News & FAQs

Brought forward losses can be setoff – Returns of subsequent years not to be considered

News & FAQs | By ALOK PATNIA | Dec 22, 2011

Filling of return within due date u/s 139 (1) is very important especially if any loss has been incurred in the year for which return is ...

Avoid clubbing of minor child income

News & FAQs | By ALOK PATNIA | Dec 22, 2011

Most of the taxpayer invests in the name of their child and enjoy the deduction in the year of investment but as they are not well conver...

Premium paid under different policies- Tax benefits

News & FAQs | By ALOK PATNIA | Dec 20, 2011

Many of us start looking for optimal investment plan only in February or March, just before the Financial Year is getting over. One must ...

Direct Tax Code – Exemptions and Deductions available to taxpayers under the New Law

  As Direct Tax Code (DTC) is being proposed to be introduced from next year, taxpayers are more concerned with the provisions relating ...

Govt Should Enhance Basic Tax Exemptions – To Curb Black Money

News & FAQs | By ALOK PATNIA | Dec 15, 2011

Black money is nothing but “tax-evaded income”. The accumulation of black money has gained momentum over the years and the reason beh...

Annual deposit in PPF raised to Rs.100000 – Save more and Secure !

News & FAQs | By ALOK PATNIA | Dec 7, 2011

The finance ministry has notified rules which will provide small savings account holders to earn higher returns and accordingly it had ra...

Return 2010-11- Things to do before 31st July

All the individuals and business entities, other than those who are not liable to get their accounts audited are required to submit their...

Taxmantra.com is now E-Return Intermediary for Online Return Filing/ Tax Filing – Authorised by...

We at Taxmantra.com always strive to provide cutting edge service in the field of taxation and finance to our users. We innovative, put o...

Things to do before 31st July 2011 – Individual Taxation

Salaried Individuals and other non-audit tax payers are required to file tax returns compulsorily before 31st July of the Assessment Year...

New Presumptive taxation u/s 44AD from AY 2011-12

A new section 44AD has been incorporated in the Income-tax Act to provide for special provisions for computing business profit on presump...

Reduction in qualifying age and enhanced limit for senior citizen

As per the Income Tax Act, 1961 qualifying age limit of senior citizen is 65 years means a person who is 65 years or more at any time dur...

Its official No ITR/ Tax Returns upto 5 Lacs – If only salary and interest income from bank...

News & FAQs | By ALOK PATNIA | Jun 23, 2011

In exercise of the powers conferred by sub-section (1C) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government h...

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