Blog

2015

Tax deductions you hardly knew

  • Although 80C deductions are the most popular ones there are some less known deductions that may also provide some major tax savings.
  • Though most deductions need to be claimed before your employer has deducted the income tax, the income tax return filing stage is your last chance to claim the missed tax benefits.
  • Check this list of deductions often forgotten by taxpayers to avoid remorse later.

Archive


2015
  • My taxes have been deducted at source, no more tax to be paid.Have you been thinking your responsibility ends there and you needn’t file returns?
  • Wake up! You need to do a fair amount of calculation based on your tax bracket and assess whether the tax deducted is sufficient to meet the liability. You will either have to pay more taxes or request refunds based on your total tax liability.
  • Find out if you have been committing other bloopers, while filing tax returns.

2015
  • Due date for filling of Income Tax Returns has been extended form 31-8-2015 to 7-9-2015 for Gujarat State, vide CBDT Notification dtd: 31-8-2015.
  • Notification is attached herewith.

2015
  • With the Income Tax Department becoming net savvy and going online, it has become very easy for them to identify discrepancies in your papers and to keep a close eye on almost every financial transaction. Therefore, while filing return, one needs to be extra careful. Any wrong details furnished might put you in trouble.
  • From past few years, almost every taxpayer is receiving notices from Department. Now, it has become important that every provision and clause of tax laws shall be strictly abided. There are few reasons due to which notices are being issued and these reasons are very common among taxpayers.

2015
  • In order keep an eye on small assessees, who usually don’t fall in the ambit of service tax audits, CBEC has issued circular 185/4/2015- ST wherein check-list & revised guidelines for carrying out detailed manual scrutiny of service tax returns have been prescribed.
  • Highlights of the manual has been produced here under:
    1. To be made effective from 1st Aug’15 onwards;

2015

How to Convert Facebook Profile Into A Business Page

  • The method is very simple as there will be no need to individually invite all your friends to like your page when you convert the Facebook profile into the page. So just follow up some of simple steps below to proceed.

Before migration:

  • First, let me back up and explain. You need to download your Facebook profile information because not everything will move to your new business Page when the conversion is completed. The only items transferred over will be your current profile picture and your current friends and subscribers (who will be converted to Likes). You’ll also keep your current username.

Financial Management