Important update for income tax filers: Prevalidation of bank account is now mandatory for receiving income tax refunds. Learn how to pre-validate your bank account on the income tax e-filing portal.
After multiple extensions of due date for linking PAN and Aadhar, finally the due date coming up is 31st of December 2019 (extended further up-to 31st March 2020 vide Income Tax Notification dated 30.12.2019) The government in its last budget has made a law by inserting section 139AA in Income-tax Act, 1961 making it mandatory […]
Finance Act has also inserted section 271DB in the Act, which provides for levy of penalty of five thousand rupees per day in case of failure by the specified person to comply with the provisions of section 269SU.
