Before getting into the steps of filing income tax return for a salaried individual, we want you to know the due dates of filing your tax return and late fee to be paid if its missed.IT return filing due date for a salaried person is 31st July of the following financial year to the relevant previous year for which ITR is to be filed. For the financial year 2018-19, due date … [Read more...] about 5 steps for salaried persons to file income tax return online
Due basis or receipt basis – When salary income is taxable
Before getting into what is due basis or receipt basis and when salary income is chargeable to tax, you first need to understand whether your income is taxable under the head salaries or under some other head of income.For instance, if you are hired by a software company as a contractor, amount incurred by you from the software company will not be taxable under the head … [Read more...] about Due basis or receipt basis – When salary income is taxable
Which ITR form salaried individual should file for FY 2018-19
Before finding which ITR form a salaried individual should file with government, you must know whether you are liable to file your tax return or not. As per the present tax laws, every individual whose total income before allowing deductions under Chapter VI-A, exceeds the maximum amount which is not chargeable to tax is obligated to furnish return of income on or before the … [Read more...] about Which ITR form salaried individual should file for FY 2018-19
How to rectify mistakes after filing income tax return
Mistakes after filing income tax return can be rectified by the assessee within the time limit allowed by our tax laws. In this article we will discuss how to rectify mistakes or omission and what is the time limit to correct mistakes or omissions after filing income tax return.Here are a few mistakes that can be rectified. Incorrect personal, email ID, mobile … [Read more...] about How to rectify mistakes after filing income tax return
How salary from previous employer reported to present company
If you are planning to switch jobs or already moved to a new company for better pay, then this article on why and how to report salary income incurred from previous employer to current organization might help you.In case you have worked for two or more companies during the previous year, then you can report your total salary income incurred from previous employers to the … [Read more...] about How salary from previous employer reported to present company