Documents required for filing ITR

The government has notified the income tax return (ITR) forms for FY 2018-19. This means that you can now start collecting the documents need to file your ITR for FY 2018-19. Although you have till July 31, 2019 to file your return, keeping the required documents handy in advance will make the process easier. Here are the documents you must collect and things you must do before filing your ITR…

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Automated GST refund for exporters by next month

NEW DELHI: Exporters of goods and services as well as suppliers to SEZ units are likely to get GST refunds automatically from June as the revenue department plans to introduce faceless scrutiny of refunds and faster claim settlement, an official said. Under GST, every person making a claim of refund on account of ‘zero-rated’ supplies has two options. Either he can export without payment of integrated tax under Bond/ LUT…

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I-T dept revises format of TDS certificate issued by employers

The Income Tax department has revised Form 16 by adding various details, including income from house property and remuneration received from other employers, thereby making it more comprehensive to help check tax avoidance. It will also include segregated information regarding deductions under various tax saving schemes, investments in tax savings instruments, different allowances received by the employee as well as income from other sources. Form 16 is a certificate issued…

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How to open an NPS account online without Aadhaar

In the absence of an Aadhaar-based registration process, KYC verification is done through the bank account linked to your PAN. 1. Keep these documents scanned and ready PAN card* Driving license, passport or voter ID to be used as address proof Cancelled cheque of an active bank account. Netbanking facility should be available for the same account Passport-size photo (4-12 kb) Signature (12 kb) 2. Online registration Visit any of…

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EPFO may move Supreme Court against high pension

If you were celebrating the prospects of higher pension from the Employees Provident Fund Organisation (EPFO) after the Kerala High Court ruling, here’s some bad news. The EPFO is reportedly planning to challenge the high court order in the Supreme Court. Under the existing rules, a person covered by the Employees’ Pension Scheme of the EPFO will be paid a monthly pension based on his last drawn salary. But the…

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5 lessons to learn from your financial mistakes

By Uma Shashikant We mostly struggle with regret. In personal finance, we make several decisions about earning, saving and investing. Assuming 30 years of working and 20 years of retired life, we make money decisions for 50 years or more. What is the chance that we get it right always? We are all prone to making mistakes and making them too often for comfort. We learn from mistakes, or we…

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LTI to hire 3,800 freshers as it sees order-book swelling this year

MUMBAI: Engineering major L&T’s software arm LTI will be hiring around 3,800 freshers this fiscal as it expects the business to grow at a faster clip, a top official has said. The company is working at a very high utilisation level now and wants to hire more to get down the level, chief executive Sanjay Jalona said. “We will be hiring 3,700-3,800 freshers this fiscal year as against the 3,000…

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