If a salaried employee does not possess Form 16, he can still file the I-T Return with the help of his salary slips and Form 26 AS.
Use of the incorrect form will result in your return being treated as defective, points out Suresh Surana, founder, RSM India.
Titan Industries Ltd, leading manufacturer and retailer of watches and jewellery, is anticipating a business of over Rs 3,000 crore by the end of this financial year.
There are judicial precedents where it has been held that if payment is made for temporary disablement, it would be taxable, points out Tinesh Bhasin.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
As protectionism grows from the United States to Australia, Sanjay Kumar Singh draws up a comprehensive financial checklist for those shifting to India.
'There are a lot of companies that have been struggling really hard expecting to do better year after year.' 'All these people will think now, "Let me not fight any more. Let me end this".'
Both NRIs and those who make payouts on sale of property need to understand the TDS provisions that are applicable or risk punishment, warns Sanjay Kumar Singh.
Incomes such as dividend, interest on tax-free bonds, eligible gifts, etc should also be reported even though they are tax exempt, suggests Sanjay Kumar Singh.
It's not unusual for the tax departments to freeze bank accounts and there have been instances of the authorities recovering the outstanding from the bank, though such course of action is not common.
Whether you give stocks held for more/less than a year, benefits are nominal; donating cash is better.
Some of the disclosures in the ITR form, under review at present, increases procedural hassles for expats
If you receive an email claiming to be from the income tax department that there's an outstanding tax demand that you need to pay immediately, don't get alarmed. Get cautious.
If you were deputed abroad, filing income tax can be tricky.
While the crackdown is a major step in combating tax evasion and improving transparency, it might also impact the flexibility and genuine corporate structures created to achieve legitimate objectives, says Suresh Surana.
'The professional or the freelancer needs to pay taxes from his pocket first and then wait for payments from his clients.'
'We are in the reverse gear and we are not there anywhere compared to the rest of the world'
Check the status and immediately act on it
New ITR form may be simpler, but some changes could stump you.
Taxpayers might face several issues while filing returns this year.
Unless they have capital gains or assets abroad, most individuals will need to file ITR-1 or ITR-2A.
Do not declare them under Income Tax.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances