About Pulkit Jain

Pulkit Jain is the founder of LegalRaasta – India's top portal for registration, trademark, return filing and loans. Pulkit is a veteran CA with over 10+ of experience.

Understanding Form 26AS on the Traces website

By |2019-04-22T09:02:09+00:00April 22nd, 2019|Categories: IT Assessment, TDS|Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

During the whirlwind season of Income Tax Return Filings, you come across two income tax forms most frequently. These are Income Tax Form 16 and TRACES 26AS or Form 26AS. Where Income Tax Form 16 specifies details of your salary income and tax deducted and deposited by your employer.  TRACES 26AS is an annual consolidated tax summary that you need [...]

Comments Off on Understanding Form 26AS on the Traces website

Section 80U of Income Tax Act

By |2019-04-17T05:58:02+00:00April 17th, 2019|Categories: Other Sources|Tags: , , , , , , , , , , , , , , , , , , , , , , , |

Overview Under section 80U, a person can claim a tax deduction if he/she is suffering from a disability or severe disability. This section provides tax benefits to an individual and their family members to a person certified as a person with a disability by an authorized medical authority. Read on tax exemptions from filing income tax [...]

Comments Off on Section 80U of Income Tax Act

How to save Income-Tax under 80GG?

By |2019-04-02T05:15:46+00:00March 27th, 2019|Categories: Deductions, ITR Filing, Save Income Tax|Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Section 80GG of the Income Tax Act allows claiming of the tax deduction for the house rent paid for accommodation. Not all salaried people are able to stay in their own place. Either due to work being located in distant locations, affordability, or many other problems, personal or otherwise. To ease up their problems, the Government [...]

Comments Off on How to save Income-Tax under 80GG?

Tax Slab for FY 2018-19 (AY 2019-20) : Income Tax Rates The Interim Budget released redefined the income tax slab rates for individuals . Here's a brief overview of the same

By |2019-02-09T09:12:08+00:00February 9th, 2019|Categories: IT Notices|Tags: , , , , , , , , , |

 Income Tax Slab Rates: Highlights of 2019 Budget Tax Rebate  to individuals who are in ₹ 5lakh income tax slab rate Increase in the standard deduction, tax saving of ₹13,520 for 5 lakh bracket Please Note: This is applicable for the new Finacial Year 2019-20 The following article discusses the tax slab rates for the financial [...]

Comments Off on Tax Slab for FY 2018-19 (AY 2019-20) : Income Tax Rates The Interim Budget released redefined the income tax slab rates for individuals . Here's a brief overview of the same

Breaking News: Income Tax Return and Audit Report Due Dates Extended Central Board of Direct Taxes (CBDT) has extended the due date for Income tax Returns and Audit Reports to...

By |2019-02-02T08:44:18+00:00September 24th, 2018|Categories: IT Notices|Tags: , , , , |

Today, on the 24th of September The Central Board of Direct Taxation (CBDT) released in which Income Tax Return and Audit Report due dates extended to 15th October from 30th of September. This due date was pushed forward in lieu of a request made by various stakeholders across many organizations. However, the due date for purpose [...]

Notice u/s 143(2) – Scrutiny Assessment Notice

By |2017-07-12T07:25:30+00:00July 10th, 2017|Categories: IT Notices|

Section 143(2) tax notice is the statutory notice which is issued to an assessee for a Scrutiny Assessment of his return. It is sent in a case where the return has either been filed by the assessee himself (Self Assessment) or in response to a notice u/s 142(1) and the Assessing Officer (AO) wants to ensure that the [...]

Income Tax Notices

By |2017-07-12T12:58:51+00:00July 10th, 2017|Categories: IT Notices|

Introduction When we receive Income Tax notices, we often get scared but all these notices have a reason of issuance. Some income tax notices just give us information like intimation under section 143(1), some warrant information for inquiry under 142(1) and some communicate that an audit is required to be done etc. This article will give you [...]

Digital Signature Certificate

By |2017-07-12T11:30:05+00:00July 8th, 2017|Categories: ITR Filing|

ITR is required to be filed online with the Digital Signature in some cases but filing of ITR without the digital signature can also be done. The e-file income tax return is although mandatory but the filing of ITR with the Digital Signature is not mandatory. The income tax return is normally filed by the following modes: (i) Furnishing of [...]