Tax India: FAQs on filing the return of income

Tax India: FAQs on filing the return of income

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Showing posts with label FAQs on filing the return of income. Show all posts

Showing posts with label FAQs on filing the return of income. Show all posts

Thursday, February 22, 2018

Income Tax FAQ's

What is long-term capital gain and short-term capital gain?

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What is long-term capital gain and short-term capital gain?

Tax India Online February 22, 2018 0 Comments

Gain arising on transfer of long-term capital asset is termed as long-term capital gain and gain arising on transfer of short-term cap...

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By Tax India Online at February 22, 2018 No comments:

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Labels: FAQ's, FAQs on filing the return of income, Income Tax FAQ's

Thursday, February 15, 2018

FAQs on filing the return of income

What precautions should be taken while filing the return of income?

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What precautions should be taken while filing the return of income?

Tax India Online February 15, 2018 0 Comments

Following is the list of few important steps/points/precautions to be kept in mind while filing the return of income: The first...

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By Tax India Online at February 15, 2018 No comments:

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Labels: FAQ's, FAQs on filing the return of income

FAQs on filing the return of income

What to do if discrepancies appear in actual TDS and TDS credit as per Form 26AS?

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What to do if discrepancies appear in actual TDS and TDS credit as per Form 26AS?

Tax India Online February 15, 2018 0 Comments

Every person deducting tax at source has to furnish the details of tax deducted by him to the Income-tax Department. The details w...

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By Tax India Online at February 15, 2018 No comments:

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Labels: FAQ's, FAQs on filing the return of income

FAQs on filing the return of income

What is Form 26AS?

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What is Form 26AS?

Tax India Online February 15, 2018 0 Comments

A taxpayer may pay tax in any of the following forms: (1) Tax Deducted at Source (TDS) (2) Tax Collected at Source (TCS) (3) A...

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By Tax India Online at February 15, 2018 No comments:

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Labels: FAQ's, FAQs on filing the return of income

FAQs on filing the return of income

Am I liable for any criminal prosecution [arrest/imprisonment, etc.] if I don’t file my Income-tax return, even though my income is taxable?

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Am I liable for any criminal prosecution [arrest/imprisonment, etc.] if I don’t file my Income-tax return, even though my income is taxable?

Tax India Online February 15, 2018 0 Comments

Non-payment of tax attracts interests, penalty and prosecution. The prosecution can lead to rigorous imprisonment from 3 months to...

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Labels: FAQ's, FAQs on filing the return of income

FAQs on filing the return of income

Why is return filing mandatory, even though all my taxes and interests have been paid and there is no refund due to me?

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Why is return filing mandatory, even though all my taxes and interests have been paid and there is no refund due to me?

Tax India Online February 15, 2018 0 Comments

Amounts paid as advance tax and withheld in the form of TDS or collected in the form of TCS will take the character of your tax d...

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By Tax India Online at February 15, 2018 No comments:

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Labels: FAQ's, FAQs on filing the return of income

FAQs on filing the return of income

There are various deductions that are not reflected in the Form 16 issued by my employer. Can I claim them in my return?

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There are various deductions that are not reflected in the Form 16 issued by my employer. Can I claim them in my return?

Tax India Online February 15, 2018 0 Comments

Yes, it can be claimed if you are otherwise eligible to claim the same.

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FAQs on filing the return of income

Am I required to keep a copy of the return filed as proof and for how long?

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Am I required to keep a copy of the return filed as proof and for how long?

Tax India Online February 15, 2018 0 Comments

Yes, since legal proceedings under the Income-tax Act can be initiated up to four or six years (as the case may be) prior to the ...

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By Tax India Online at February 15, 2018 No comments:

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FAQs on filing the return of income

How many times can I revise the return?

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How many times can I revise the return?

Tax India Online February 15, 2018 0 Comments

If a person after furnishing the return finds any mistake, omission or any wrong statement, then return should be revised withi...

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By Tax India Online at February 15, 2018 No comments:

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FAQs on filing the return of income

If I have committed any mistake in my original return, am I permitted to file a revised return to correct the mistake?

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If I have committed any mistake in my original return, am I permitted to file a revised return to correct the mistake?

Tax India Online February 15, 2018 0 Comments

Original return can be revised under section 139(5) within a period of one year from the end of the relevant assessment yea...

