Ay 201819

An allowance is generally defined as the fixed quantity of money which is given regularly in addition to salary for the purpose of meeting some particular requirement connected with the service rendered by the employee or as compensation for unusual conditions of that services. Following are the most common allowance which every salaried person need to know and use it for tax planning. When is NBA schedule release? What is the Premier League ball?

According to Section 44AB, a person requires to file tax audit report if turnover from business is more than Crore or from Professional is more than Lacs. Each return form is applicable according to the status of taxpayer and type of income he earns during the year. The applicability of ITR forms for the current year has been explained in below tables. B for years prior to AY.

The commissioner of Income-Tax arc authorized to admit and dispose off by 31. Surcharge: of income tax, where total income exceeds Rs. The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. The good thing is most of things are similar to last year.

However, as it happens every year, there are some changes in these forms and information sought. There are few major changes in these forms. Let us see in detail these changes and understand which form you can use. There is no change in the manner of filing of ITR Forms as compared to last year. All these ITR Forms are to be filed electronically.

Academic Year Events. In order to make ITR filing easy, some sections of the forms have been rationalized. Thankfully there is No change in the number and name of Forms as compared to last year.

School of Business is recognised for quality business education at the diploma level. Our diplomas are highly valued by employers and widely accredited by reputable universities globally for admission to accelerated degree programmes. In India income is taxed based on the category of taxpayer.

For example, the income of an individual is taxed at a slab rate whereas the income of the company is taxed at a fixed rate. The new forms are Form ITR-(Sahaj), Form ITR- Form ITR- Form ITR-(Sugam), Form ITR- Form ITR- Form ITR- and Form ITR-V. Investor protection fund – 10(23EC) or 10(23ED) 3. Core settlement guarantee fund – 10. So, Stay tuned to this page…. These meetings can also serve as a communication tool for district-wide initiatives (e.g., feedback on Pathway maps, placement testing, etc.).

To get tax deductions one can also invest in various schemes such as retirement savings schemes, life insurance plans and national savings schemes etc. It means an assessee need to be audited under Sec. This provision is applicable from F. In order to gain tax benefits to the fullest, it is essential to understand the current income tax slab rates. But in actual sense, it is not complex.

The main thing here is to understand the heads. Individual resident who is of the age of years. The existing ITR Forms ITR- ITR-2A and ITR-have been rationalized and a single ITR-2.

CIT authorised admit belated applications for delay upto 3days Circular No. Income from Salary and Wages, House Property, Presumptive Business and Other Sources. From ITR or ITR or ITR 4. Age of the Income Tax Assessee ( Category- General, Senior citizen and Super senior citizen) Gross annual income for the financial year.

These ITR forms will be applicable to filing of income tax return in.