Income Tax news

Postponement of Deadline Fine Income Returns Till September 30

Postponement of Deadline Fine Income Returns Till September 30 Instead of July 31,2020! 1. Introduction: The Central Board of Direct Taxes has once again, relieved the taxpayers from going into an unnecessary hassle for submitting their ITR returns and saving them from paying penal charges unnecessarily. On July 29, the CBDT has formall...

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ITR 1, 2, 3 & 4 for AY 2020-21 are available for e-Filing

ITR 1, ITR 2, ITR 3 & ITR 4 for AY 2020-21 are available for e-Filing. Other ITRs will be available shortly. Please read the instruction given above before start downloading and using the ITR utility for for AY 2020-21. The utility by default will get downloaded in your system “download” folder in a compressed […]...

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All you need to know about TDS Rules before filling your IT returns!

The Government is planning to specify a certain category of taxpayers to pay their entire tax liability for FY 2019-20 in advance, which means such persons shall be required to pay tax even before they got to know their full income and the TDS applicable to it. The new rules shall apply to the taxpayers, whose self -assessment tax [&h...

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Request for Extension of Due Date of ITR for AY 2019-20

Tax Bar Association made a request to Minister of Finance & to CBDT for  Extension of Due date in filing the Returns of Income under Income tax act for the Assessment year 2019-20 [Financial year ending 31st of March 2019]....

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वित्त वर्ष 2018-19 के लिए आयकर के स्वैच्छिक अनुपालन पर ई-अभियान

वित्त वर्ष 2018-19 के लिए आयकर के स्वैच्छिक अनुपालन पर ई-अभियान शुरू करने के लिए सीबीडीटी 20 जुलाई, 2020 से आयकर विभाग की नई पहल 20 जुलाई, 2020 से ...

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Extended due dates for TDS/TCS related compliances

Due date of TDS/TCS related compliances were extended by CBDT on 24.06.2020 vide CBDT’s notification No. 35/2020, dated 24-06-2020. Here we have compiled due date of filing TDS/TCS statement (Form 24Q, 26Q, 26QB, 26QC, 26QD 27Q and 27EQ) of FY 2019-20 and due date for issue of TDS/TCS certificate (Form 16 and Form 16A). EXTENSION [&...

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New Form 26 AS Will Guide Taxpayers In E-Filing of Returns: CBDT

Improved Form 26AS will contain details of taxpayers’ high valued transactions Filing income tax returns could get even more easier and transparent for individual taxpayers from this assessment year. This is because the newly revamped Form 26AS—which is effective from June 1– will also contain the information on taxpayers high value...

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Income Tax Due dates falling on 31st July 2020

Every year July end due dates have one thing in common and that is ITR filing for the taxpayers whose accounts are not required to be audited. But this time around we are all locked up in our homes due to the COVID-19 pandemic and it’s implication being extension of compliance due dates. Thus, this […]...

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e-campaign on voluntary Income Tax compliance for FY 2018-19

CBDT has provide relief measure to taxpayers for filing of belated and revised return w.e.f. 20 July 2020 for the financial year(“FY”) 2018-19, till 31 July 2020. Please be apprised that earlier the last date for said compliance was 31 March 2020....

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E-Campaign for Voluntary Income Tax Compliance : CBDT

The income-tax department will start a 11-day e-campaign starting July 20, 2020, for voluntary tax compliance aimed at such assesses who are either non-filers or have discrepancies/deficiency in their tax returns for financial year 2018-19. As per the statement of Central Board of Direct Taxes (CBDT), issued on Saturday i.e. July 18, 2020...

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