Interest, they need to deposit this amount to Government against your PAN. If they enter your PAN incorrectly, you will not get credit for that TDS amount. So, It is always better to check your Tax Credit Statement (Form ...