M S Meherally & Co

10/09/2021

5 key financial documents that you should keep your family informed about

A well-kept inventory of your financial assets helps in smooth succession planning. It also prevents leakage, later

14/04/2021

Please note the office timing in this blessed month will be 1:00 pm to 6:00 pm.

05/05/2020

Taxpayers Beware! Please do not click on any fake link which promises to give refund. These are phishing messages and are not sent by the income tax department," the department said in a tweet

16/04/2020

A must read for salaried individuals

The CBDT has also clarified that the option once availed in the year cannot be modified during the year.

15/04/2020

https://www.livemint.com/news/india/here-s-list-of-activities-that-will-be-allowed-from-20-may-during-coronavirus-lockdown-11586925498347.html

Transportation of goods will be permitted without any distinction of essential or non essential commodities.Employers will have to abide by strigent safety instructions suggested by MHA

30/03/2020

ATTENTION TAX PAYERS

This is the biggest confusion in the minds of the taxpayers. Following points clarifies some of the issues:

1) FY 2019-20 is not at all extended till 30th June. Only the date is extended for some compliances.

2) Belated returns or Revised returns for the FY 2018-19 can be filed till 30th June.

3) In the FY 2019-20, income is taxable till 31st March only and not upto 30th June, i.e. for taxability of income financial year is considered till 31st March only.

4) Deductions under 80C, 80D, etc. can be claimed by investing till 30th June.

5) New LIC, mediclaim, PPF, NPS, etc. policies taken till 30th June will be eligible for the deduction for the FY 2019-20.

6) Payment of Premium of old policies of LIC, mediclaim, PPF, NPS, etc. due upto 31st March can be claimed as deduction even if paid till 30th June.

7) Housing loan interest is eligible for deduction on accrual basis, so interest accrued till 31st March will be eligible for the deduction in FY 2019-20. However Installments due upto 31st March can be claimed as deduction ever if paid till 30th June.

11/08/2019

Be careful while filing Income Tax Return.

Taxpayers should be wary of some common mistakes while filing tax returns that may trigger tax notices later on.Using the wrong ITR form, not disclosing all the bank accounts operated by the taxpayer are some...are some of the common reasons

29/07/2019

Caution! Don't under report your income!

Even if you don’t have to pay tax on the income, you still need to report it.Even if tax is deducted on salary and TDS is paid on your interest income, you may still notice that there are some taxes due

25/07/2019

Be cautious while filing the return, be safe, hire a professional

You may anytime come under the taxman's lens. The department can randomly scrutinise returns to enforce tax compliance.

24/07/2019

Good news for all return filer and tax practitioner, Government extends the due date of Income Tax return filing.

Usually, the deadline to file the income tax returns by individuals and HUFs is July 31.

19/07/2019

Income Tax Deadline for Non-Audit Business/Profession & Salaried Individual - 31st July, 2019.

11/05/2019