Monday, June 26, 2017

How to file IT return online in India and Ten facts to know about filing income tax return this year

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How to file IT return online in India? 
Filing of Income tax return online is very easy now a days and most of the IT payers in India adopt the method  of filing the IT returns online.

The first criteria for filing IT returns online is to create a Profile in the Website for filing Income Tax return online. PAN number of the IT payer is the User ID.User has to create a Password and remember it.


After login to the site, the user has to follow the steps given in the following link for filing IT return online by anyone  of the two methods mentioned therein.

Ten facts to know about filing income tax return this year

Here we are taking a look at ten facts which you need to know about filing income tax return this year for the last financial year:

1.Due date for filing return
The due date for filing your income tax return is 31st July 2017. If you need to get a tax audit done, the due date is 30th September 2017. Filing before the due date is important if you want to carry forward any loss incurred by you during the year.

2.Mandatory return filing
It is mandatory to file income tax return if your taxable income before any deduction exceeds Rs 2.5 lakh. “The limits are 3 lakh and 5 lakh for senior citizen and super-senior citizen, respectively. Also, filing of ITR has been made mandatory if one has Long Term Capital Gains from sale of shares or mutual funds of more than Rs 2.5 lakh in a year,” says Archit Gupta, Founder & CEO, ClearTax.in.

3.Change in law w.r.t. revised return
Till last year, a revised return could be filed only if the original return was filed within the due date. Starting from this year, a return can be revised even if filed after due date, i.e even if a belated return is filed.

4.Linking of Aadhaar card with PAN
Based on a Supreme Court ruling and the rules announced during Budget 2017, it is now mandatory to link your Aadhaar Card with your PAN if you own both PAN and Aadhaar. 
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An interim relief has been provided by the SC only to those who may have PAN but not Aadhaar. However, your Aadhaar number or the Aadhaar Enrolment ID number will now be mandatorily required for filing of income tax returns as well as for applications for PAN from July 1 this year.

5.Dividend Tax
There has been a new rule regarding dividends. “Any person who receives dividend above Rs 10 lakh has to pay an additional income tax of 10% (on amount in excess of Rs 10 lakh). Dividend here includes dividend on equity shares or mutual fund units,” says Gupta.

6.Return filing mandatory even if TDS deducted
There is a misconception that a return has to be filed only when any tax is due. Return filing is now mandatory irrespective of TDS deducted on your income if your income exceeds Rs 2.5 lakh.

7.TDS and Form 26AS
Form 26AS is a Tax Credit Statement that contains details of all TDS deducted against your income. It is a good practice to check the TDS figures in Form 26AS before filing the income tax return.

8.Savings Bank Interest Income
Interest earned on savings bank account balance should be declared in the income tax return. Also, “a deduction of Rs 10,000 is available u/s 80TTA for income from interest. This means that savings interest income up to Rs 10,000 is indirectly exempt in the form of a deduction. This income can be calculated from the bank statement. The interest is usually paid quarterly or half-yearly,” says Gupta.

9.Schedule AL
A statement of assets and liabilities has to be provided by every assessee whose income is more than Rs 50 lakh, This statement also includes the cost of acquisition of movable properties held such as jewellery, vehicle or cash.

10.E-Verification of Income Tax Returns
It is now possible to E-verify your income tax return instead of sending ITR-V by post. This makes the verification process easier. This is an important step that is required to complete the process of online income tax return filing.

Monday, June 12, 2017

Depression and tips to overcome Depression


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Depression is a state of low mood and aversion to activity that can affect a person's thoughts, behavior, feelings, and sense of well-being.


Depression (major depressive disorder or clinical depression) is a common but serious mood disorder. It causes severe symptoms that affect how you feel, think, and handle daily activities, such as sleeping, eating, or working. To be diagnosed with depression, the symptoms must be present for at least two weeks.


People with a depressed mood may be notably sad, anxious, or empty; they may also feel notably hopeless, helpless, dejected, or worthless. Other symptoms expressed may include senses of guilt, irritability, or anger. 


Further feelings expressed by these individuals may include feeling ashamed or an expressed restlesness. These individuals may notably lose interest in activities that they once considered pleasurable to family and friends or otherwise experience either a loss of appetite or overeating. Experiencing problems concentrating, remembering general facts or details, otherwise making decisions or experiencing relationship difficulties may also be notable factors in these individuals' depression and may also lead to their attempting or actually committing suicide.


Types of Depression:


Some forms of depression are slightly different, or they may develop under unique circumstances, such as:

  • Persistent depressive disorder (also called dysthymia) is a depressed mood that lasts for at least two years. A person diagnosed with persistent depressive disorder may have episodes of major depression along with periods of less severe symptoms, but symptoms must last for two years to be considered persistent depressive disorder.

  • Perinatal depression is much more serious than the “baby blues” (relatively mild depressive and anxiety symptoms that typically clear within two weeks after delivery) that many women experience after giving birth. Women with perinatal depression experience full-blown major depression during pregnancy or after delivery (postpartum depression). The feelings of extreme sadness, anxiety, and exhaustion that accompany perinatal depression may make it difficult for these new mothers to complete daily care activities for themselves and/or for their babies.

  • Psychotic depression occurs when a person has severe depression plus some form of psychosis, such as having disturbing false fixed beliefs (delusions) or hearing or seeing upsetting things that others cannot hear or see (hallucinations). The psychotic symptoms typically have a depressive “theme,” such as delusions of guilt, poverty, or illness.

