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All about Intimation u/s 143(1) received from Income Tax Department

Intimation u/s 143(1) received from Income Tax Department When you have received an intimation there are things to cheer for and may be somethings to further look into. Firstly the good thing is that the Income Tax Return which you have filed for the relevant year is received and processed by the Income Tax Department. … Continue reading “All about Intimation u/s 143(1) received from Income Tax Department”

Income Tax Slab Rates for Financial Year 2019-20 (Assessment Year 2020-21)

Income Tax Slab Rate for FY 2019-20 (AY 2020-21) for Individuals: Individual (resident or non-resident) below the age of 60 years on the last day of the relevant previous year: Net Total income Income-Tax rate Up to Rs. 2,50,000 Nil Rs. 2,50,001 – Rs. 5,00,000 5% Rs. 5,00,001 – Rs. 10,00,000 20% Above Rs. 10,00,000 … Continue reading “Income Tax Slab Rates for Financial Year 2019-20 (Assessment Year 2020-21)”

What to do when your ITR becomes defective return? Learn all about defective return.

Welcome to our new post on income tax.  If you are reading this post, then most probably you have received a notice from the income tax department stating that your return has become defective.  Don’t worry, this happens to most of us.   In this article, we will try to explain how to deal with … Continue reading "What to do when your ITR becomes defective return? Learn all about defective return."

What is Director Identification Number (DIN)? It’s importance and how to apply?

Director Identification Number (DIN) as the name suggests ‘identify’ the directors, whether existing, proposed or new, electronically. It is a unique identity number (consisting of 8 digits) that helps in representing the directors on a common platform and maintaining all the information related to them in a database. Once allotted, it can be valid for … Continue reading "What is Director Identification Number (DIN)? It’s importance and how to apply?"

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