Wednesday, 19 July 2017

Deadline for filing income tax return nears; here are 5 common mistakes that you must avoid

New Delhi: Filing of income tax return –the annual ritual –can get really troublesome if you don't pay heed to the details. Every year, numerous applications get rejected due to incorrect or mismatched information.

This is the reason why you should not make any mistakes on your application, especially if you are e-filing for returns for the first time.

1. Waiting until the due date to e-file your returns

Most of us wait till the 30th of July to start processing our income tax returns. This is a lazy pattern that many taxpayers are being used to. The government has simplified filing for returns by introducing online filing system, hence you must file your ITR ahead of the due date to avoid any errors or for rectifying the same.

2. Delaying e-verification on return

Until the returns are verified, the procedure of filing for returns remains incomplete. Taxpayers have two options for verifying the returns;

- Either sending the Income Tax Returns Verification acknowledgment to CPC, Bangalore within 120 days of filing the returns.

- Or an easier option would be, e -verifying your returns online.

There will be no requirements to send the ITR V if you e-verify the returns online. The procedure of e-verification can be done via net banking, Demat account, Aadhaar number and bank account number.

3. Filling the form with incorrect personal details

To be eligible for e-filing benefits you must first register on the official website of the Income Tax Department. To achieve a flawless e-filing process you must furnish the accurate personal details like your postal address, date of birth, status, email ID, mobile number etc.

It is also pivotal to make sure that your details are filled correctly in their designated columns. Any mistakes in your date of birth will result in you falling in the higher tax slab. The registration process can be tricky if you aren’t familiar with the norms and any incorrect information may lead to issues in the future.

4. Errors in your banking particulars

Even if claiming for refunds is not applicable to you, it is mandatory to furnish your bank account details. While e-filing, always double check to see if the name, account number, IFSC and MICR code of your bank account matches the credentials entered in the registration portal.

5. Failing to report all the bank accounts

Many people neglect this provision and fail to declare all their bank accounts which have been functional within that financial year. This practice is illegal as the Income Tax Department has clearly stated under its act that every taxpayer must mandatorily submit all the bank accounts registered in the name of the taxpayer. Also, if you have made a cash deposit of more than Rs 2 Lakh during the demonetization period (November 9, 2016-December 30, 2016), you must fill a specified column in the e-form to report the cash deposited.


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Monday, 17 July 2017

Enforcement Directorate raids Baba Siddique, others' premises in PMLA case

Mumbai: The Enforcement Directorate on Wednesday conducted searches at the premises of Congress leader Baba Siddique and few others in the Maharashtra capital over the Slum Rehabilitation scam.

News agency PTI has quoted officials as saying that raids are being carried out in at least six locations in Mumbai, including that of builder Rafique Maqbul Qureshi. Maqbul is believed to be a close associate of Siddiqui.

The agency also suspects usage of shell companies in committing the alleged irregularities and hence the raids are being conducted to gather more evidence, they said.

The scam amounts to approximately Rs 100 crore.

As per rules, whenever a plot is developed in the slum area, a portion of it is devoted to the slum-dwellers. However, it has been alleged that the fraud was done with the help of false documents.

During the raids, documents showing money being sent to Siddiqui's company have been found from Qureshi's place.

Siddique has been a Congress MLA in the Maharashtra Assembly and also served as a Municipal Corporator.


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Friday, 19 May 2017

Expressway ventures worth Rs 5 lakh crore arranged in 2 years

NEW DELHI: The Narendra Modi government has set an aspiring focus of granting Rs 5 lakh crore worth of thruway contracts, totalling around 50,000 km, over the most recent two years of its residency, outperforming the combined street length granted for paying over the most recent five years.

"We have arranged a few undertakings that would be extremely significant for general improvement of the nation. These new parkways would decongest the current streets, cutting down coordinations taken a toll by 5-6%," Gadkari told ET. "My service's vision is that a cargo vehicle ought to proceed onward parkways without confinements and ought to have the capacity to do no less than 400 km for each day. It will have extremely positive effect on the coordinations business."

At present, there are 10 road ventures at different phases of usage. Gadkari said his service would raise cash through NHAI bonds, monetisation of expressways and extra distribution in budgetary support. He said the Center's first interstate, the Eastern fringe freeway, would be prepared in a couple of months.

