Income Tax

What is remedy to taxpayer if the Tax deductor fails to deposit the TDS or fails to file TDS Return 5 min read

• Income Tax

What is remedy to taxpayer if the Tax deductor fails to deposit the TDS or fails to file TDS Return

Rajbir Chawla 11 months ago

If deductor fails to deposit TDS, don’t worry as there are some landmark cases in India that support the assessee's (taxpayer's) rights when the deductor (employer) fails to deposit TDS with the government:... Read More

What is Income Tax Liability on Income from trading in Future and Options 6 min read

• Income Tax

What is Income Tax Liability on Income from trading in Future and Options

Rajbir Chawla 1 year ago

Income from Futures and Options (F&O) and regular share trading income differ in terms of instrument traded, purpose, and taxation. Before coming to How the... Read More

The Importance of Filing Your Income Tax Return on Time: A Financial Must-Do 4 min read

• Income Tax

The Importance of Filing Your Income Tax Return on Time: A Financial Must-Do

Rajbir Chawla 1 year ago

As the time to file Income Tax Return for Financial year ending March24 (Relevant to Assessment Year 2024-25) is approaching, It is time to get... Read More

Is Addition made by Assessing officer on basis of mismatch between AIR and F26AS Justified 4 min read

• Income Tax

Is Addition made by Assessing officer on basis of mismatch between AIR and F26AS Justified

Rajbir Chawla 1 year ago

The answer is nuanced and depends on several factors. While a mere mismatch between Annual Information Return (AIR) and Form 26AS doesn’t automatically warrant an... Read More

Salient Changes in the new Income Tax Rules relevant to Assessment Year 2024-25 4 min read

• Income Tax

Salient Changes in the new Income Tax Rules relevant to Assessment Year 2024-25

Rajbir Chawla 1 year ago

Some major changes in Income Tax Rules relevant to Assessment Year 2024-25 are as below: Changes in Income Tax Slabs: The income tax slabs under... Read More

To What limit can you hold Gold at Home-Taxation on Sale of Gold 5 min read

• Income Tax

To What limit can you hold Gold at Home-Taxation on Sale of Gold

Rajbir Chawla 1 year ago

Why people prefer to Invest in Gold Gold has been a popular investment in India for ages. There are various reasons why people, especially Indians,... Read More

Claimimg TDS Credit in Previous year while deductor deposited in subsequent year- Use of Form 71- Its benefits and Limitations 4 min read

• Income Tax

Claimimg TDS Credit in Previous year while deductor deposited in subsequent year- Use of Form 71- Its benefits and Limitations

Rajbir Chawla 2 years ago

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

Discovered some mistake after filing Income Tax return?- Understand the rectification process of Return to escape Penalties 3 min read

• Income Tax

Discovered some mistake after filing Income Tax return?- Understand the rectification process of Return to escape Penalties

Rajbir Chawla 2 years ago

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

• Income Tax

What are reasons for Income Tax Refund being delayed- Remedies to expedite Income Tax Refund

Rajbir Chawla 2 years ago

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 Significance of an Aadhaar Card to get an Instant Loan 4 min read

• Income Tax

The Significance of an Aadhaar Card to get an Instant Loan

Rajbir Chawla 2 years ago

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