Taxes
Due Date Of Filing of Income Tax Returns Extended To 4th August 2010
Aug 1st
The Central Board of Direct Taxes (CBDT) has decided to extend the due date of filing of income tax returns to 4th August 2010 for taxpayers for whom the due date ends today, which is 31st July 2010. All paper returns or e-returns filed on or before 4th August 2010 will be considered as filed within the due date.
The decision was taken in view of some technical snags in the e-filing computer system, and inclement weather at various locations, due to which taxpayers have reported difficulties in filing or uploading income tax returns.
Password to open your ITR V/ ITR-Acknowledgement
Jul 30th
After a lot of searching, have finally got the password logic for the ITR acknowledgement that’s made available to users who file their returns electronically through the www.incometaxindiaefiling.gov.in website.
The password is a combination of the pan (in lower case) and the date of birth in the format ddmmyyyy.
For example, 1) if the pan is AAAAA2222A and the date of birth is 07-Jan-1978, then the password will be aaaaa2222a07011978
Please note that you will need Adobe Acrobat reader to open the password protected PDF file.
14 tax-free incomes for FY 2009-10
Nov 7th
In a few months’ time the taxman will coming knocking on your door. However, he cannot tax you on the following 14 important items of income and receipts, as they are fully exempt from income tax and which a resident individual Indian assessee can use with profit for the purpose of tax planning.
Know your challan status via SMS
Jun 21st
photo by Erik Schlange
National Securities Depository Limited (NSDL) has launched a Short Message Service (SMS) based facility to know the status of challans. The procedure for availing this facility is as under:
1. The tax payer can send an SMS to 575758 with a message containing the word CSI followed by a space and CIN provided by the respective Bank at the time of making the Direct tax payment.
2. The CIN should be separated by comma (,).
3. Challan Identification Number (CIN ) consists of details such as BSR Code of Collecting Branch (seven digit) , Challan Tender Date (DDMMYYYY) and Challan Serial No (length less than or equal to 5 digit) and Amount. Continue reading “Know your challan status via SMS” »
2 strategies to help save tax without spending a penny
Mar 25th
Entry loads have been waived off on applications that are submitted directly to the mutual fund house. For MF investors, who invest either by way of SIP (Systematic Investment Plan) or as bulk investing, it could mean saving quite a sum of money – around 2% of the investment amount. So consider investing directly in ELSS (Equity Linked Savings Scheme) as it could be a smart and cost-effective way to do so. If you don’t have the money, churn the existing ELSS portfolio – as entry loads are not applicable for direct investing. Continue reading “2 strategies to help save tax without spending a penny” »
