According to the recent news from the Income Tax Department, rent receipts to reduce tax cannot be faked anymore. Producing fake rent receipts from parents, relative and friends has often been a common practiced followed by salaried employees in order to get exemption on HRA or House Rent Allowance. This could include practices such as stayingRead more
In today's post, we will be talking about the new operation launched by the Income Tax Department in relation to the demonetization called the "Operation Clean Money". Due to demonetization, a large number of people made cash deposits to the banks. Operation Clean Money has been launched to verify these large cash deposits. After the depositRead more
In a new move by the CBDT, salaried taxpayers are to get an SMS alert for the TDS deduction made by the employer. This move was launched by the Finance Minister, Arun Jaitley to minimize the TDS mismatch.This new change has come into picture taking into consideration the small taxpayers who cannot afford to pay twice the amount of tax or be involvRead more
As a gesture of thanking the taxpayers, Appreciation certificate and badges from the ITD has been sent out to all those who have paid their taxes.Taking a new step taken the by income tax department, the ITD thanks the taxpayers by sending them a "certificate of appreciation". The appreciation certificate from the ITD contains the signature from thRead more
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