Income Tax Calculator for Online Income Tax Calculation • A rebate of Rs. 2000 (Rs. 5000 form A.Y. 2017-18) is available for individual (who is resident in India) with income less than Rs. 5 lacs u/s 87A of Income Tax Act. • If you attain the age of 60 years (senior citizen) or 80 years (super senior citizen) anytime during this Financial Year, your age will be regarded as 60 years/ 80 years as the case maybe. • Education cess @ 3% of the total of Income Tax for all individuals will be applicable. • Surcharge of 12% (15% for A.Y. 2017-18) will be applicable if your total income exceeds Rs. 1 crore. How to calculate TDS amount? In order to calculate the amount of TDS per month we need to calculate the salary for the year and deduct all the amounts that are exempt from taxes and other deductions that reduce the taxable income. In order to calculate this amount the accounts department asks for some tax declarations that need to be given based on the amount of investments that you will make during the year. Mr. Mr. Calculation of taxable income:
Understand How to Read Form ITR-4S | Income Tax Forms | H&R Block The Sugam ITR-4S Form is the Income Tax Return form for those taxpayers who have opted for the ‘Presumptive Income Scheme’ as per section 44AD and section 44AE of the Income Tax Act. However, if the turnover of the business mentioned above exceeds Rs. 1crore, the tax payer will have to file ITR-4. ITR 4S can be used by following individuals to file returns This return form is to be used by an individual/ HUF whose total income includes: Business income where such income is computed in accordance with special provisions referred to in section 44AD and 44AE of the Act for computation of business income; or Income from salary/pension; or Income from one house property (excluding cases where loss is brought forward from previous years); or Income from other sources (excluding winning from lottery and income from horse races). Note: a: The income computed shall be presumed to have been computed after giving full effect to every loss, allowance, depreciation or deduction under the Income Tax Act. b:
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The Black Money Problem in India | Income Tax Return Blog Numerous Indians have evaded their taxes over a period of time, and the amount earned on the black market has accounted for ‘Black Money’. Various reports have been presented in the past; some saying that the total amount of money stashed in Swiss banks by Indians exceeds 12 trillion US Dollars, and some claiming the amount to be 2 billion US Dollars. The director of Central Bureau of Investigation (CBI) has said that Indians own about 500 billion US Dollars in the form of illegal funds, mostly placed in the foreign countries. India’s recent Prime Minister, Narendra Modi, has made a promise of bringing back all the black money stashed abroad into the country. While this has managed to please the crowds protesting against India’s black money problem to some extent, the discovery of unaccounted money and legal matters of tax treaties are major hurdles. Experts are of the opinion that most of the black money today has been laundered back into the country by the way of foreign investments.
Taxation: Why Is It Important to Pay Your Income Tax Returns? Have you ever wondered why paying income tax is so important? You may have come across people who break the laws and do not pay it to the Government. Later, they have to bear additional charges for the same. In India, paying income tax is a must for every citizen who earns income from any kind of source. The Government has clearly laid out the various slabs of income and the tax charged on each. The income earned by every person is recorded by the Government whether or not you pay the taxes or do not. Rahul was pursuing his masters from a Government college. Rahul did not take this matter very seriously. Therefore, income tax returns cannot be avoided.
What is ITR-1 Sahaj Form & How to Read Form ITR-1|H&R Block ITR-1 is the form to be used by salaried individuals to file taxes. However there are certain conditions that need to be fulfilled. ITR-1 can be used by following individuals to file returns Individuals who earn income from: salary/pension one house property (excluding where loss brought forward from previous year) other sources (excluding winning from lottery and income from race horses) Agricultural income less than Rs. 5,000 However, if you have income from business, profession or capital gains then you cannot use ITR-1 to file your return. Form ITR-1 Click on the image below to find Form ITR-1: Understanding Form ITR-1 Form ITR-1 has the following components: Part (A) Personal Details: In this section you are required to fill your personal details like name, sex, age, address, contact number etc. Part (B) Gross Total Income: Here you can fill details about your Gross Total Income. Part (C) Deductions and Taxable Total Income: Part (D) Tax Computations and Tax Status: Bank Account: Verification:
Book Gulf Air Flight Tickets Online in Dubai & UAE - Musafir When it commenced operations in 1950, Gulf Air was called Gulf Aviation Company and had started as a small scale commuter server between the oil feeds in the Gulf region. It also catered to the needs of some regional customers. Today, it is fully owned by the Kingdom of Bahrain through Bahrain Mumtalakat Holding Company and has grown into a major international airline that offers services across multiple destinations around the world. The company believes in providing customers the latest aviation technology with state-of-the-art aircraft and seven seater planes, while offering traditional Arabic hospitality to all passengers. Over the years, this airline has been nominated for several awards and accolades, such as the prestigious Middle East’s leading airline, the Middle East’s leading cabin crew, the Middle East’s leading airport lounge and also the world’s leading airline, among several others. The fleet Destination On board services Online booking and baggage
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Video: Online Tax Filing Do you shop online? Common people Yes of course Why? Easy, affordable, convenient, many options sitting at one place. Do you file taxes online? No, we are not even aware that we can do it. If you shop online then why don’t you file your taxes online? It will be very complicated and not convenient since I will have to sit with a lot of files and paperwork and I am not very good at it. Did you know you can get H&R Block experts to file your taxes online with these benefits starting at @299 only! If it is possible then yes, it will make my life much easier.
NCDs & ITS BENEFITS - industryarticles.over-blog.com ncd bonds October 27 2016 Written by Mohammed khan and from Overblog Whenever the company wants to raise money from the public it issues a debt paper for a specified tenure where it pays a fixed interest rate on the investment. Non Convertible Debentures You need to have a usual trading and a Demat account to buy a nonconvertible debenture. You log on to your trading account and or ask your broker to buy you an NCD on your behalf.The manner in which you buy the NCDS is the same as shares .The NCDS that you buy are held in your Demat account.The interest on NCDs is determined at the fixed coupon rate which means you get your interest on the date fixed by a company. Buying NCDs has simply however been broadly classified into two parts Public Issue- During the public issue of bonds you can invest in them by submitting a physical form furnishing the details as requested. Secondary Issue- NCD bonds are listed on NSE or BSE or both sometimes after the public issue. How does it work? Share this post
Returns under Goods and Services Tax | H&R Block GST is a self-assessed destination based taxation system. The submission and processing of return is an important link between the taxpayer and tax administration. In this guide you will find key information regarding the process related to filing of returns under GST. Who Needs to File Return in GST Regime? Every registered dealer is required to file return for the prescribed tax period. Government entities / PSUs , etc. not dealing in GST supplies or persons exclusively dealing in exempted / nil rated / non-GST goods or services would neither be required to obtain registration nor required to file returns under the GST law. However, state tax authorities may assign departmental ID to such government departments / PSUs / other persons and will ask the suppliers to quote this ID in the supply invoices for all inter-state purchases being made to them. Salient Features of GST Returns a) Filing of returns would only be through online mode. d) There would be no revision of returns.