Tax, Investments and Retirement

Hello, Today I have received an email from CPC stating my ITR which I uploaded back in 2010 has been transferred to jurisdictional AO for AY:2010-11. The reason stated is ''Jurisdictional Assessing...

As per I T rules senior citizen is exempted for total limit of Rs 3lakhs and Rs 5 Lakhs for very old Sr citizen of above 80 Yrs.So I stop submitting return as my total income is far less than taxab...

We keep submitting our KYC, identity proof, residence proof and several documents to various entities. It may be possible, that the said entity may pass this to terrorist or other unscrupulous peo...

Hello, 1) Is presumptive taxation u/s 44AD specifically prohibited for business income derived from trading in futures and options? 2) Will a taxpayer being assessed u/s 44AD be l...

As per the provisions under section 56 of the Income Tax Act,1961, any sum of money, the aggregate value of which exceeds Rs.50,000 received by an individual during the Financial Year(FY) without ...

Is there any penalty if I file IT after due date of 5th Aug.?Can I file now?

Usually one is made to believe that many of the ‘small’ PSU banks are unable to perform for lack of adequate capital for doing so. In my opinion, it is only a partial truth. ...

I am a retired engineer and submitting my IT returns regularly and paying my taxes. I want one clarification. My wife has got some money from mydaughters and son and deposited in FD. The interest f...

I am a full time Share Trader. Can anyone let me know how to take care of income tax formalities for the share trading. How to file IT returns for the same, what the docs required for IT returns. A...

Any chance the deadline may be extended to Aug 31st. Struggling due to new requirements for ppl with foreign accounts