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Penalty for Late filing of Income Tax Return Penalty for Late filing of Income Tax Return U/s. 234 F for the period 1st April 2017 to 31st March 2018. For the Assessees liable to file their Income Tax Return by 31st July 2018 is as under Filing on or before 31st July 2018 - NIL 1st Aug 2018 to 31st Dec 2018 Taxable income more than INR 5 Lakhs - INR 5000/- Taxable income up to INR 5 Lakhs - INR 1000/- 1st Jan 2019 to 31st Mar 2019 Taxable income more than INR 5 Lakhs - INR 10000/- Taxable income up to INR 5 Lakhs - INR 1000/-
All Income Tax Return Forms for the period 1st April 2017 to 31st March 2018 are now available for e-Filing. File your Income Tax Return on or before the due date to avoid penalty under section 234 F of the Income Tax Act, 1961
Mutual Fund SIP (Systametic Investment Plan) Investment under Mutual Funds is of two types, viz. Lumpsum and Systematic Investment Plan. Salient Features of SIP SIP does the wonder of small and regular investment for a longer period, making a mighty corpus in the long run. SIP provides financial discipline to investors by enabling them to invest regularly in mutual funds. SIP starts from as low as INR 500/- onwards. SIP is usually monthly or quarterly investment debited direct from investor's bank account on a preferred specific date, as opted by the investor. SIP is without any financial burden. SIP enables the purchase cost to be averaged out. SIP is a tool to help the investors to achieve their long term financial goals. SIP investors are offered life insurance cover as well, by some fund houses at no additional cost.
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