Tax Guru Anil Rego answers your personal income tax queries
Use of the incorrect form will result in your return being treated as defective, points out Suresh Surana, founder, RSM India.
The new return forms also make life easier for expatriates.
There has been criticism of the new tax forms with experts and consultants saying government was seeking too much data. They felt that the addition of new information would make the process of filing returns difficult.
Avoid common mistakes, figure out how to file returns if you invest in stocks and other concerns
A salaried individual needs to file returns as a business owner if s/he has a high turnover while trading in stocks or futures & options, reveals Tinesh Bhasin.
Penalty can be levied at 100-300 per cent of the tax evaded, while tax is imposed at the highest rate of 30 per cent.
Even after filing your income tax return online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR.
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