Form 71 is an income tax form that can be used to claim credit for TDS deducted in the wrong assessment year. It was introduced... Read More
Rajbir Chawla
In the event any unreported income is discovered by Income Tax Department during assessment, an assessee is liable to pay penalties which may extend upto 300% of the tax sought to be avoided besides Income Tax and the Interest due thereon... Read More
What are reasons for Income Tax Refund being delayed- Remedies to expedite Income Tax Refund
3 min read
If your income tax refund in India gets delayed, there are several steps you can take to inquire about the delay and seek remedies:... Read More
The digital age is in full force, and we have embraced new technologies to make our lives easier and hassle-free. The Aadhaar Card is one... Read More
An HUF is a legal entity recognized under the Income Tax Act, 1961, and it consists of members who are part of the same Hindu... Read More
Getting a loan has become considerably simpler thanks to online lenders that offer a variety of loan products. There is a wide range of non-collateral... Read More
Managing finances can be a daunting task, especially when it comes to setting up and maintaining different bank accounts. While some individuals prefer one account... Read More
Suffering a personal injury can be a distressing experience, but knowing the right steps to take immediately after the incident can significantly impact your well-being... Read More
Filing an Income Tax Return (ITR) in India can be done online through the Income Tax Department’s e-filing portal. The ITR1 form is applicable to... Read More
Filing tax returns without Form 16 can be challenging. Without it, calculating accurate income becomes difficult, proving TDS deductions becomes problematic, and claiming deductions accurately becomes a challenge. However, you can take several remedies. Start by communicating with your employer and requesting Form 16. If that fails, escalate the matter internally and send written reminders. If all else fails, approach tax authorities for assistance. In the absence of Form 16, use alternative documents like salary slips and bank statements to calculate income. Maintain proper documentation and consult a tax professional for guidance. Remedies include urging your employer, escalating internally, communicating in writing, seeking assistance from tax authorities, using alternative documents, and maintaining proper records.... Read More