Author: SREENU .T
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number of e-filings declined
Even there is a mandatory requirement to e-filing of individuals whose total income exceeds Rs 5,00,000, total number of e-filings lags behind as compared with the financial year 2012-2013(21486807) with financial year 2013-2014(till 31st July) 10321775. When it comes to e-filing through ITR-1(salaried individuals), there is also a drop down of 628629 and it stands…
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ITR e-filing exceeds 1 crore
Number of e-filing made exceeds 1 crore (10321775 as on 31st July, 2013),even there is a mandatory requirement to e-filing of individuals whose total income exceeds Rs 5,00,000, total number of e-filings lags behind as compared with the financial year 2012-2013(21486807). When it comes to e-filing through ITR-1(salaried individuals), there is also a drop down…
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Find out-Mutual funds specified u/s 10(23D)
Income arising from Mutual Funds set up by any public sector bank or public financial institution – notified u/s 10(23D) is exempted. SBI Mutual Fund, CANBANK Mutual Fund, LIC Mutual Fund, The India Magnum Fund N.V. Mutual Fund, Indian Bank Mutual Fund, PNB Mutual Fund, BOI Mutual Fund, Asian Convertibles and Income Fund Mutual Fund,…
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up coming Bank holidays
AUGUST Ramzan Id (Id-Ul-Fitr) 9 Independence Day 15 Raksha Bandhan 20 Sree Narayana Guru Jayanthi 22 Janmashtami/Krishna Jayanthi 28 SPETEMBER Ganesh Chaturthi/Varasidhi Vinayaka Vrata/Vinayakar Chaturthi 9 Ganesh Chaturthi 2nd Day 10 Thiruvonam 16 Sree Narayana Guru Samadhi Day 21 OCTOBER Mahatma Gandhi Jayanti 2 Mahalaya 4 Astami of Durgapuja 12 Durga Puja (Dasain)…
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Overwhelming response for e-filing
The new rule making assesses having a total income of more than Rs 5,00,000 to file their return electronically(e-filing) results in an overwhelming increase of 40 % than the number of returns during the last year. More than 82 lakh returns have been e-filed till 29th July, 2013 out of which 6.23 lakh returns were…
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Due date extented for filing returns of income to 5th july,2013
Central board of direct tax has extended due date for filing returns of income from 31st July,2013 to 5th August, 2013. All assesses having a total income of more than Rs 5, 00,000 are compulsory required to file their return electronically. There has been tremendous increase in number of e-returns till 31st July. It is…
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ITR-V-what,when,how?
ITR-V stands for ‘Income Tax Return – Verification’ form. This is issued as an acknowledgement to your returns filed online without a digital signature. It is meant to verify the authenticity of e-return filed.Upon receipt of ITR-V, income tax department will send an email informing the receipt of ITR-V (acknowledgement). In order to complete the…
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Income tax forms
1 ITR-1 (SAHAJ) Indian Individual Income tax Return 2 ITR-2 For Individuals and HUFs not having Income from Business or Profession 3 ITR-3 For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship 4 ITR-4S (SUGAM) Sugam – Presumptive Business Income tax Return 5 ITR-4 For individuals and HUFs…
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Cancer Care for Life scheme by regional cancer centre
Cancer Care for Life scheme (3rd series) is a scheme sponsored by Regional Cancer Centre, Trivandrum to provide advanced cancer treatment free of cost to all those who join the scheme up to a prescribed limit. In this scheme there are two Plans, plan-A and plan-B. The scheme is open to all Indian citizens who…
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Weighted deduction allowed on in-house research and development extended
In order to mobilize funds for in-house research and development, weighted deduction allowed under section 35 (2AB) has been extended to 31st march, 2017 which was previously limited to 31st march, 2012. Expenditure (not being in the nature of cost of any land or building)incurred by companies on in-house research and development approved by prescribed…