Central Board of Direct Taxes has notified new income tax return forms for assessment year 2011-12 (Financial year 2010-11 ) . However, simplest form, which Finance Minister promised , will take some more day to come. Following income tax forms are notified For Individuals and HUFs not having Income from Business or Profession ITR-2 in [...]
Easy chart of deductions u/s 80C to 80U every individual should aware of !
January 11, 2011 by
The season of tax has arrived. Therefore , there is need for easy chart of all tax deduction u/s 80c to 80U for an Individual taxpayer?Under Income tax , deduction u/s 80C,80CCC, 80D, 80DD,80DDB,80G , 80GG, 80GGA, 80GGC , 80IAB , 80IB , 80IC , 80ID ,80IE , 80JJA , 80QQB ,80RRB , 80U are...
How to view details of received refunds in Annual tax Statement ?
May 25, 2010 by
It is already posted How To View or Verify TDS or TCS or Tax Paid By You Online At One Place ?NSDL now provides another important information about your refunds. If you have registered to view Form 26AS online can view details of paid refund in their Form 26AS from F.Y. 2009-10 (A.Y. 2010-11) onwards....
Will the introduction of stock-in-trade as capital in firm by a partner have capital gains tax?
May 13, 2010 by
Yes , even the the stock-in-trade will be suffer capital gains tax . This is as per the order of Special bench of Delhi Tribunal in DLF Universal Ltd vs CIT [128 TTJ 121 ] in which it was held that although S. 45 (3) applies when a capital asset is introduced into a firm...
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