Income Tax

How to check if your TDS is actually going to the government? Hint – View Form 26AS online

According to media reports the I-T department recently discovered a scam where companies deducted TDS (tax deducted at source) from its employees but did not deposit it with the government. So what is TDS and how can you check if the TDS deducted by your employer is actually going to the government? You need to …

How to check if your TDS is actually going to the government? Hint – View Form 26AS online Read More »

Steps to e-verify cash deposits made during demonetization (during 9th Nov to 30th Dec 2016)

Did you deposit your old 500 and 1000 rupee notes during demonetization? The Income Tax Department (ITD) has used big data analytics to compare of demonetisation data with information in ITD databases to identify taxpayers wherein the cash transactions do not appear to be in line with the taxpayer’s profile. ITD has enabled online verification …

Steps to e-verify cash deposits made during demonetization (during 9th Nov to 30th Dec 2016) Read More »

Income Tax Deductions Under Section 80C and other sections – All That You Need To Know

While calculating my income tax for the year I knew the major sections under which I could reduce my liability. I thought of prodding further and was pleasantly surprised to find that there are a number of conditions under which deductions can be claimed. I am sharing with you a comprehensive list of income tax …

Income Tax Deductions Under Section 80C and other sections – All That You Need To Know Read More »