What Is Form 15H and Why It Matters for Smart Investors in India?
A comprehensive strategy guide for investors to maximize investment returns through smart TDS management. Introduction: Why Form 15H Matters for Investors As an investor, every percentage point of return matters. While you focus on portfolio diversification and asset allocation, one often-overlooked area can significantly impact your net returns: Tax Deducted at Source (TDS) on your...
ITR 1 FILING PROCESS
Registered users of the e-Filing portal can pre-fill and submit their ITR-1 forms. Individual taxpayers can use this service to file ITR-1 online via the e-Filing portal and by gaining access to the offline tool. This user guide describes the ITR-1 online filing procedure. To File online visit the https://www.incometax.gov.in/IEC/FOPORTAL website. Registered users with valid USER ID and...
ITR 2 FILING PROCESS
Registered users of the e-Filing portal can pre-fill and submit their ITR-2 forms. Individual taxpayers can use this service to file ITR-1 online via the e-Filing portal and by gaining access to the offline tool. This user guide describes the ITR-1 online filing procedure. To File online visit the https://www.incometax.gov.in/IEC/FOPORTAL website. Registered users with valid USER ID and...
What Is AIS & How To Download It? -FFC ep 48
AIS i.e. Annual Information Statement provides a comprehensive view of information to a taxpayer. This will give you all details about Your financial transactions during the year. It will capture all financial transactions of the previous year including – Stocks, Insurance, Credit Cards, Purchase of property, Mutual Funds, Salary or Business Income, Dividends, Interest on SB A/c...
Do Not Miss These While Filing ITR – FFC episode 43
ITR filing due date is fast approaching. All taxpayers are required to file their ITR by 31 December 2021. In the rush to file ITRs by the due date, many taxpayers may miss out on reporting some income and that could get them into trouble with the income tax notice.It is advisable that taxpayers should be extra careful while filing their income tax returns. Our video will take you...
What Happens If You Forget To File Your ITR?
Income tax is paid by every individual who earns above INR 2.5 Lakhs per annum. Post the limit of INR 2.5 Lakhs, each and every individual is liable to pay taxes. It’s also everyone’s duty to file Income Tax returns, even if the tax liability is nil. The last date for filing of Income Tax Return for FY 2019-20 is 31st December 2020. Many people think that if they have paid...
Disclosing LTCG from Stocks, Equity Mutual Funds.
Income Tax Returns (ITR) for individual taxpayers have to be filed by 31st Dec 2020. This means that it’s time to evaluate your finances and declare all sources of income, so your taxes can be filed correctly. While the process of filing your ITR has been one which has traditionally been riddled with complicated forms and procedures, the government has taken active measures in order to make...
Common Mistake While Filing Income Tax Return
As the ITR (Income Tax Return) filing date has again extended till 31st December 2020, the taxpayers are compiling their tax related documents and other relevant certificates and making their sacred rounds to the tax consultant’s office. But what if I tell you that you can file your own Income tax returns without making certain common repetitive mistakes. This would not only...
Know These Changes In ITR Forms Before Filing!
Income Tax Return (ITR) forms are used by every taxpayer to provide details regarding the revenue earned, sources of income and the amount of tax payable. There are seven kinds of forms issued by the Income Tax Department which you can choose from. The Central Board of Direct Taxes (CBDT) issues new ITR forms every year. The ITR forms for AY 2020-21 (FY 2019-20) have introduced new additional...