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Wednesday, 17 May 2017

President Pranab Mukherjee to start 2-day visit to West Bengal

New Delhi: President Pranab Mukherjee will start his two-day visit to West Bengal from Thursday.

On May 19, the President will pay a botanical tribute to previous President Neelam Sanjiva Reddy on his introduction to the world commemoration at Raj Bhavan, Kolkata.

Later in the day, he will show Dr Malati Allen Noble Award, Dr Sarkar Allen Mahatma Hahnemann Award and Dr. Sankar Allen Swamiji Award initiated by the Dr. Malati Allen Charitable Trust in Kolkata and introduce the Integrated Renewable Energy Smart Microgrid Center and Center for Water and Environmental Research at the Indian Institute of Engineering Science and Technology at Shibpur, Howrah.

Before coming back to Delhi, he will likewise get the books `Jnan, A-Jnan O Bijnan` and `Samudra Banijjer Prekshite Sthala Banijjya, Bharat Mahasagar Anchal, 1500-1800` from Dr. Sushil Chaudhury and Dr. (Smt.) Mahasweta Chaudhury.

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Tuesday, 16 May 2017

Trump considering various possibility for FBI executive

WASHINGTON: US President Donald Trump is thinking about almost twelve possibility to succeed removed FBI Director James Comey, browsing a gathering that incorporates a few administrators, lawyers and law implementation authorities.

The rundown likewise incorporates South Carolina Rep. Trey Gowdy, previous Michigan Rep. Mike Rogers and previous New York City Police Commissioner Ray Kelly, as indicated by two White House authorities informed on the matter who talked on state of namelessness to examine inward arranging.

The 11 hopefuls under thought as a changeless trade for Comey:

Representative JOHN CORNYN

Cornyn is the No. 2 Senate Republican and a previous Texas lawyer general and state Supreme Court equity. He has been an individual from the Senate GOP authority group for 10 years and serves on the Senate Judiciary Committee. In the outcome of Comey's expulsion, Cornyn said Trump was "inside his power" to flame him and said it would not influence the examination of conceivable Russian binds to Trump's presidential crusade.


The South Carolina Republican is best known for driving the congressional investigation into the destructive assaults on a U.S. office in Benghazi, Libya, a board that administered a protracted flame broiling of Hillary Clinton in 2015. A previous government prosecutor and state lawyer, Gowdy was chosen to Congress in the 2010 casual get-together wave and has concentrated on law authorization issues. He initially supported Florida Sen. Marco Rubio for president before support Trump in May 2016.

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Tuesday, 9 May 2017

Alarm in J&K: Suspected aggressors commandeer auto in Pulwama; shots make freeze in Budgam

Srinagar: Unknown shooters on Tuesday grabbed an auto from a non military personnel in Pulwama region of south Kashmir, setting off a caution.

The proprietor of the auto told the police that he had bought the vehicle as of late and it didn't have a perpetual enrollment number yet, the authority said.

"Police have sounded an alarm. All the police headquarters, control rooms and security organizations have been alarmed after the capturing of the auto by speculated activists. We have cautioned government constrains along National Highway to thwart any assault by speculated aggressors," the officer said.

He said the security strengths have been approached to keep a vigil for any suspicious auto coordinating the portrayal of the stolen vehicle as it can be utilized by the shooters for subversive exercises.

In the interim, soon after the report of auto being seized surfaced, shots made frenzy in Kralcheck town of Chadoora in Budgam locale.

"We have gotten a report that around 20-40 shots were heard at Kralcheck. There was however no report of wounds or demise. Police are discovering the realities," including that the security has additionally been alarmed from Budgam. 

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Monday, 8 May 2017

Harmed over being upbraided by BJP MLA, UP IPS officer communicates her anguish on Facebook

Lucknow: A lady IPS officer has taken to Facebook to express her anguish after she was upbraided for making a move against a few dissenters.

"Kindly don't take my tears as an indication of shortcoming. Not out of brutality, but rather the eyes sprung up from delicacy," she wrote in her post.

Unexpectedly, Gorakhpur is likewise the parliamentary body electorate of Uttar Pradesh Chief Minister Yogi Adityanath.

She started her post by saying "To everybody who has turned up in my support".

"I am a lady officer, your self-importance won't see that. The power in truth will demonstrate its hues soon," she composed.

"My preparation hasn't shown me to be powerless. I simply did not expect that my SP city Ganesh Saha Sir would altogether dismiss the nonsensical contention and discuss my damage.

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