Correction or changes to Permanent Account Number or PAN details are done only when any data relevant to the PAN card such as applicant’s name, father’s name, birth date, address etc required to be changed and updated with the income tax department’s records. You can obtain a PAN change request form from any TIN Facilitation center or online from NSDL Site or UTI Site. After … [Read more...] about How to make changes to the existing PAN card?
Income tax
Permanent Account Number – Allotment of Physical PAN Card
Permanent Account Number or PAN is issued by the income tax department in India. Now it’s mandatory to quote a Permanent Account Number or PAN while filing your income tax return in India. PAN is also required to be quoted in transactions such as cash deposit of more than Rs 50, 000, sale, purchase of immovable property or motor vehicle, and other transactions mentioned in … [Read more...] about Permanent Account Number – Allotment of Physical PAN Card
Tax provisions for Employee Provident Fund contribution in India
Employee Provident Fund is a retirement scheme. Credit balance in the employee provident fund includes employee’s contribution, interest on employee’s contribution, employer’s contribution and interest on employer contribution. The sum that is accumulated through EPF is paid at the time of termination or resignation. In this article we will be discussing different income … [Read more...] about Tax provisions for Employee Provident Fund contribution in India
Useful tips for filing your income tax returns
There are certain things which each and every individual has to keep in mind while filling income tax return. If you are filling your income tax return before the due date then you have a chance to revise or file a modified return in case of mistakes otherwise you will be in trouble and can not revise your income tax return. Here are a few tips to ensure an error-free … [Read more...] about Useful tips for filing your income tax returns
Tax rate slab for Association of Persons (AOP), Body of Individual (BOI), Firm and Comppanies
Following tax rates are applicable to association of persons or a body of individual, firm and companies for the assessment year 2013-14 and 2014-15. Its required that every such AOP, BOI, Firm and companies pay their income tax liabilities based on the rates that are applicable to the assessment year relevant to the previous year. Following rates that are listed below … [Read more...] about Tax rate slab for Association of Persons (AOP), Body of Individual (BOI), Firm and Comppanies
Which Income Tax Return Forms to choose for tax filling
Different Income Tax Return or ITR forms are specified for different category of persons to fill up and submit their income tax return in that specified format. Followings are different Income Tax Return forms as specified in IT Act; Income Tax Return (ITR) forms Applicability of ITR forms ITR1 For individual having income from salary/one house property (not being … [Read more...] about Which Income Tax Return Forms to choose for tax filling
Income Tax Rates for Assessment Year 2013-14 -For Individual and HUF
Income Tax Rates for the assessment year 2013-14 will be applicable to the financial year ending 31st March 2013. This means its application for the income generated between the 1st of April 2012 to 31st March 2013. Different slab rates are mentioned in IT act for different categories of persons and based on this a person is taxable under IT act. Tax Rates for Financial … [Read more...] about Income Tax Rates for Assessment Year 2013-14 -For Individual and HUF
How to pay Income tax online in India
Income tax payments can be done online by a person who is having net banking facilities in any approved bank like HDFC, SBI, and ICICI, etc. If you do not have net banking account then you can use your friend's, relative's or any other individual's bank account for payment of your tax. However, while paying, you have to enter your own Permanent Account Number or PAN of the … [Read more...] about How to pay Income tax online in India
How to check form 26AS online – Income Tax credit statement
Form 26AS is a very essential document for filing IT return. When you pay income tax at the end or in between the financial year against your Permanent account number (PAN), it automatically gets reflected in a statement maintained by the IT department known as Form 26AS or Income Tax Credit Statement. If someone else like employer or bank or any other party, has deposited … [Read more...] about How to check form 26AS online – Income Tax credit statement