Most of the individuals do not disclose certain incomes as those are not noticed by them while filing there IT return. As per the provisions of IT act, all incomes are taxable if it’s not exempted specifically under the act. When you get your form 16 from your employer, it will contain only your salary for the financial year and not the other incomes that you are receiving … [Read more...] about Incomes to be disclosed in addition to your Salary
income tax return efiling
E Filing of IT return must for income over Rs. 5 Lakh
Efiling of your IT return is now mandatory for individual, including salaried taxpayers having taxable income of more than INR 5 Lakhs during the financial year ended March 31st 2013. Prior to this notification, efiling was mandatory for individuals having a taxable income for more than INR 10 Lakhs. Because of this amendment, most of the taxpayers having taxable income of … [Read more...] about E Filing of IT return must for income over Rs. 5 Lakh