Penalty Chart under the Income Tax Act, 1961
Given below is the chart which shows section under which penalty can be imposed, nature of default and quantum of penalty. PENALTIES UNDER INCOME TAX ACT Section Nature of Default… Read more »
Tag: Income Tax
Steps to file Income Tax Return without using any software
After incorporating the new facilities on income tax e-filing portal, one can file his/her income tax returns directly on the department website without using any software. Steps to file Income… Read more »
TDS on Property -FAQ and Points to Remember
As per Finance Bill of 2013, TDS is applicable on sale of immovable property wherein the sale consideration of the property exceeds or is equal to Rs 50,00,000 (Rupees Fifty… Read more »
Guidelines for reporting TDS transactions not exceeding / exceeding threshold limit in quarterly TDS statements
Guidelines for reporting TDS transactions not exceeding / exceeding threshold limit in quarterly TDS statements (as issued by Directorate of Income Tax – Systems). Below guidelines may be referred, if… Read more »
Booklet on Permanent Account Number (PAN)
This booklet has been brought out for the first time under the Tax Payers Information Series. It is an attempt to help the taxpayers who want to apply for PAN… Read more »
Govt urges taxpayers to disclose true income and pay appropriate taxes
Government urges all tax payers to disclose their true income and pay appropriate taxes within the current financial year; A Compliance Management Cell has been set-up to ensure follow-up action… Read more »