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Form 16 Revised Format: Changes, Why?
Form 16 is a certificate issued by employers, giving details of employees’ TDS (tax deducted at source) usually by mid-June and is…
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Income Tax Notice for Inconsistency in Salary Income and Form 26AS
On 6 May 2018, many salaried employees got an Income Tax Notice, a notification from IT department regarding inconsistency between…
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Difference between PAN, TAN and TIN
Every industry has its own jargon, abbreviations. In India, three numbers or abbreviations that are related to financial transactions are PAN,…
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Submitting Home Loan Interest Proof to the Employer with PAN of Lender
In India, personal income tax is based on the concept of “pay as you earn” wherein there is a mandatory…
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e-Nivaran: To raise and track Income Tax related Grievances Online
Aiming for prompt and proficient management or resolution of complaints, Income Tax Department has launched e-Nivaran, a unified grievance handling…
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How to show HRA not accounted by the employer in ITR
If your HRA has not been accounted in Form 16, you can still claim it by using the calculation of…
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The amount of salary disclosed in Income details/Part BTI is less than 90% of Salary reported in Schedule TDS1
I am filing ITR1 and filling the same salary mentioned in Form16(Income chargeable under the head Salaries(3-5)). But on submitting,…
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Fixed Deposit in Name of Wife: Clubbing,Tax,TDS, ITR,Refund
Often we have seen People opening Fixed Deposits in the Name of wife especially if the wife is home-make. He…
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How to Fill ITR when you have multiple Form 16
When you change job in a financial year you need to make sure that the deductions and exemptions regarding tax liability…
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Changing Jobs and Tax, Form 12B
People change jobs these days, unlike days of our parents when people joined companies and worked there till retirement. Changing jobs…
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Tax Exempt Allowances in Salary Schedule S in ITR2
The ITR-2 form for AY 2014-15 requires taxpayers to give a detailed break-up of tax-exempt allowance in schedule S. Schedule…
