5 New Tax Changes and Impacts – Budget 2018

As per budget 2018, there is no change in Income Tax Slab and Rate. So, you must be thinking that nothing is changed as far as tax is a concern. However, your assumption is wrong. Finance Minister has introduced 10 new tax changes in budget 2018. Most of the changes are unfavorable and will impact on your personal finance badly. Let’s take a look at 5 New Tax Changes and its impact post Budget 2018. 5 New Tax Changes and […]

ELSS Mutual Fund – Best way to Save Tax and Generate Wealth

It is a time to save tax. A Year is about to end. Your employer might have started collecting proof of Investment for Tax Saving. In case you have missed a bus of making an investment for tax saving, here is the Best Way to save tax and generate wealth. Yes, I am talking about ELSS. ELSS is a tax saving mutual fund that gives income tax benefit up to 1.5 lakh under section 80 C. ELSS has very good […]

How to update profile on Income Tax Site?

It is essential to update address, mobile number and email address by taxpayers on Income tax e-filing web site. On login Income tax e-filing portal you will be asked to submit address, mobile number, and email address as profile update. This is to ensure that any information or notice raised by income tax department reaches to you in a timely manner. Whenever you are changing your mobile number or email address you need to update the same in Income tax […]

25 Common Income Tax mistakes to avoid while filing ITR

Tax payers are usually cautious while filing income tax returns. But sometime due to last minute rush they might end up making mistakes. The common Income tax mistakes may cause penalty or notice. If you are about to file your income tax return, here is list of 25 common income tax mistakes you should avoid. 25 Common Income Tax mistakes to avoid while filing ITR Mentioning Wrong PAN number The first common mistake you may end up doing is mentioning […]

7 Income Tax Changes that affect ITR filing this year

This year Income Tax return filing has become slightly complicated. The government of India has made several changes related to Income tax and ITR. All these changes are made recently. So, if you are waiting untill last minute for filing your ITR, time has come to wake up and act fast. Here are 7 new Income Tax changes done by the government recently. 7 Income Tax Changes 1. ITR is mandatory in case exempted income is crossing basic tax exemption […]