Category Archives: Income Tax FAQ

​Is leave encashment taxable as salary?​​

By | December 4, 2017

​Is leave encashment taxable as salary?​​ It is taxable if received while in service. As per Section 17(1) of Income Tax Act  : (1) “salary” includes— —- (va) any payment received by an employee in respect of any period of leave not availed of by him; Leave encashment received at the time of retirement is exempt in the… Read More »

Proof to be given to employer for adjustment of House Property Loss from Salary Income

By | December 4, 2017

What are the proof to be submitted  to employer for adjustment of House Property Loss from Salary Income The employee has to furnish before the employer a i) certificate from the person to whom any interest is payable on the borrowed capital specifying the amount of interest payable. In case a new loan is taken… Read More »

Income Tax on Arrear of Salary

By | December 4, 2017

Income Tax on Arrear of Salary Are arrears of salary taxable?​​​​ Yes. However, the benefit of spread over of income to the years to which it relates to can be availed for lower incidence of tax. This is called as relief under Section 89​ of the Income-tax Act.​​  The relief under section 89(1) is arithmetical.… Read More »

Income Tax on Gratuity

By | December 4, 2017

What is the taxability of Gratuity under Income Tax Act 1961 of India? ​​In the hands of a Government employee , Gratuity receipts are exempt from tax [ Section 10(10)(i) of Income Tax Act ] In the hands of non-Government employee,  Gratuity is exempt subject to the limits prescribed in this regard [Section 10(10)(ii)  and… Read More »

When Pension Income is not Taxable under Income Tax Act ?

By | December 4, 2017

When Pension Income is not Taxable under Income Tax Act ? In following cases Pension income is exempt : i) Pension received by an individual who has been in the service of the Central Government or State Government and has been awarded “Param Vir Chakra” or “Maha Vir Chakra” or “Vir Chakra” or such other… Read More »

Is Income Tax Act applicable only to residents in India?

By | December 2, 2017

Is Income Tax Act applicable only to residents in India? No, Income Tax Act applies to all persons who earn income in India, whether they are resident or non-resident. Related Post Income Tax Books Income Tax Press Release Income Tax Notifications Income Tax Circulars Income Tax Instructions Income Tax Office Memorandum Income Tax Judgments Income… Read More »

Income from Animal husbandry is Agriculture Income ?

By | December 1, 2017

Income from Animal husbandry  is Agriculture Income ? Under the Income-tax Law is income from animal husbandry conside​​red as an agricultural income? Answer , ​No. For meaning of Agricultural Income refer section 2(IA)​ of the Income-tax Act. Related Post Income Tax Books Income Tax Press Release Income Tax Notifications Income Tax Circulars Income Tax Instructions Income Tax… Read More »

Income Tax on Agriculture Income

By | December 1, 2017

Income Tax on Agriculture Income I am an agriculturist. Is my income taxable under Income Tax?​​​ Agricultural income is not taxable. However, if you have non-agricultural income too, then while calculating tax on non-agricultural income, your agricultural income will be taken into account for rate purpose. For meaning of Agricultural Income refer section 2(IA)​ of the… Read More »

Why Income Tax Paid / TDS deducted not appearing in 26AS (Tax Credit ) Statement

By | December 1, 2017

What are the reasons for  tax Paid / tax Deducted  not reflecting in 26AS Statement ? ​ The possible reasons for no credit being displayed in your Form 26AS can be: Deductor/collector has not filed his TDS/TCS statement; You have not provided PAN to the deductor/collector; You have provided incorrect PAN to the deductor/collector; The deductor/collector has… Read More »

How to check Payment of Income Tax paid to the Govt

By | December 1, 2017

How can I know that the Government has received the amount deposited by me as Income taxe in the bank? The NSDL website [http://www.tin-ns​dl.com] provides online services called as Challan Status Enquiry. You can also check your tax credit by viewing your Form 26AS from your e-filing account at www.incometaxindiaefiling.gov.in Form 26AS will also disclose the credit of TDS/TCS… Read More »

How to check you Income Tax Jurisdictional Assessing Officer

By | November 30, 2017

How to know my Jurisdictional Assessing Officer details of Income Tax ? To know your Jurisdictional Assessing Officer details -> Please log on to https://incometaxindiaefiling.gov.in and click on “Know Your Jurisdictional AO” under “SERVICES” menu.. Related Post Income Tax Books Income Tax Press Release Income Tax Notifications Income Tax Circulars Income Tax Instructions Income Tax… Read More »

How to pay outstanding demand of Income Tax

By | November 30, 2017

How to pay outstanding demand of Income Tax How can I make payment for the outstanding demand of Income Tax? Tax payments can be made through a bank authorized to collect Income Tax payments, after filling in the necessary particulars in the Challan provided for this purpose or Online tax payments can be made through… Read More »

How to rectify Income Tax demand ?