  • Seasonal affective disorder is characterized by the onset of depression during the winter months, when there is less natural sunlight. This depression generally lifts during spring and summer. Winter depression, typically accompanied by social withdrawal, increased sleep, and weight gain, predictably returns every year in seasonal affective disorder.

  • Bipolar disorder is different from depression, but it is included in this list is because someone with bipolar disorder experiences episodes of extremely low moods that meet the criteria for major depression (called “bipolar depression”). But a person with bipolar disorder also experiences extreme high – euphoric or irritable – moods called “mania” or a less severe form called “hypomania.”
Examples of other types of depressive disorders newly added to the diagnostic classification of DSM-5  include disruptive mood dysregulation disorder (diagnosed in children and adolescents) and premenstrual dysphoric disorder (PMDD).
Signs and Symptoms
If you have been experiencing some of the following signs and symptoms most of the day, nearly every day, for at least two weeks, you may be suffering from depression:

  • Persistent sad, anxious, or “empty” mood
  • Feelings of hopelessness, or pessimism
  • Irritability
  • Feelings of guilt, worthlessness, or helplessness
  • Loss of interest or pleasure in hobbies and activities
  • Decreased energy or fatigue
  • Moving or talking more slowly
  • Feeling restless or having trouble sitting still
  • Difficulty concentrating, remembering, or making decisions
  • Difficulty sleeping, early-morning awakening, or oversleeping
  • Appetite and/or weight changes
  • Thoughts of death or suicide, or suicide attempts
  • Aches or pains, headaches, cramps, or digestive problems without a clear physical cause and/or that do not ease even with treatment

Not everyone who is depressed experiences every symptom. Some people experience only a few symptoms while others may experience many. Several persistent symptoms in addition to low mood are required for a diagnosis of major depression, but people with only a few – but distressing – symptoms may benefit from treatment of their “subsyndromal” depression. The severity and frequency of symptoms and how long they last will vary depending on the individual and his or her particular illness. Symptoms may also vary depending on the stage of the illness.
Source :
https://en.wikipedia.org/wiki/Depression_(mood)
https://www.nimh.nih.gov/health/topics/depression/index.shtml?utm_source=BrainLine.orgutm_medium=Twitter

How to overcome depression? Some Tips:
1. Get some Sun.

Expose yourself to sunlight at least 15 minutes of every day.

Sunlight is known to boost your mood and that might just make you feel a lot better. Be it a morning jog or gardening or hiking or taking a stroll outside during your lunch break, it will surely help you feel a bit better.

2. Reach out to people.

When you are depressed, you tend to withdraw and isolate yourself by cutting off from friends, family and the outside world in general.

However, you must realize that it is important to reach out to people to heal the pain that you are going through for it will only uplift your mood and spirit.

Be it in the form of talking to a friend or anyone who you think understands you better or joining a class or volunteering in a social event, being around people will certainly do the required healing.

3. Indulge in things that make you happy.

What is it that you really enjoy doing - painting, yoga, playing a musical instrument, reading, writing?

While you can’t force yourself to have fun but you can certainly push yourself to do things you like doing, even when you don’t feel like it, even when its difficult.

4. Have some physical activity in the day.

When you are fighting with depression, even getting out of your room can be a big task, forget indulging in a work out session.

But try and do some physical activity, be it as small as moving up and down a flight of stairs or walking because exercise is a powerful depression fighter and it will certainly make you feel a lot lighter and better about yourself.

5. Eat healthy.

Indulge in healthy eating, for the food you eat has a direct bearing on how you feel.

Grab a bowl of muesli with some yoghurt topped with fresh fruits instead of a burger with loaded cheese fries. Once you start taking care of your food habits, you will surely find a difference in your mood.

6. Think healthy and positive.

Thinking about the past isn't going to change anything. It's only going to make you feel more depressed. You will only end up hurting yourself and spoiling your present and eventually your future.

Don’t do that to yourself.

Take charge of your happiness and your life and start focusing only on the good and you will eventually attract all the great things back into your life.

7. Make it a point to go out at least once in two days.

Treat yourself to your favorite ice cream at the nearby ice cream parlour or go for grocery shopping or go for a walk in the park for it will only infuse some positivity and color into your life.

8. Find ways to distract yourself.

Whenever you feel that bout of depression coming, do something that uplifts your mood. Be it talking to someone whom you are fond of, playing a guitar, cooking, listening to music, watching your favorite series on Netflix and don’t let that pain take you in its grasp.

The tips to beat depression are given in brief in the following diagram:
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Medical treatments for depression


The main medical treatment for depression is antidepressant medication. There's a lot of misinformation about antidepressant medication and while there is no simple explanation as to how it works, it can be very useful in the treatment of moderate to severe depression and some anxiety disorders.
If you're experiencing moderate to severe depression your doctor may prescribe antidepressant medication, along with psychological treatments. Antidepressants are sometimes prescribed when other treatments have not been successful or when psychological treatments aren't possible due to the severity of the condition or a lack of access to the treatment.
People with more severe forms of depression (bipolar disorder and psychosis) generally need to be treated with medication. This may include one or a combination of mood stabilisers, anti-psychotic drugs and antidepressants.