Tax forms: GK, Current Affairs, Questions, Trivia and News

8.80 Million turns out to be ‘stop filers’ in Demonetisation year

Income Tax Returns have seen a upward surge in tax compliance aftermath of demonetisation and GST introduction. However according to a report, around 8.80 million taxpayers turned out to be ‘stop filers’ i.e. those who did not file tax returns in a given year despite doing so in the financial year 2016-17, the year when ..

Aaykar Setu

The Central Board of Direct Taxes has launched an app ‘Aaykar Setu’. The app helps to file income tax return (ITR) online, locate the nearest Tax Return Prepares (TRP), provides calculators and other tools, helps manage your PAN and TDS.  The app, therefore, is more of a helping guide to zero-in to one’s tax concern ..

Salaried employees to get more tax benefits

Now, salaried employees who are earning up to Rs 5 lakh a year, are not required to file income tax returns for assessment year 2012-13. The immunity from filing I-T returns is valid in those conditions, when total income of the employee does not exceed Rs 5 lakh and the annual interest received from savings ..

E-file returns compulsory if income exceeds Rs 10 Lakhs

People with income of Rs 10 Lakhs per annum will have to file their tax returns electronically beginning 2011-12 Financial year. The CBDT (Central Board of Direct Taxes) has issued a notification making e-filing compulsory for assessment year 2012-13 onwards for an individual or a Hindu undivided family if his or its total income exceeds ..