Friday, 13 March 2020
Thursday, 12 March 2020
The
Central Board of Direct Taxes (CBDT) have introduced a new Format for Form 16
and Form 24Q, which are referred as salary TDS certificate. From the looks of
the new Forms it can be said that, claims under various sections have been
enhanced and cumulative. Also, new columns and sections have been added
in Form 16. A new column is made for senior citizens and various allowances have
been modified in Form 24Q. These two forms are prepared by your employer and
include details of your salary and investments. They are vital tools for filing
your income tax return (IRT). Now that ITR filing for the assessment year 2019-20
has already begun, it is important that you take note of every section in these
two Forms very seriously. One can reduce their taxes by furnishing these Forms
in their ITR filing. Also TDS can be claimed from the Income Tax
department.
Wednesday, 11 March 2020
NPS has two Tiers – 1 and 2.
NPS Tier 1 is the long haul speculation, which has
limited withdrawals and implied essentially for retirement arranging. On
development, you can pull back limit of 60% of corpus as lump sum and rest must
be utilized for annuity buy.
Tuesday, 10 March 2020
This has been long overdue and I am
happy that an Excel add-in that helps convert numbers to words or text is
finally here. Just install this add-in and you can easily convert numbers to
words in several popular currencies using relevant type of function INWORD.
Monday, 2 March 2020
The CBDT has changed the format of
Income Tax Form 16 Part B for the Financial Year 2018-19 since the 12 May 2019. This Format is more explore the
employee’s Salary Details.
Saturday, 29 February 2020
The CBDT has changed the format of
Income Tax Form 16 Part B for the Financial Year 2018-19 since the 12 May 2019. This Format is more explore the
employee’s Salary Details.
Thursday, 27 February 2020
Income Tax has launched the facility of issuing Instant PAN card through Aadhaar. This facility is free and available on the Income Tax e-filing website. It is a completely paperless process with the issuance of e-PAN card nearly real-time. The e-PAN card issue via this method holds similar value as a physical PAN card. This card contains a QR code. QR code holds complete information about PAN card such as Name of the holder, DOB, Father’s name as well as biometric. In order to get Instant PAN card all you need is Aadhaar card and linked mobile number.
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