Complete Tax Solution

INTRODUCTION:  The provisions regarding the TCS on sale of jewellery were brought on the statute by the Finance Act, 2012 with effect from 1 st  July, 2012. These provisions are contained in Section 206 (1D) of the Income Tax Act. Some related provisions / explanations are contained in sub section (1E) and Explanation (ab) also. According to these provisions, if seller of the jewellery receives sale consideration in cash and such amount received in cash is in excess of Rs.5 lakhs then the seller is required to collect TCS from the buyer @ 1% of such sale consideration received in cash. Apart from the provisions regarding TCS on jewellery, the above sub section (1D) also prescribes for TCS on receipt of sale consideration in cash in respect of bullion and other goods (i.e., all goods other than bullion and jewellery). But in respect of those other goods the threshold limit for TCS is Rs. 2 lakhs only as against the threshold limit in respect of sale of jewellery at Rs. 5 lakhs.

DOCUMENT CHECKLIST FOR TAX FILING Gather these documents to e-file your income tax returns in India. Go through this list to see the documents you’ll need to do your taxes. You won’t need all the documents listed here as they vary on a case-by-case basis. PAN NUMBER For Salaried Employees Form-16 issued by your employer Did you know that Form-16 is all you need to e-file your income tax returns on ClearTax? It’s that simple really. Got your Form-16? Start e-filing. Documents related to interest income Bank statement/passbook for interest on savings account.Interest income statement for fixed deposits.TDS certificate issued by banks and others. ClearTax automatically gives you tax benefit as per Section 80TTA when you enter your income from savings account interest. Form 26AS Form 26AS is a summary of taxes deducted on your behalf and taxes paid by you. This is provided by the Income Tax Department. It shows details of tax deducted on your behalf by deductors, det

As per section 139(1) of the Income Tax Act, 1961 in the country, individuals whose total income during the previous year exceeds the maximum amount not chargeable to tax, should file their income tax returns (ITR).

नई दिल्ली।  500 और 1000 के नोटों पर प्रतिबंध के बाद मोदी सरकार एक और धमाका करने की तैयारी में है। जानकारी के मुताबिक कालेधन पर लगाम के लिए सरकार नकद लेन-देन में सख्ती बरतने की तैयारी में है। कालेधन पर लगाम की कोशिश में मोदी सरकार राजस्व विभाग से जुड़े वरिष्ठ अधिकारी ने बताया कि सरकार जल्द ही ज्यादा कीमत वाले भुगतान में नकदी के उपयोग पर प्रतिबंध की योजना बना रही है। ऐसा माना जा रहा है कि सरकार इस फैसले के जरिए कालेधन के खिलाफ जारी अपनी मुहिम को और तेजी से आगे बढ़ा सकेगी। टीओआई में छपी खबर के मुताबिक कालेधन पर रोक लगाने के मकसद से सरकार नकद लेन-देन पर सख्‍ती की योजना बना रही है। राजस्व सचिव ने बताया, क्या है सरकार का अगला प्लान? राजस्व सचिव हसमुख अधिया ने बताया कि सरकार कई जरूरी कदम उठाने की योजना बना रही है। बेशक, यह एक सतत चलने वाली प्रक्रिया है, ऐसे में अलग-अलग समय पर जरूरी कदम उठाए जाएंगे। हसमुख अधिया से जब पूछा गया कि क्या सरकार 3 लाख से अधिक के लेन-देन में रोक लगाने पर विचार कर रही है तो उन्होंने कहा कि कई जरूरी कदम उठाए जाएंगे, हालांकि ये कटौती कितनी होगी इसकी जानकारी नहीं

नई दिल्ली। केंद्र सरकार के अहम फैसले के बाद मंगलवार रात 12 बजे से कुछ खास जगहों को छोड़कर देशभर में 500 और 1000 के नोट को गैरकानूनी घोषित कर दिया गया। सरकार के फैसले के बाद अब 50 दिनों के भीतर यानी 31 दिसंबर तक लोग अपन पास रखे पुराने 500 और 1000 के नोट को बैंक, डाकघर और रिजर्व बैंक के 19 शाखाओं में जाकर बदला जा सकता है। आपके लिए पुराने नोट को बदलना इतना आसान नहीं होगा, क्‍योंकि इस पूरे लेन-देन पर आयकर विभाग की नजर रहेगी। दरअसल 500 और 1000 हजार के नोट बंद होने के बाद केंद्र सरकार ने वित्त मंत्रालय के आयकर विभाग को तैयार रहने को कहा है। आयकर विभाग को निर्देश दिए गए हैं कि वो नोट बदलने के बाद पड़ने वाले असर और माहौल से निबटने के लिए तैयार रहे। माना जा रहा है कि नोट बदलने की तारीख शुरू होते ही देश भर के बैंकों और डाक घरों में बड़ी संख्या में लोगों जा होंगे। 500 और 1000 के नोट खत्म होने के बाद लोग घरों में रखे पैसे को बैकों में जमा करने के लिए मजबूर हो जाएंगे। इतना ही नहीं कालेधन को अब लोग टैक्स अदा कर बैंक खाते में रखने के लिए बाध्य होंगे। ऐसे में आयकर विभाग को ऐसे लोगों पर नजर रखनी होग

