Beware of Tax Refund mails!
If you receive an e-mail with subjects like “Tax Refund” or “Seeking Refunds” from some unidentified sender claiming to be from Income Tax Department, beware, it is a phishing scam!
Tax
Demystifying LTA exemption
Claiming Leave Travel Assistance (LTA) benefit has always been a puzzle for many. Some of us even settle to pay additional tax instead of claiming the Income Tax benefit associated with LTA. Here is your primer to know all about LTA exemption.
Income upto 10 Lacs, pay 10% tax!
Yes, you read it right! If the new Direct Tax Code Bill 2009 is passed by the Parliament in the winter session, paying 10% tax on income upto Rs.10 lacs, could be a reality very soon.
How to open and submit ITR V after e-filing your returns?
The Income Tax Department generates the acknowledgment form ITR V once you e-file your Income Tax Return. For increased security level to protect your financial information, this ITR V is password protected.
You need to keep your tax records for 10 years!
The information age has not done away with the need to keep your paperwork handy. It has only felicitated mode of storage! Much of the paperwork is connected to your income tax returns filing. For you, that means you need to be more organized with paperwork and keep them handy in physical or electronic format.
Provide details of AIR transactions in your Income Tax Return
Last date to file income tax returns is approaching. We often fill up details as contained in our Form 16 and omit other relevant information which needs disclosure. Annual Information Returns (AIR) is one such area which is mostly not provided by us in our ITR.
Budget 2009-10 – Calculate your Income Tax Impact
Check the impact of Union Budget 2009-10 on your Personal Income Tax. Enclosed find a simple excel based Tax Calculator applicable for FY 2009-10 or assessment year 2010-11.
How to e-file your Income Tax Return?
In our previous article, we tried to help you in decide whether you should e-file your income tax returns? Now we will provide details on how you can e-file your Income Tax Returns and evaluate various options available.
Should you e-file your income tax returns?
E-filing of income tax returns was enabled by the Income Tax Department a couple of years back. Using the e-filing process is simple and easy for all. Plus you have so many options available to you to prepare your Income Tax Returns.
Computing capital gains tax demystified
Investors are often bewildered by computation of Capital Gains Tax. Whether you invest in stocks, bonds, mutual funds, real estate, or any other financial instrument, you need to know the impact of the capital gains tax on your return. In this article we try to demystify Capital Gains specially for investments in equities.