Monthly Archives: August 2015


Every businessman runs the business with the motivation to earn the profits out of it, but unfortunately there are possibilities of incurring the losses. As a businessman income tax expenses is an outflow from his earned income. Every businessman tries to minimize the tax expense to the extent possible. Based on the natural justice, income… Read More »

Income Tax Return for the year ending 31st March 2015

The due date for filing of your income tax returns for the year ending 31st March 2015 is approaching very fast i.e. 31 August 2015. Only last few days are left to complete the annual compliance related to filing of income tax returns. To avoid the last minute rush for your income tax return filing… Read More »

Permanent Account Number (PAN)

Lets’ us understand what is PAN and some important aspects of PAN. PAN enables the income tax department to link all transactions of the assessee. These transactions includes but not restricted to tax payments, TDS/TCS credits, returns of income, specified transactions, correspondence and so on. It facilitates easy retrieval of information of assessee and matching… Read More »

IT Returns ITR3, ITR4 & ITR7

Income tax department has finally released e-filing utility for ITR 3, ITR-4 and ITR-7 for Assessment Year 2015-16.  The department has released Excel and Java Utility for ITR-3 and only Java Utility for ITR-4 and ITR-7. Income tax department has already released ITR e-filing utility for ITR 1 (SAHAJ), ITR 2, ITR 2A and ITR… Read More »