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Income Tax

The Central Board of Direct Taxes , Extended the due date of filing return of income for AY 2015-16 from 31st July 2015 to 31st August 2015

June 14, 2015

Extension of due date of filing return of income for Assessment Year 2015-16 G.I., Department of Revenue, Central Board of Direct Taxes, O.M.F.No.225/154/2015/TA.II, dated 10.6.2015 Order under Section 119 of the Income-tax Act 1991 Subject- Extension of due date of filing return of income for … [Read more...] about The Central Board of Direct Taxes , Extended the due date of filing return of income for AY 2015-16 from 31st July 2015 to 31st August 2015

Income tax will be imposed – Premature Provident Fund withdrawal

June 9, 2015

Premature Provident Fund withdrawal – Income tax will be imposed Income Tax for Premature Provident Fund withdrawal of more than Rs.30,000 The Government has announced that income tax will be imposed if, at the time of premature withdrawal, the Provident Fund amount is in excess of … [Read more...] about Income tax will be imposed – Premature Provident Fund withdrawal

Income Tax Return Forms ITR 1, 2 and 4S Simplified for Convenience of the Tax Payers

June 1, 2015

Income Tax Return Forms ITR 1, 2 and 4S Simplified for Convenience of the Tax Payers A New Form ITR 2A Proposed which can be Filed by an Individual or HUF who does not have Capital Gains, Income from Business/Profession or Foreign Asset/Foreign Income; In Form ITR 2 and the New Form ITR 2A, the … [Read more...] about Income Tax Return Forms ITR 1, 2 and 4S Simplified for Convenience of the Tax Payers

Employee Provident Fund Organization (EPFO) has decided to impose a tax of 10.3% on the amount withdrawn from the EPF

April 30, 2015

10% Tax Proposed on PF Withdrawals The Employee Provident Fund Organization (EPFO) has decided to impose a tax of 10.3% on the amount withdrawn from the EPF within five years of starting the accounts. EPF accounts have to be created in all the concerns that employ more than 20 workers, with … [Read more...] about Employee Provident Fund Organization (EPFO) has decided to impose a tax of 10.3% on the amount withdrawn from the EPF

Tax Relief To Family Members of Differently Abled

April 25, 2015

Tax Relief To Family Members of Differently Abled Section 80DD of the Income Tax Act, 1961, inter alia, provides for a deduction to an individual or HUF, who is a resident in India, and Incurs expenditure for the medical treatment (including nursing), training and rehabilitation of a dependant, … [Read more...] about Tax Relief To Family Members of Differently Abled

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