It’s that time of the year again when you have to go through the annual ritual of filing income tax returns (ITRs). This will include salary income, interest income and income from one house property,” said Abhishek Soni, chief executive officer and co-founder of Tax2win.in. “You have to mention the 12-digit Aadhaar number or the 28-digit Aadhaar enrolment number while filing the income tax return. Till last year, it was optional to mention the Aadhaar number while filing returns,” said Nangia. Apart from divided income, “income received by a person in the form of royalty for patents developed and registered in India are to be taxed at the rate of 10%.

Source: Mint July 03, 2017 02:37 UTC