Tax Gyan - The Makeyourtax Blog

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Urgent Notice Individuals: Pay advance tax by June 15

The last date to pay your first instalment of advance tax is tomorrow – June 15, 2016. Till last fiscal, the first advance tax payment date for individuals used to be September 15th but Budget 2016 has made the first instalment payable 3 months earlier now i.e on June 15th this fiscal onwards. Those tax-payers …

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Google Payments Notification regarding Equalization Levy

This is to inform you that as per the Notification No. 37/2016: F.No. 370142/12/2016-TPL dated 27 May 2016 read with Finance Act, 2016, Government of India has levied an ‘Equalization Levy’ on provision of online advertisement services or any other service or facility for the purpose of online advertisement by a Foreign Company provided on …

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5 documents to be kept ready for hassle free ITR Filing

The due date for filing of Income Tax Return in July 31st, 2016. It is that time of the year again when our inbox gets flooded with reminders and warnings. More often than not, in the last moment, we find ourselves utterly hassled at the last moment. The hassle being which document to use, which …

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How to plan for taxes on your salary

At the end of every financial year, many taxpayers make investments to minimize taxes, without adequate knowledge of the various available options. The Income Tax Act offers many more incentives and allowances, apart from the popular 80C, which could reduce tax liability substantially for the salaried individuals. In this article, we will tell you how …

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10 myths about ITR Filing for salaried employees busted

We have reached that time of the year again when we need to file Income Tax Returns. The time when the day is fast approaching and you start hearing conflicting things from your colleagues, friends and family about what to do and what not to do when filing your taxes. Often the reality is far …

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Marriage, gifts and tax planning

Raju is a software engineer working in a technology company in Bangalore City. He is very excited these days as he is getting married in the month of December this year. He hails from those typical south Indian families, where marriage is very big affair, when whole of congregation of relatives takes place. Raju is …

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