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Income tax return is the form in which assesses file information about his/her income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses. [1]
Normal return (§139(1)) – Individuals with an income above ₹ 250,000 (under age 60), ₹ 300,000 (age 60 years to 79 years), or ₹ 500,000 (over 80) must file a return. Due dates vary. A belated return, under §139(4), may be filed before the end of the assessment year.
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In December 2016, the Income Tax department received more than 4000 emails, on black money holders, in India, within 3 days, when Income Tax Department, issued in public notice an email to report black money. [36] Huge amounts of cash in the form of new notes were seized all over the country after the demonetisation. [37] [38]
Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
The new requirement came into place on 1 July 2016 for large companies. Small and medium-sized businesses (less than 250 employees) were required to implement the requirement by 1 July 2018. [18] Portugal: SAF-T (PT) 1.04_01 [3] December 2, 2016: SAF-T v1.0: Portuguese Tax Authority / Autoridade Tributária e Aduaneira: Romania: SAF-T: 2.4.6 ...
However, if an employer has less than 20 employees, he is required to pay quarterly(i.e. by the 15th of next month from the end of the quarter). Person responsible to pay professional tax In case of employees, an employer is the responsible to deduct and pay professional tax to the State Government subject to monetary threshold if any provided ...
File:HUD-1 Settlement Statement current 2016.pdf. ... Download QR code; In other projects ... Version of PDF format: 1.6