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By Tax India Online at February 15, 2018 No comments:

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FAQs on filing the return of income

If I have paid excess tax how will it be refunded to me?

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If I have paid excess tax how will it be refunded to me?

Tax India Online February 15, 2018 0 Comments

The excess tax can be claimed as refund by filing your Income-tax return. It will be refunded to you by crediting it in your b...

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FAQs on filing the return of income

Can a return be filed after the due date?

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Can a return be filed after the due date?

Tax India Online February 15, 2018 0 Comments

Yes, if one could not file the return of income on or before the prescribed due date, then he can file a belated return. A belated...

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By Tax India Online at February 15, 2018 No comments:

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Labels: FAQ's, FAQs on filing the return of income

FAQs on filing the return of income

If I fail to furnish my return within the due date, will I be fined or penalized?

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If I fail to furnish my return within the due date, will I be fined or penalized?

Tax India Online February 15, 2018 0 Comments

Yes, if you have not furnished the return within the due date, you will have to pay interest on tax due. If the return is ...

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By Tax India Online at February 15, 2018 No comments:

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Labels: FAQ's, FAQs on filing the return of income

FAQs on filing the return of income

What are the due dates for filing returns of income/loss?

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What are the due dates for filing returns of income/loss?

Tax India Online February 15, 2018 0 Comments

Due date of filing of return of income Sr. No. Status of the taxpayer Due date 1 Any company other than a company who is r...

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By Tax India Online at February 15, 2018 No comments:

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FAQs on filing the return of income

Is it necessary to file return of income when I do not have any positive income?

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Is it necessary to file return of income when I do not have any positive income?

Tax India Online February 15, 2018 0 Comments

If you have sustained a loss in the financial year, which you propose to carry forward to the subsequent year for adjustment agai...

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By Tax India Online at February 15, 2018 No comments:

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FAQs on filing the return of income

What are the benefits of e-filing the return of income?

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What are the benefits of e-filing the return of income?

Tax India Online February 15, 2018 0 Comments

E-filing can be done from any place at any time and it saves time and efforts. It is simple, easy and faster. The e-filed returns...

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By Tax India Online at February 15, 2018 No comments:

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Labels: FAQ's, FAQs on filing the return of income

FAQs on filing the return of income

What are the benefits of filing my return of income?

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What are the benefits of filing my return of income?

Tax India Online February 15, 2018 0 Comments

Filing of return is your duty and earns for you the dignity of consciously contributing to the development of the nation. Apart...

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By Tax India Online at February 15, 2018 No comments:

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Labels: FAQ's, FAQs on filing the return of income

FAQs on filing the return of income

Will I be put to any disadvantage by filing my return?

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Will I be put to any disadvantage by filing my return?

Tax India Online February 15, 2018 0 Comments

No, on the contrary by not filing your return inspite of having taxable income, you will be liable to the penalty and prosecution...

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By Tax India Online at February 15, 2018 No comments:

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Labels: FAQ's, FAQs on filing the return of income

FAQs on filing the return of income

What is the difference between e-filing and e-payment?

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What is the difference between e-filing and e-payment?

Tax India Online February 15, 2018 0 Comments

E-payment is the process of electronic payment of tax (i.e., by net banking or SBI’s debit/credit card) and e-filing is the pr...

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By Tax India Online at February 15, 2018 No comments:

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FAQs on filing the return of income

Is there any e-filing help desk established by the Income-tax Department?

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Is there any e-filing help desk established by the Income-tax Department?

Tax India Online February 15, 2018 0 Comments

In case of queries on e-filing of return, the taxpayer can contact 1800 4250 0025

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Popular Posts

After making the PAN application how can I check the status of my PAN application?

After applying for PAN, one can check the status of his application by using the track status facility available at web sites of In...
Who is eligible to take advantage of the presumptive taxation scheme of section 44AD?

The presumptive taxation scheme of section 44AD can be adopted by following persons : 1) Resident Individual 2) Resident Hindu U...
If I fail to furnish my return within the due date, will I be fined or penalized?

Yes, if you have not furnished the return within the due date, you will have to pay interest on tax due. If the return is ...
FAQs from TDS – Centralized Processing Cell

To see the FAQs from TDS – Centralized Processing Cell, please visit at http://contents.tdscpc.gov.in/en/top-faq.html ...

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