Author: CA Tarannum Khatri

How to register your account on income tax website

Income tax e filling is very simple. First step of income tax e filling is registration on income tax e filling website. In this post, I have narrated the steps for e filling portal member registration. Step 1: Go to  income tax  e filling website. step 2: Click on register to yourself seen on right side. After clicking, you can see registration form. , select your category from Individual, HUF, company , firm, AOP etc. Your category will be the one which is applied during pan application. So you can know your category by know your jurisdiction section. in most of the cases, it is individual. Step 3: After filling appropriate category, you have to fill another form. Enter basic details – in which you have to provide PAN number, date of birth,primary email id, Name (as per pan card)(surname first, after that middle name, after that first name),  primary mobile number. Step 4: File another form named registration form. In which you have to enter Password -it must be combination of numbers, capital letters, small letters, special characters. Example: Tarannum@007, TARANNUM@786, Pranay@143 etc. (please write password in some book or note for future reference ) your communication address, secondary mobile number and email id which is optional, primary secret question and its answer and  secondary secret question and its answer. Please select the question and answer which you can...

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How to view and download form 26AS for income tax return

You may aware of form 26AS. It provides you exact idea about TDS, TCS, tax , refund status during the year. While filling income tax return, you should consider all the data of form 26AS. You can download very easily. For it , go to Income Tax Website. Click on view form 26AS shown under services on left column bar. If you are registered user, log in to your account. If you are new to income tax e filling website, read my post how to get registered on income tax e filling website. Enter your user ID and password, date of birth. If there is any  mistake, red error will be shown above. Correct it and again write right data. User ID will be Your PAN CARD number. If you forget password, read my following post. How to recover income tax password on income tax site? After successful registration, you will be redirect to TDS CPC site. Click on confirm. Now click on view tax credit (form 26AS). On clicking you can see your name , address and Pan number. Select assessment year for which you want to download form 26AS. If you do not know which assessment year is applicable to you, read my post what is assessment year and financial year?. After selecting assessment year, select view as PDF and click on view/download button. Save the file...

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how to choose income tax return form

Income tax return filling is easy.But you should be careful in choosing return form or utility. That’s why I have written this post.   ITR 1 (SAHAJ) Income from salary/pension. or Income from one house property (excluding cases where loss is to be brought forward) or Other sources income excluding income from winning from horse races and lottery. For individual assessee.   Who can not use ITR 1? Person having income from more than one house property.or Income from capital gain. or Income from agriculture/ exempt income more than Rs. 5000 Income from speculative income.or Person claiming relief for foreign tax u/s 90,90A or 91.or Person having foreign asset or financial asset or signing authority outside India.   ITR 2 :   Income from salary/pension or Income from house property.or Income from capital gain or Income from other sources Person having clubbing income. Individual and HUF   Who can not use ITR 2? Person having business or profession income.   ITR 3: Individual /HUF being partner in firm and who do not have business as proprietor.   ITR 4: For individual or HUF assessee doing business or profession as proprietor.   ITR 4S (SUGAM): For Individual or HUF filling return under presumptive taxation u/s 44AD or 44AE or Income from salary/pension Income from house property (not brought forward loss) or Income from other sources (not having lottery income or...

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E filling of ITR income tax return in 7 steps

Last  date for filling income tax return  is 31st July. If you have not filled return, you may be searching for tax consultant for help. You don’t need to search now. Because here I will provide you detailed guidelines for filling ITR online. For choosing return utility, read my post which return is applicable to me?   Step 1: Download ITR  utility from Income Tax Site You may also Download ITR  utility from download section of tax masala. The utility can run on windows 7 or above and Java runtime environment version 7 update 13 or above should be installed.You can google and search Java for installation of java version. Also download file – How to use ITR utility?   Step 2: Unzip the file. Open ITR utility.Read instruction. Yes You have to. 😛 Now go to personal information and fill the details.   Step 3: Filling the right details in Utility. Personal details: Fill your personal information as per PAN CARD. For details of income tax ward circle, go to income Tax Website and click know my jurisdiction. You can get details by entering your pan number. Fill your address details. Enter your mobile number and email address. It is mandatory. Fill right data because all the communications will be sent on them. Fill your tax computation information.Don’t forget to fill TDS information, bank a/c number correctly. Your refund...

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Gujarat Modified Budget highlights 2014-15

Gujarat modified budget highlights (2014-15) are as under Reduction in tax credit to 1% (before rate 2%) for purchase of goods made within the state and used in interstate sale. This change will be applicable from 1/10/2014. Benefits of this changes is not available to petroleum products and natural gas. Exemption to LPG gas for domestic use in the state has been deleted. New mechanism will be applied for gas companies. In state, many civil work contract and developer has evaded work contract tax. Work contract tax rate for lump sum payment is 0.6% with effect from 2003. To collect the tax retrospectively, the government will announce the scheme for payment of lump sum tax on work contract. The payer can get exemption from interest and penalty.The scheme shall be effective for 180 days. Stamp duty for transfer of immovable property will be increased at 3.5% from 1%. If partner brings immovable property in partnership firm as capital, stamp duty at the rate of 3.5% will be levied on that transfer. This changes will be for credibility of partnership firm. Change in Motor Vehicle Tax Rs. 800 per year on per 1000 kilometers or part thereof will be levied on goods carriage vehicles having gross vehicle weight exceeding 7500 kilometers. The rate of motor vehicle tax on designated omni bus and luxury or tourist designated omnibuses licensed to carry 6...

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