Archive | ClearTax

Exemption from quoting Aadhaar Number/Enrolment ID to certain individuals

The central government recently made the quoting of Aadhaar Number/Enrolment ID mandatory for filing of return of income and for making an application for allotment of Permanent Account Number with effect from 1st July, 2017.But now the government has given relief to certain persons/states from quoting of Aadhaar/Enrolment ID. As per the notification dated 11th […]

Continue Reading

Update on Sec 80 G- Donations for charity

                       The Central Government has recently notified the Shri. Ram and Ramdas Swami Samadhi Temple & Ramdas Swami Math at Distt. Satara, Maharashtra to be a place of public worship u/s 80G (2).It means any donations made to this temple would qualify as deduction from the income u/s 80G. Sec 80G specifies the various relief […]

Continue Reading

7 Basics That Everyone Should Know About GST

With the passage of the GST bill in both the houses of Parliament, its implementation from 1 July 2017 is nearly certain. The rollout of GST— touted as the biggest tax reform that the country has seen post-independence—will have a huge impact on our economic environment. However, GST still has many people in a fix […]

Continue Reading

Linking Aadhar card mandatory for accounts opened in a certain period: IT department

According to new regulations released by the tax department, account bearers who opened their bank accounts between July 2014 and August 2015 need to submit their KYC details and Aadhar card number before April 30 to avoid repercussions. These details are required under the FATCA regulations (Foreign Tax Compliance Act) signed between India and the […]

Continue Reading

How to claim HRA exemption for rent to parents without inviting department’s wrath

It is common for taxpayers to claim HRA exemption by paying rent to parents. But a lot of us do not know the right way to do this. Let’s understand in detail. You may have heard about a recent case law of how the income tax department refused to allow HRA exemption for rent paid by a […]

Continue Reading