समृद्धि की पाठशाला

How to take maximum benefits from Income Tax Now that March is coming closer a proper Tax planning is essential for you to take maximum benefits from Income Tax rebates available under different sections of Income Tax Act . Here are some of the sections under which you can claim Tax rebates . Section 80C : Maximum Rebate Rs 150000 by investing in PF, PPF , ELSS , NPS Etc. SECTION 80D : Maximum Rebate Rs 25000 for medical cover of self and family Section 80CCD : Max Rebate Rs 50000 exclusively for NPS Section 80D : Maximum rabate full amount of actual interest paid on education loan of children , spouse, close relatives. Section 24 : Max rebate Rs 2 lakh on home loan interest . Please note that most of these sections are not only for your current year tax saving but also for your future comfortable retirement life too, be it PF, Insurance , Home loan or Pension scheme . So invest in these schemes as much as possible to reap the benefits today and...

Now that filling of Income Tax return is over , and processing of your   Tax return has started   , all will get an intimation notice from the Income Tax Dept   regarding processing of your Tax return . An intimation under section 143(1) is issued by the CPC under any of the three instances: There is tax liability to be paid; A refund has been determined; There is no refund or demand, If as per the intimation u/s 143(1) there is a tax demand then this intimation becomes notice of demand and this intimation will be treated as Notice of demand u/s 156. Accordingly, you will have to pay the entire amount within the time mentioned in the notice." The intimation will be sent to you regarding the same via email and SMS under section 143(1). You will find the tax demand notice on your online account on the e-filing website   https://incometaxindiaefiling.gov.in/ . According to the current income tax laws, the time limit to respond to this is 30 days. ...