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Filing of tax is compulsory for everyone whose gross total income - the income under the five heads (salary, business, capital gains, house property or other sources) before allowing for any deductions such as insurance premium - exceeds the basic exemption...
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A digital signature is an attachment with an e-mail or data exchange which authenticates the identity of the sender. It also ensures that no alterations are made to the data once the document has been digitally signed. Companies and businessmen use digital...
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You are likely to gasp if your grandfather were to sit you down and talk of taxes. Yes, in the 1950s, as much as 98% of our income went towards payment of taxes wealth, expenditure or income tax. Better sense has prevailed since then and tax rates have...
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It doesn't matter if you have filed your return and paid your taxes. The tax authorities issue notices for several reasons. The notice could be to verify the details reported in a tax return, to seek further information or to ask a person to file...
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Unlike life, the tax department is willing to give you a second chance. Even if you forget or are unable to file your return of income for a year, the department allows you to file a 'belated return'. Of course, there's a cost attached to...
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