File Karo Jhat Se, Processing 'Hogi Phat Se.

File Karo Jhat Se, Processing 'Hogi Phat Se.

Income Tax dept has started Processing for ITR-1 & 4 under this scheme which are filed online only 

The feature can be accessed only by those assessees who fulfill the following criterias laid down by the Income Tax department:

> Online Tax return filing

> ITR is verified

> Bank account is pre-validated

> No arrears

> No income discrepancy

> No TDS or challan mismatch

The Central Board of Direct Taxes (CBDT) tweeted on Wednesday that it has issued refunds worth ₹1,73,139 crore to more than 15.7 million taxpayers between 1 April 2020 to 11 January 2021. 

These days ITRs are being processed faster and refunds are being issued within a week’s time. It is happening due to the new technologically upgraded platform (CPC 2.0).

However, if you haven’t still received your refund, the following could be the reason.

Not verified ITR: The process of filing income tax returns is only completed when you verify your income tax return. In case you don’t do this, the process will not be complete and your refunds will be delayed.

Wrong bank account details: According to the new procedure laid out by the tax department, income tax refunds are being issued only electronically. That means refunds are issued directly to the bank accounts of the taxpayer. In case the bank account number filled in the tax form is incorrect, the tax refunds will be delayed till the information is corrected. You can correct the bank account details online on the income tax department’s portal. Also, it is important that the bank account that you are providing is linked to the permanent account number (PAN).

Not prevalidated the bank account: The bank account has to be prevalidated for getting the refund. You can go to the income tax department’s website, do a log-in using your PAN and password, and then go to profile settings. There you will find an option to prevalidate your bank account. If your bank is integrated with the e-filing portal, pre-validation will be done directly through electronic verification code (EVC) and net-banking route. You need to give your bank account number, IFSC code, mobile number and email ID linked to that account.

You can view your tax refund credit on income Tax TIN website also at   https://tin.tin.nsdl.com/oltas/refundstatuslogin.html

How to invest in Foreign Equities

How to Invest in Foreign companies Share ?

Apple, Microsoft, Amazon, Intel,  Facebook , Johnson & Johnson, JP morgan chase , Alphabet inc, Tesla, Nividia , Walt Disney, Verizon, Adobe , Coca Cola 

These are the MNC companies were every one dream to get a job . But why a job ?? you can now buy a portion of all these and many other MNC companies shares holding and reap a good profit .

There are three basic ways to buy holdings in foreign equities :

1. Open an overseas account with Indian brokerage: This is the easiest way out for any Indian retail investor, as many full-service fund houses provide the access to invest in foreign stocks. Like 5paisa, Vested Finance,  ICICI Direct, Reliance Money, Kotak Securities and various others.

However, it is important to remember that this service will have some restrictions depending on brokerages. Based on the firm, you might have some restrictions on certain investment vehicles or the number of trades that you can make, etc.

2. Open an account with foreign brokerages: Stock brokers like Charles Schwab International Account, Interactive Brokers, TD Ameritrade etc. give access to Indian investors to open an account and trade in US securities and mutual funds. Before investing, make sure you understand the fee structure before opening an account.

However Investing through above 2 modes are very costly due to heavy fee charged for such services, Minimum deposits to keep (usually above 1 lakh ) and many other restrictions. Investing in individual stock is also very risky .

3. Best way to invest in foreign equities  is to buy Indian mutual funds/ETFs with global equities: This is an indirect way of investing in global equities, also cost-efficient given that investors will not have open any account or maintain a minimum deposit.  There are many mutual funds who directly invest in foreign stocks. For example, Motilal Oswal has recently started with 'Motilal Oswal S&P500 Index Fund' which invests in 500 listed companies in US (incl above companies).

Other mutual funds like ICICI Pru US Bluechip Equity, Motilal Oswal NASDAQ 100 ETF, Edelweiss Greater China Equity and various others also trade in global equities. So if you are interested in investing in these companies stock go through Mutual Fund way.

For further guidance please contact us on whatsapp 9470307730

www.etaashfinserve.com