ITR

How You Can Correctly File Your Personal Income Tax Returns in India

Income Tax - July 31st is the last date in every year for filing one’s income tax returns for both resident and non-resident salary receiving individuals and also for people who are partners in firms with turnovers of less than an amount of Rs.1 Crore. Thus this is indeed a taxing process, and you can learn more about it as you keep reading on!...

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Need To Rationalize TAR And ITRs – A Measure To Remove Duplication and To Minimise Litigation

Income Tax - In the present article, efforts have been made to analyse drawbacks in present ITR / TAR and to suggest some measures to eliminate them....

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How to remove Password from ITR V Acknowledgement

Income Tax - On e filing of income tax return, an acknowledgement is generated by the Income Tax Department in a form named as ITR V. This ITR V is issued in pdf format and remains password protected. The password remains Permanent Account Number of the assessee in short case followed by his date of birth / its date of formation....

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How to Use NSDL demat account details to generate EVC

Income Tax - Use your NSDL demat account details to generate EVC (Electronic Verification Code) for e-Filing of Income Tax return As you may be aware, the Income Tax Department (ITD) has introduced the facility of Electronic Verification Code (EVC). EVC is introduced to make the e-filing process of income tax returns simpler and completely paperless....

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Consequences of Filing Income Tax Return After Due Date

Income Tax - The due date for filing income tax return for corporate assessees and other assessees who are required to get their accounts audited under Income Tax Act 1961 or under any other law for the time being in force is 30th September and for others it is 31st July every year as have been prescribed u/s 139(1). For a layman sometimes it may c...

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Major Achievements of CBDT in Current Financial Year 2016-17

Income Tax - Major Achievements of CBDT in Current Financial Year 2016-17 so far include among others Enactment of The Benami Transactions (Prohibition) Amendment Act, 2016, Implementation of The Direct Tax Dispute Resolution Scheme, 2016 and of GAAR from Assessment Year 2018-19;...

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Income Tax Dept Identifies 67.54 lakh Potential Non-Filers

Income Tax - The Income Tax Department has conducted the fifth cycle of data matching which has identified an additional 67.54 lakh potential non-filers who have carried out high value transactions in the financial year 2014-15 but did not file return of income for the relevant assessment year i.e. A.Y 2015-16. ...

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ICAI solicits suggestions / Views on ITR Forms

Income Tax - To study the existing ITR Forms and suggest modifications to the same with a view to align the forms with latest provisions, simplification of forms for the benefit/ convenience of the taxpayers;...

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ICAI request members to Update PAN Details

Income Tax - In the recent past the Income Tax authorities have blocked the e- filing accounts of the members who either have not submitted their PAN details to the Institute or of those, in whose cases discrepancies have been found between records as available with the Institute and the database of the Income Tax Department on account of the mismatch...

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Income Tax Return Statistics for AY 2013-14 & 2014-15

Income Tax - CBDT has further released data relating to distribution of income and tax payable in respect of returns filed for Assessment Years 2013-14 and 2014-15. ...

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Bombay HC criticises CBDT move of extending of ITR due date for only two states & one Union territory

The chambers of Tax Consultant & Others Vs UOI (Bombay High Court) - It was argued that the above decisions were accepted by CBDT and the due date was extended in the respective territories of the High Court’s jurisdiction. Hon’ble HC after considering the above two judgments held that held that it is very unfair that benefit regarding an all India statute is res...

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Analysis of Gujarat HC judgement directing CBDT to extend ITR due date to 31.10.2015

All Gujarat Federation of Tax Consultants Vs CBDT (Gujarat High Court) - By this petition under article 226 of Constitution of India petitioners sought relief by way of writ and prayed before court that due date of filing ITR should be extended upto 30.11.2015. Following relief were sought in this instant writ petition...

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Analysis of P&H HC judgment directing CBDT to extend ITR due date to 31.10.2015

Vishal Garg Vs UOI (Punjab & Haryana High Court) - Vishal Garg Vs. UOI In the instant petition petitioners sought relief by way of writ under article 227 of the constitution of India and prayed before court that due date of filing ITR should be extended upto 31.10.2015....

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Guajrat HC also Directs CBDT to extend due date to 31st October 2015

All Gujarat Federation of Tax Consultants Vs CBDT (Gujarat High Court at Ahmedabad) - After Punjab & Haryana High Court the Gujarat High Court also directs CBDT to extend the due date for Filing of ITR to October 31st in its Judgement today. ...

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Extend ITR due date to 31st October 2015- P&H HC to CBDT

Vishal Garg & Ors. Vs Union of India & Anr. (Punjab & Haryana HC) - In the case of Vishal Garg & Ors. Vs. Union of India & Anr., Punjab & Haryana HC instructed CBDT extend due date of Tax Audit cases to 31st October 2015 from existing 30th September 2015. Its not clear if the due date for non audit cases also been extended ...

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Tax Audit & ITR due date extended for J&K State taxpayers

F.No. 225/195/2016/ITA.II - (18/10/2016) - CBDT, hereby extends the 'due date' for filing income tax returns and reports of audit under the provisions of Income-tax Act pertaining to Assessment Year 2016-2017 for all categories of taxpayers in the State of Jammu & Kashmir to 31st December, 2016...

