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2 easy ways to Download and View Form 26AS for filing Return of Income Tax (ITR…
Jul. 17, 2022
Basically, Form 26AS gives a taxpayer a summary of all deductions of taxes from his account, including any demand orders that the department has issued against the taxpayer. You can download form 26AS very easily using either of these two ways.
What are capital assets ?

A capital asset is defined to include property of any kind held by an assessee, whether connected with their business or profession or not connected with their business or profession. It includes all kinds of property, movable or immovable, tangible or intangible, fixed or circulating.
Standard deduction for Salaried Individuals - Budget 2019
Feb. 01, 2019
The budget of 2019 has provided for standard deduction to salaried individuals for Rs 50000. Let's take a deeper look into what it really means for the salaried individuals.
Easiest way to apply for a 80G certificate.
Jun. 28, 2017
First of all, what is 80G? 80G is a section in the Income tax act. What does it do? In simple terms, it provides exemption to a person who donates money to a trust. But, the trust requires a 80G certificate for this section to apply. So, how do you get this certificate?
How does the CAG audit the grants and loans received by the local bodies and authorities from the Consolidated funds of India, States and Union Territories?

In case any body or authority has received a loan or grant for any specific purposes from the consolidated fund or similar, the CAG shall scrutinize whether the loan or grant is being used for the purpose it was granted. For this purpose, he shall have access to the books of account of that authority or body, but for that, he should previously give a reasonable notice to those authorities.
What is the nature of contract of indemnity??

A contract of indemnity being basically a contract, it has to possess all the essential elements of a valid contract such as free consent, lawful consideration and competence of parties to enter into contract etc.
Further, a contract of indemnity can be either express or implied.
An implied contract of indemnity can be inferred from the conduct of the parties or the circumstances of the case.
My father has paid a good amount of tax for the Assessment Year 2017-18. How do I file his returns so that he could get his refunds?

First of all you need to figure out which ITR form you should use while preparing the returns of your father. This image should be a good reference for you to choose.

You can download these forms from here.

The next step is to fill the return. Here, you need to report all the income your father has earned during the year. You should also fill in the details of Advance taxes paid and TDS in the return.

Now, your father’s taxable income would be calculated, and the tax liability is determined. If your father has paid more in taxes than this amount, he would receive a refund of the excess amount of taxes paid in his bank account.

Thank You

Edit: If you are filing after 31 December 2018, you will have to pay a fee of Rs 10,000. Also to note that the time limit for filing a return late for FY 2017-18 expires on 31 March 2019.

Since this period has already passed for you, you can file your returns as per the provisions of section 192. You need to file your returns with your Assessing Officer personally, with a hard copy of the return. This type of return can be submitted for a period of up to six years, but you should have a genuine reason for not filing the return on time.
If you want any assistance in the above matter, you can contact me here
What are the focus points in doing propriety audits by C&AG as regards government expenditure?

Focus Points for Doing Propriety Audits of Government Expenditure: The Propriety audit is to vet the expenditure in the annals of financial wisdom and uprightness. It is to check to bring out the improper, avoidable, or in fructuous expenditure even though such expenditure has been incurred in conformity with the existing rules and regulations. A transaction may satisfy all the requirements of regularity audit in so far as the various formalities regarding rules and regulations are concerned but may still be highly wasteful. It is not audit of sanction or against norms. It is a qualitative, opinion-based expression of auditor’s findings as regards the efficiency, effectiveness and economy dimensions of expenditure.
In this regards, the following main points should be kept for consideration:
(1) The expenditure should not be prima facie more than what the occasion demands. Public money should be spent by the officers as of his own with utmost diligence and care.
(2) No order for sanction of expenditure should be made by an authority which results in pecuniary gains directly or indirectly.
(3) Public moneys should not be utilised for the benefit of a particular person or section of the community unless:
(i) the amount of expenditure involved is insignificant; or
(ii) a claim for the amount could be enforced in a Court of law; or
(iii) the expenditure is in pursuance of a recognised policy or custom; and
(iv) the amount of allowances, such as travelling allowances, granted to meet expenditure of a particular type should be so regulated that the allowances are not, on the whole, sources of profit to the recipients.
(4) There should not be profiteering by the authority or anybody where the expenditure is in the nature of compensating.
(5) Wastage are avoided in expenditure. The cost of administering should not eat off the benefits of the expenditure.
(6) The expenditure should percolate down the beneficiary without corruption.
(7) The expenditure should bring out optimum, enduring benefits instead of mere frittering away the public money on meeting day to day needs repeatedly.
How many times can I revise the return, if the original return is filed before the due date?

If a person has furnished original return and finds any mistake, omission or any wrong statement, then return should revised within prescribed time limit.

Here is business page of Chiranjibi, with all his work

About Portfolio

My dear ,

My dear ,

Do you want to subscribe ? I would give you a free coupon to help you start calling.

Ok , no issues, if you have a question then you can try the search feature at quaremon.

Hi Thakurani,
I want to deposit in my account
Thanks,

Here is business page of Chiranjibi, with all his work

About Portfolio

My dear ,

My dear ,

Do you want to subscribe ? I would give you a free coupon to help you start calling.

Ok , no issues, if you have a question then you can try the search feature at quaremon.

Hi Thakurani,I want to deposit in my accountThanks,

Hi Thakurani,
I want to deposit in my account
Thanks,