Category Archives: Income Tax Return

क्यों आयकर रिर्टन भरना जरूरी है ?

भारत में भरने के आयकर रिटर्न के क्या लाभ हैं  तथा क्यों आयकर रिर्टन भरना जरूरी है अगर आप की सकल कुल आय एक वित्त वर्ष (1 अप्रेल से 31 मार्च) मे 250000 रूपये से अधिक हो। अगर आप वरिष्ठ नागरिकों (60 साल से अधिक ) है तो आप को 300000 रूपये से अधिक हो तो… Read More »

Income Tax Returns filed Electronically are more Prone to Scrutiny: CBDT Criteria for Selection of Returns for Scrutiny

Statement “Returns filed electronically are more prone to scrutiny” is wrong. Every year income tax department randomly pulls out the list of people to scrutinize. Also CBDT has laid down the criteria for selection of Income Tax Return for Scrutiny. There are equal chances of getting scrutinized even if you paper file your return. So, there… Read More »

Clubbing of Income of Minor Child in Parents Income under Income Tax Act 1961

All income which arises or accrues to the minor child shall be clubbed (added) in the income of his parent. As per Section 64(1A), whose total income (excluding Minor’s income) is greater. However, if parents are separated, the income of minor will be included in the income of that parent who maintains the minor child… Read More »

Myth: Having Pan card makes it compulsory to file returns: Benefits of Filing Income Tax return

Statement that “Filing of Income Tax is compulsory for all PAN CARD Holder” is False. Having PAN card does not make it compulsory to file returns. If income is taxable in a particular year, then you need to file return. However if income is below taxable limits, you can still have a PAN card and… Read More »

E-filing is unsafe: Wrong, E-Filing is Safer than Physical Filing of Income Tax Return & Compulsory for Income Above Rs 5 Lakhs

E-filing of Income Tax Return is unsafe is myth  and E-Filing of ITR is now compulsory for Income above Rs 5 Lakhs and refund for e-filed return is issued faster than those filed physically.  Also E-Filing that is paper less filing is much more accurate, safer and faster and chances of error is very less… Read More »