Self assessment tax is the last chance for payment of tax due on the income computed by assessee himslef or herself and whatever balance is there after payment of advance tax . Many people does not understand that payment of self assessment tax is not only economical to them , but also saves them from…
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CBDT has clarified that the date of filing tax return to 17th October 2016 vide its order u/s 119 of the Income-tax Act, 1961 (‘Act’) dated 9th September, 2016 is also for obtaining the tax audit report under section 44AB . Read the explanatory circular below F. No. 225/195/2016-ITA II Government of India Ministry of […]
CBDT has extended the due date for filing tax return on ground of clash of dates with last date for declaration under the Income Declaration Scheme 2016 . It its circular dt 9th September 2016 , reasons cited by the CBDT to remove the inconvenience – “In order to remove inconvenience and to facilitate ease of […]
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Disability deduction u/s. 80DD of the I.T Act for expenses on maintenance ,nursing or medical treatment of disabled dependent relatives or members of HUF is allowed to a taxpayers .The deduction u/s 80DD is generally of Rs 50,000 , but in case the dependent is suffering from severe disability, the maximum limit goes to Rs 1,00,000 ...
About Prashant Thakur
The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.