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Category of Tax Payers Can’t Switch Between Old and New Income Tax Regimes Every Year

Know the category of Tax Payers who can't choose between Old & New Tax regime every year - The Budget of FY 2020 proposes to provide option a taxpayer to choose between the existing income tax regime and a new...

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New Income Tax Slab Rate for Financial Year 2020-21

New Income Tax Slab Rate for FY 2020-21- Union Finance Minister has proposed new income tax slabs and lower rates on Income Tax slabs up to Rs 15 Lakhs. Catch is - These income tax rates are optional and are...

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5 Key Changes in Income Tax Provisions  Announced in Budget 2019

5 Key Changes introduced in this year Income Tax Slab - Income tax slab rates unchanged but announced a slew of new income tax proposals that could impact many tax payers.  The government announced that Aadhaar and PAN would be...

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Income Tax Slab 2019-20 – New Tax Rules Explained

Finance Minister has announced the Income tax rebate in FY 2019-20 with complete tax rebate on income up to Rs 5 lakh. He has declared complete rebate in income tax on taxable income up to Rs 5 lakh. This is...

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Last Date For ITR Filling Extended to 31st August

Good News for Income tax payers - The Income Tax department has extended the  ITR filing due date by one month to 31st August from existing 31st July. The extension of filling date comes as a relief for all especially to...

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Download Income Tax Calculator FY 2016-17, AY 2017-18 in Excel Format

Income Tax Calculator for FY 2016-17 and AY 2017-18 is now available for download in excel format exclusively on Askbanking.com. This Income tax calculator is very much useful for Government employees especially for Bank employees for easy calculation of their...

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Why is it needed to File Tax Return of Dead Person ?

As per Income Tax rule section 159 , it is necessary to file tax return of dead person if liability incurred. It is the duty of the legal heir to file the tax returns of dead person or any one...

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How To Fill Form 10 (E) For Income Tax Rebate on Arrears Paid ?

How To Fill Form 10 (E) For Income Tax Rebate on Arrears Paid by employer– After the [highlight]10th Bipartite settlement[/highlight] arrears were paid to all the Bank Employees from 01st November 2012 in the financial year 2015-16. Due to payment of...

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