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Extension of due date applies to all assesse who were required to file Return on 30.09.2016

F.No.225/195/2016/ITA.II - (30/09/2016) - It is further clarified that the extension of 'due-date' of 17.10.2016 would apply to all assessees who are required to file their return of income by 30th September, 2016 as per clause (a) of Explanation 2 to sub-section (1) of section 139 of Income-tax Act, 1961....

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Surging growth in e-filing of Income Tax Returns for F.Y. 16-17-reg.

NA - (08/08/2016) - The facility of e-verification of IT returns has been used by over 75.3 Lakh taxpayers till 5th August, 2016 as compared to 32.95 Lakh taxpayers last year till 7th September 2015. Of these Aadhar based E- verification was used by 17.68 lakh taxpayers during the current year as against 10.41 lakh tax...

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Verification of ITR through EVC pending due to non-filing of ITR-V

Circular No. 13/2016-Income Tax - (09/05/2016) - Verification of tax-returns for Assessment Years 2009-2010, 2010-2011, 2011-2012 2012-2013, 2013-2014 and 2014-2015 through EVC which are pending due to non-filing of ITR-V Form and processing of such returns-regd....

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Notification of Income Tax Returns for Assessment Year 2016-17

NA - (01/04/2016) - The Central Board of Direct Taxes has notified the forms for filing of Income-tax returns for Assessment Year 2016-17. These return forms, namely ITR-1 (Sahaj), ITR­2, ITR-2A, ITR-3, ITR-4, ITR-4S (Sugam), ITR-5, ITR-6, ITR-7 are available on the official website of the Department, http://www.incom...

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Recent Posts in "ITR"

Major Achievements of CBDT in Current Financial Year 2016-17

Major Achievements of CBDT in Current Financial Year 2016-17 so far include among others Enactment of The Benami Transactions (Prohibition) Amendment Act, 2016, Implementation of The Direct Tax Dispute Resolution Scheme, 2016 and of GAAR from Assessment Year 2018-19;...

Read More
Posted Under: Income Tax |

How You Can Correctly File Your Personal Income Tax Returns in India

July 31st is the last date in every year for filing one’s income tax returns for both resident and non-resident salary receiving individuals and also for people who are partners in firms with turnovers of less than an amount of Rs.1 Crore. Thus this is indeed a taxing process, and you can learn more about it as you keep reading on!...

Read More
Posted Under: Income Tax |

Need To Rationalize TAR And ITRs – A Measure To Remove Duplication and To Minimise Litigation

In the present article, efforts have been made to analyse drawbacks in present ITR / TAR and to suggest some measures to eliminate them....

Read More
Posted Under: Income Tax | ,

Income Tax Dept Identifies 67.54 lakh Potential Non-Filers

The Income Tax Department has conducted the fifth cycle of data matching which has identified an additional 67.54 lakh potential non-filers who have carried out high value transactions in the financial year 2014-15 but did not file return of income for the relevant assessment year i.e. A.Y 2015-16. ...

Read More
Posted Under: Income Tax |

ICAI solicits suggestions / Views on ITR Forms

To study the existing ITR Forms and suggest modifications to the same with a view to align the forms with latest provisions, simplification of forms for the benefit/ convenience of the taxpayers;...

Read More
Posted Under: Income Tax |

ICAI request members to Update PAN Details

In the recent past the Income Tax authorities have blocked the e- filing accounts of the members who either have not submitted their PAN details to the Institute or of those, in whose cases discrepancies have been found between records as available with the Institute and the database of the Income Tax Department on account of the mismatch...

Read More
Posted Under: Income Tax |

Income Tax Return Statistics for AY 2013-14 & 2014-15

CBDT has further released data relating to distribution of income and tax payable in respect of returns filed for Assessment Years 2013-14 and 2014-15. ...

Read More
Posted Under: Income Tax |

Tax Audit & ITR due date extended for J&K State taxpayers

F.No. 225/195/2016/ITA.II (18/10/2016)

CBDT, hereby extends the 'due date' for filing income tax returns and reports of audit under the provisions of Income-tax Act pertaining to Assessment Year 2016-2017 for all categories of taxpayers in the State of Jammu & Kashmir to 31st December, 2016...

Read More

Extension of due date applies to all assesse who were required to file Return on 30.09.2016

F.No.225/195/2016/ITA.II (30/09/2016)

It is further clarified that the extension of 'due-date' of 17.10.2016 would apply to all assessees who are required to file their return of income by 30th September, 2016 as per clause (a) of Explanation 2 to sub-section (1) of section 139 of Income-tax Act, 1961....

Read More

Update PAN to avoid blocking of e-filing a/c by Income Tax Dept.

The issue of deactivating of the e-filing accounts of the members of the ICAI by the Income Tax Department on account of the mismatch in ‘Name’/ ‘PAN No.’ / ‘Date of Birth’ in the Income Tax records and the records available with the ICAI was taken up with the Income Tax Authorities on 26th August 2016....

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Posted Under: Income Tax | ,
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