By | November 30, 2017

How to rectify the Income Tax demand Whom should I approach to rectify the Income Tax demand amount? The return has been processed at CPC, Banglore  :- File online Rectification to CPC by logging into https://incometaxindiaefiling.gov.in with your user ID and password. Select “Rectification request” under e-file tab and enter the necessary details. The return… Read More »

How to Change Secret Questions on Income Tax Website

By | November 30, 2017

Change Secret Questions on Income Tax Website How to Change Secret Question(s) and Answer(s) on Income Tax website ? Perform the following steps to change the Secret Question(s) or Answer(s): Step 1 : Logon to the ‘e-Filing’ Portal www.incometaxindiaefiling.gov.in Step 2 :Go to the ‘Profile Setting’ menu located at the upper-right side of the page ⇒ Click ‘Change Secret Question(s) / Answer(s)’… Read More »

How to Reset Password on Income Tax Website

By | November 30, 2017

  Reset Password on Income Tax Website How to Change the Password, if I forgot the password on Income Tax website ? Step 1Click ‘Forgot Password’ located at Login page of  ‘e-Filing’ Portal www.incometaxindiaefiling.gov.in Step 2 : Enter the ‘User ID’ and ‘Captcha Code’ -> Click ‘Continue‘ Step 3: Select any one of the following option from the dropdown list: Answer Secret Question Upload… Read More »

Change Password on Income Tax Website

By | November 30, 2017

Change Password on Income Tax Website How to Change Password on Income Tax website ? Perform the following steps to change the password in e-Filing: Step 1 : Logon to ‘e-Filing’ Portal www.incometaxindiaefiling.gov.in Step 2 : Go to the ‘Profile Setting’ menu located at the upper-right side of the page ⇒ Click ‘Change Password‘ Step 3: Enter ‘Current Password’ (Existing password) ⇒ Enter ‘New Password’ ⇒… Read More »

Books of Accounts to be maintained under Income Tax Act

By | November 29, 2017

Books of Accounts to be maintained under Income Tax Act What books of account have been prescribed to be maintained by a person carrying on business/profession under the Income-tax Act? The Income-tax Act does not prescribe any specific books of account for a person engaged in business or in non-specified profession. “books or books of… Read More »

How to check processing of Income Tax Return

By | November 28, 2017

  How to check processing of Income Tax Return How do I know whether my e-Return is being processed at CPC Bangalore or the Assessing Officer? Answer: LOGIN to the e-Filing (www.incometaxindiaefiling.gov.in ), GO TO ‘My Account’ ⇒ ‘View e-Filed Returns/Forms’ ⇒ Income Tax Returns’ and check the status of Income Tax Return for a given… Read More »

What will happen if I don’t report my Transactions to Income Tax Department

By | November 28, 2017

  What  will happen if I don’t report my Transactions to Income Tax Department If you haven’t explained or reported the income, transactions or specific information such as Annual Information Return (AIR), Central Information Branch (CIB) data or TDS/TCS returns, you will receive an email from Income Tax department  seeking details of transaction or source… Read More »

How to change details of address , email id etc in Income Tax Return after upload

By | November 28, 2017

How to change details of address , email id etc in Income Tax Return after uploading on income tax website After upload of the Income Tax Return ( ITR), if any change occurs in taxpayers Bank Account, Address, Mobile number and e-mail id, then taxpayer can update these changes through ‘Change ITR Form Particulars’. Any… Read More »

How to check TDS Mismatch in income Tax Return

By | November 28, 2017

How to check TDS Mismatch in income Tax Return Users can view the details of non-matched amount of TDS claimed in the Income Tax Return. Also, as per online Tax statement (Form 26AS) TDS detail has been reflected.  Perform the following steps to view the statement. Step 1 : Logon to ‘e-Filing’ Portal www.incometaxindiaefiling.gov.in Step 2: Go… Read More »

How to request Income Tax Intimation Order u/s 143(1)/154/16(1)/35 passed by CPC

By | May 28, 2017

Request for the Intimation Order u/s 143(1)/154/16(1)/35 How to ask copy of the Income Tax order passed by CPC Banglore .  How can I request for a copy of the order passed by CPC? After the Income Tax Return is processed by CPC, taxpayer receives an Intimation at their registered email ID. If the taxpayers… Read More »