Income Tax Department has rolled out the new Annual Information Statement or AIS which provides one’s comprehensive view of information such as interest, dividend, stocks transactions, mutual fund transactions, foreign remittance information, etc. It has also...
When one sells Shares and/or Equity Mutual Funds one has Capital Gain on the sale of Equity. You cannot file the Capital Gain in ITR1. The article discusses the procedure to report Capital Gain on Sale of Shares and Equity Mutual Funds in Income Tax Return New Portal...
if the taxpayer is a resident of India, and he has paid taxes outside India, he can claim a credit of such foreign taxes paid against his tax payable in India. An individual taxpayer shall furnish Form 67 in order to claim Foreign Tax Credit. This article explains how...
Do you need to pay tax on dividends you received from Stock or Mutual Fund? What about the TDS on the Dividend? You may have got a dividend from the stock of a company or from a mutual fund in India. Dividend received on or after 1 April 2020 is taxable in the hands...
The Income Tax Department launched its new e-filing website www.incometax.gov.in on 7 June 2021 to provide a modern, seamless experience to taxpayers. In this article, we explore the new Income Tax website for electronic filing of Income Tax Returns in detail. You...
What do you need to know to File ITR for FY 2020-2021 or AY 2021-2022? This year you need to choose Old or New Tax Regime while filing ITR (Income Tax Return). There is no Excel or Java offline Utility for filing ITR but a new offline utility based on JSON for ITR1...
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