Category: Incometax

Income Tax Return Rectification – Recently my friend has received tax demand from Income Tax Dept. He has filed an income tax return before the due date and return was processed by CPC. The intimation of processing ITR 143(1) was also generated and sent to his …

Once you file your ITR it will be processed by the income tax department in a reasonable time. You need to wait until it is processed. It usually takes 6-9 months for the processing of Income-tax return. Once your ITR is processed CPC (Central Processing Center) …

HUF stands for Hindu Undivided Family. HUF can be formed by Hindus, Jains, Buddhist and Sikh Families in India. As per Income Tax rules, HUF is a separate tax entity/unit. You can enjoy additional tax benefits as a family by forming HUF. If you are keen to …

To simplify & improve the process of ITR filing and e-verification, the Income Tax department has launched new facilities of e-filing Lite and E-verify IT return without login to e-filing portal. You must be aware that filing of Income-tax return (ITR) is mandatory if your gross …