Know The Hidden Facts Behind Your Pan Number

Now-a-days it is mandatory to have a pan card to open bank a/c, filing Income Tax Returns etc. Almost every bank a/c holder who are doing high network transactions should comply with Pan Card! Do you know that your Pan Number tells the status of your tax liability? Surprised! But it is fact that yourContinue reading “Know The Hidden Facts Behind Your Pan Number”

Here’s a Good News For Tax Payers! Government has Extended Last Date To File IT Returns!

Haven’y you filed your IT Returns for the assessment year 2021-22 till now and are in hurry to file returns sooner; Here’s a Good News for you! Taking the pandemic situation into consideration and Flaws in the new IT Portal launched by Infosys; Government has taken this stance to extend the last date further toContinue reading “Here’s a Good News For Tax Payers! Government has Extended Last Date To File IT Returns!”

How To Avail Capital Gains Tax Exemption on Sale of a House Property

Buying and selling capital assets(Real Estate, House, shares, mutual fund units) attracts capital gains tax. This may vary according to the nature of the asset and the holding period. Meaning of Capital Gain– Capital Gain arises out of the profit you derive from the sale of the capital asset. Only the profit you gained againstContinue reading “How To Avail Capital Gains Tax Exemption on Sale of a House Property”

Process To Check Your IT Refund Status Online

Have you filed your Income tax(IT) Returns and waiting for the refund;if any from the Central Board of Direct Taxes(CBDT)? Generally CBDT refunds within 10 days of ITR Filing by the subscribers, but in some cases, it may take much longer too! From several days, there is an issue with IT Portal where many tax-payersContinue reading “Process To Check Your IT Refund Status Online”

Senior Citizens above 75 Years of Age need not file IT Returns from this Financial Year; But subject to “Certain Conditions”

Our Financial Minister Mrs. Nirmala Sitharaman announced that senior citizens above 75 years of age wouldn’t file income tax returns from this financial year 2021-22. This is some what big relief to senior citizens who depend entirely on Pension Income. From April 2021, senior citizens who falls under income tax bracket and are above 75Continue reading “Senior Citizens above 75 Years of Age need not file IT Returns from this Financial Year; But subject to “Certain Conditions””

What is a Tax Consultant, Why Do you Need Them?

Financial Planning and Tax Planning are a vast subject and not all are aware of the tax laws. These are specified to change from time-to-time based on the decisions of the Finance Minister. Recently Indian Government is taking strict measures on those who are evasing taxes. Indian Government allows to claim deductions and exemptions underContinue reading “What is a Tax Consultant, Why Do you Need Them?”