Any people can check their income tax refund status online with some simple and very easy steps. income tax refunds status is a very easy service by income tax department of India for knowing the refund status online. A online refund status portal give the information of income tax refund status with few clicks. Check / verify the income tax refund status by pan number and assessment Year PAN Number (permanent account number)  :  PAN Number is a 10 alphanumeric unique identification number issue by Income tax department to tax payers and other. Assessment Year :  assessment year is the time of the tax pay by the tax payer . Assessment year is the year immediately following the financial year wherein the income of the F.Y. is assessed.  assessment year on this site to access the current position of the tax refund. Checking the refund status online Refund status by pan and assessment year   Refund status by acknowledgment number

The pan card correction form is using for making correction/ changes and reprinting in the pan card. applicant can do correction in their pan card. Download pan correction form format of pan card correction form

Documents required for pan card. the income tax department of india required following documents proofs for the new pan application as well as correction, changes and reprint of pan card application. NSDL PAN and UTI PAN both are the PAN card service providers and they follow the rules of income tax department of india. Here the List of Valid required documents for pan card, Eligible document proofs for pan card application. 1. Individual:  Document required for Individual/ personal PAN application Individual PAN application required 3 type of documents.(i) ID proof   (ii) Address proof   (iii) DOB proof Documents Required for new pan card application+correction+changes+reprint of pan S.No.Document / Copy ofValid for ID ProofValid for Address ProofValid for DOB Proof1PassportYESYESYES2Aadhar CardYESYESYES3Driving LicenseYESYESYES4Elector’s Photo Identity CardYESYESNO5Aadhar CardYESYESNO6Certificate of Identity in original signed by M.P.,/ MLA/ Municipal Councillor/ Gazetted Officer

UTI and NSDL both are responsible for  PAN Card service provider in india. There is not any major different between NSDL and UTI. Both  are working under the Income tax department of India. National Securities Depository Limited ( NSDL) : National Securities Depository Limited (NSDL) is an Indian central securities depository based in Mumbai. NSDL provides the online pan card services where any applicant can apply new pan card as well as make correction on pan card and applicant can apply for reprint or reissue the pan card if he/her lost the pan card. NSDL charge Rs. 106 /- for new Application and correction application. NSDL takes approx 7 – 10 days for PAN Number allotment and 20 – 25 days for shipping hard copy or physical copy of pan card to the application location in india. Infrastructure Technology And Services Limited ( UTI) : Established in 1993, UTI Infrastructure Technology And Services Limited (UTIITSL), erstwhile UTI Technology Services Limited (UTITSL), is a Governm

Any one can verify any pan card details or info through pan number or through name. pan card verification is a service provided by Income tax department of India. There are two PAN Card verification services are available. 1. Know the PAN number through name    This verification service is using for knowing the pan number. if you want to know the pan number of any person then you can find his/her pan number by using his/her name and dob. अगर आप किसी का PAN Number जानना चाहते है तो इस सर्विस के जरिये उस व्यक्ति का PAN Number आशानी से जान सकते है | किसी व्यक्ति का PAN Number जानने या verify करने के लिए आपके पास उस व्यक्ति का नाम और जन्म दिनांक की जानकारी होनी आवश्यक है  | Verify PAN by name 2. Know the PAN card holder details through PAN number   This is the verification services for knowing the pan card holders details or information. you can know the pan card holder first name, middle name, last name, AO, building name, verify the address etc. If you choose this verification ser

PAN Application Form – 49A PAN APPLICATION FORM – 49A  (Excel Format) PAN Correction / Changes / Reprint / Lost / Reissue Form Other forms…. Certificat of Identification by Bank Employer’s Certificate Affidavit for date of birth Affidavit by HUF (Hindu Undivided Family) Certificate by MP, MLA, MC and Gazetted officer Leave a Reply  Your email address will not be published. Required fields are marked * Comment  Name *  Email *  Website  Search pan query Search for: Recent Posts   Name change in pan card after divorce of woman   Know issue date and place of pan card   Pan no search by name or by application number   List of documents required for pan card application and correction application   pan card verification through pan number Categories change name changes complains forms minor pan card reissue pan-correction pan-status questions uncategorize Uncategorized © 2014 All rights reserved

Know the pan card holder’s name and address details or verify pan details through the PAN card number. income tax India efiling have a facility for knowing the Jurisdictional Assessing officer. Enter the PAN number, captcha image security code then click on submit button. PAN* :Image Reload captcha Enter the above image code How to Know the address of the PAN step 1. Go to  www.incometaxefiling.gov.in  -> Click on  Register Yourself step 2. Select the user type -> click on Continue step 3. Enter your basic details which were you filled in pan application.  then click on -> Continue step 4. Now. fill the Registration Form. step 5: A activation link will send to your email address. open your email account and click on that link. step 6. Then Login here  https :// incometaxindiaefiling.gov.in / e-Filing / UserLogin / LoginHome.html after login click on My Account -> Profile Setting -> PAN Details here you will see your Address 1, and Address 2 Verify any

Please click on the links below to view the Income Tax Slabs and Rates for the Assessment Year 2016-17 (applicable on income earned during 01.04.2016 to 31.03.2017) for various categories of Indian Income Tax payers. ●    Individual resident aged below 60 years ●   Firm ●   Senior Citizen ●   Local Authority ●   Super Senior Citizen ●   Domestic Company - Turnover upto Rs. 5 Cr. ●   Any NRI / HUF / AOP / BOI / AJP ●   Domestic Company - Turnover exceeding Rs. 5 Cr. ●   Co-operative Society ●   Other Company Individual resident aged below 60 years (i.e. born on or after 1st April 1957) Income Tax : Use Tax Calculator for AY 2017-18 Income SlabsTax Ratesi.Where the taxable income does not exceed Rs. 2,50,000/-.NILii.Where the taxable income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/-.10% of amount by which the taxable income exceeds Rs. 2,50,000/-.  Less  : Tax Credit u/s 87A - 10% of taxable income upto a maximum of Rs. 5000/-.iii.Where the taxable income exceeds Rs.

Please click on the links below to view the Income Tax Slabs and Rates for the Assessment Year 2016-17 (applicable on income earned during 01.04.2015 to 31.03.2016) for various categories of Indian Income Tax payers. ●   Individual resident aged < 60 ●   Firm ●   Senior Citizen ●   Local Authority ●   Super Senior Citizen ●   Domestic Company ●   Any NRI / HUF / AOP / BOI / AJP ●   Other Company ●   Co-operative Society Individual resident aged below 60 years (i.e. born on or after 1st April 1956) Income Tax : Use Tax Calculator for AY 2016-17 Income SlabsTax Ratesi.Where the taxable income does not exceed Rs. 2,50,000/-.NILii.Where the taxable income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/-.10% of amount by which the taxable income exceeds Rs. 2,50,000/-.  Less  : Tax Credit u/s 87A - 10% of taxable income upto a maximum of Rs. 2000/-.iii.Where the taxable income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-.Rs. 25,000/- + 20% of the amount by whi

In  order to encourage savings, the government gives tax breaks on certain financial products  under Section 80C  of the Income Tax Act. Under this section, you can invest a maximum of Rs l.50 lakh  (including 80CCC and 80CCD)

An Assessee is liable to get his  Tax Audit  done by a Chartered Accountant mandatorily, if in the previous year, The Person is carrying on business and his Total Sales/Turnover exceeds  Rs. 1 Crore  (Limit increased wef 1 st  April 2012) or The Person is carrying on Profession, and his Gross Receipts exceed  Rs. 50 Lakhs  (Applicable from Financial Year 2016-17 onwards) or The Person is carrying on business or profession and is covered under the provisions of  section 44AD ,  44AE , 44AF, 44BB or 44BBB and claims that his income from the said business is lower than the deemed profits and gains computed under the relevant section

The Income Tax Department allows certain deductions which can be claimed to save tax at the time of filing the income tax return. These deductions are only available if the taxpayer has done proper planning during the year. To make the best use of these sections, it is important to have their complete knowledge.

Deferred tax When we look out for the meaning for “Deferred” it means to Postpone or delay. Similarly deferred tax is also liability to pay tax in future that we have postponed and have to reflect in our balance sheet.

For quick and efficient collection of taxes, the Income-tax Law has incorporated a system of deduction of tax at the point of generation of income. This system is called as “Tax Deducted at Source”, commonly known as TDS. Under this system tax is deducted at the origin of the income.

TDS on sale of property  The buyer of an immovable property (land, flat, apartment, shop or a bungalow) which is valued at Rs 50 lakh or more is required to pay a withholding tax to the government.