Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TDS :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: form 3cd :: articles on VAT and GST in India :: empanelment
 
 
« News Headlines »
 Income tax returns refunds: Here is where to file grievance
 Can the filling of GSTR-3B be avoided by filing GSTR-1, 2 & 3?
 CII seeks extension of time for filing GST returns
 A tax saver scheme with higher returns
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST

Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
May, 18th 2017

With the close of the financial year, most individuals have completed their tax planning and tax deduction exercise for the year. This leaves the final step in completing one's income tax process - filing ITR or income tax return. Often regarded as a painful formality, you must remember that this is one of the most important income document for any individual. While July 31, 2017 is the last day to file I-T returns, remember that the income tax filing website - incometaxindiaefiling.gov.in - typically has a lot of server downtime due to last minute rush so ensure that you do not wait until the last day to file your returns.

Here are some important things to remember when filing for tax returns according to leading share trading company and financial consultant Motilal Oswal:

1) Anyone with an annual income of over Rs. 2.5 lakh needs to file I-T returns whether the income is taxable or not. The Income Tax Department tracks lifestyle expenses, asset purchases, investments and foreign travel through your PAN card and Aadhaar number so try to be as transparent as possible.

2) Remember that all your sources of income must be filed as part of your I-T returns. Even if your dividends are tax-free, it is still essential to disclose all these details in your I-T returns.

3) If you have made losses on shares or equity-oriented mutual funds, you need to show the loss when you file returns. If you do not disclose the loss in your I-T returns, you lose the benefit of setting off the losses against other gains and also lose the benefit of carrying forward these losses for a period of 8 years, says Motilal Oswal.

4) You are required to file your returns online on the website of the Income Tax Department. However, your job does not end there. The returns need to be e-verified which can be done by linking it to your registered bank account having the same name details.

5) While refunds below Rs. 50,000 are directly credited to your bank account via RTGS, refunds above Rs. 50,000 are only paid out by cheque. Hence if your refund is above Rs. 50,000 ensure that your address is updated in the I-T records.

6) Remember that effective July 1, 2017, an Aadhaar card is a prerequisite for filing income tax returns.

7) If you forget to file returns before the due date of July 31 and do not have any tax payable then you can file the returns by March 31 next year. But refund cases will not be entertained if returns are filed after the cut-off date of July 31.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions