Deadline for filing ITR is 31 July for every assessment year. If you missed the deadline, you can always file a belated return up-to 31 March every year. If you have also skipped the deadline for filing a belated return for the year, 2016-17 and 2017-18, you cannot file a belated return anymore. Now, you… Continue reading
Take a loan for higher studies & save tax Section 80E- Deduction of interest paid on educational loan If you have taken an educational loan for higher studies (only full-time courses) for yourself, spouse or children and paying interest on it, you can avail the deduction for the interest so paid. Entire interest paid… Continue reading
Notices from the Income Tax Department are rarely pleasant. The natural reaction of a taxpayer upon receiving a notice is one of panic. However, once the momentary panic has subsided, you should carefully go through the notice and understand what it is about. It may not always be bad news. Often, the I-T department also… Continue reading