Category: Personal Income Tax

Section 80TTA of income tax act Section 80TTA deals with the tax rebate available on interest earned in your savings bank account upto a limit of Rs 10,000 in a financial year. This new section was introduced in the finance act 2012 and is applicable from the financial year 2013-14.… Read more

Income tax e-filing acknowledgement E-filing is the process of filing your Income Tax return electronically through internet. E-filing of income tax return is mandatory for all companies which require statutory audit u/s 44AB. No other Income tax returns filing will be accepted for such companies.… Read more

Penalty for non deduction of TDS If an individual is paying somebody an income which is taxable then he/she should deduct tax at source TDS as per the rate specified by the Tax Department of India. It is important that the employer deducts tax at source and if it is not done as specified then there are specific penalties for the person who fails to deduct tax at source that is TDS.… Read more

Income tax e-filing login E-filing of income tax returns refers to filing your income tax return electronically through internet. E-filing is a mandatory for all companies which require section 44 AB audit return and without e-filing receipt these companies cannot go for Section 44 AB audit return.… Read more

Income tax refund status toll free number Every Indian citizen has to pay some amount as income tax depending upon the tax slab in which he/she falls. You should always pay your Income Tax on time. It is Government’s right and you should not cheat in order to abstain yourself from paying Income tax.… Read more