Income Tax Return

ITR season- Due Date / Last Date of filling of Return- Recent Changes

Income Tax - ITR due date  As 31st March is approaching many individuals will now wake up and will rush to the CA’s office. Due Date of Income Tax Return  Due date of filing return Person 31st July of every Assessment year Individual / HUF 30th September of every Assessment year Company or other than company assessee who is […]...

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Consequences of Non-Filing of the Income Tax Return

Income Tax - Penalty u/s 271F: If a person fails to furnish return before the end of the relevant assessment year, the assessing officer may levy a penalty of Rs. 5,000/-. Thus, Non-filing of Income Tax Return may result in the penalty of Rs. 5,000/-....

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Last Date of ITR for A.Y. 2017-18 after Amendment

Income Tax - Due Date of Income Tax Return As per Section 139(1) of the act, Due Date of filling of Income Tax Return is 30th July of every Assessment year for Individual / HUF but for the company or other than company assessee who is required to furnish audit report u/s 44AB under income tax act or […]...

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Filing ITR for the first time? – Here’s what you need to know

Income Tax - Once you start earning money, don’t forget some portion of your online income belongs to the government....

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31st March, 2018: Warning Bell for filing of Income Tax Return!

Income Tax - Yes, you heard it right. This is a warning bell if you are over with the budget 2018 updates. It’s time to check whether your income tax return is filed or not. 31st March’2018: The last date for Income Tax return u/s 139(4) for Financial Year 2015-2016 & 2016-2017. So, this will be last chance to file the […]...

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Auto fill of TDS data in Income Tax Returns (ITR)

Income Tax - Currently an assessee filing his income tax return needs to fill all the data manually wrt the taxes paid by him/ on his behalf (TDS) in excel utility. Since TDS returns are e-filed now days, an asseesee by manually punching the data relating to prepaid taxes like TDS is prone to committing errors....

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Income Tax e-Filing Helpline Numbers

Income Tax - Revised e-Filing Helpdesk number for General Queries related to Income Tax, Rectification, Refund, Intimation and other Income Tax Processing Related Queries, e-Filing of Income Tax Return or Forms and other value added services provided through e-Filing Portal, Form 16, Tax Credit (Form 26AS) and other queries related to TDS statement, F...

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CBDT Releases Income Tax Return Statistics for AY 2015-16

Income Tax - Central Board of Direct Taxes (CBDT) has been proactively releasing Time-series Data relating to Direct Tax collections, number of taxpayers, cost of collection etc., as also data of number of PAN allotted and data relating to distribution of income and tax payable in the returns filed for different Assessment Years....

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25% growth in number of Income Tax Returns filed

Income Tax - Press Information Bureau Government of India Ministry of Finance 07-August-2017 17:13 IST 25% growth noin number of Income Tax Returns filed in current fiscal Advance Tax (Personal Income Tax) collections up by 41% As a result of demonetization and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns ...

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Match Incomes/ Receipts & deduction claimed with Form 16/16A

Income Tax - Taxpayer Submitting Income Tax Return for Assessment year 2017-18 to ensure Incomes/Receipts and deduction claimed matches with Form 16/16A issued by deductor ...

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Aadhaar Mandatory for filing IT Returns: Madras HC

Mr.Thiagarajan Kumararaja Vs Union of India (Madras High Court) - Those who are not PAN holders, while applying for PAN, they are required to give Aadhaar number. This is the stipulation of sub-section (1) of Section 139AA, which we have already upheld....

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Madras HC allows filing of IT return without insistence on Aadhar

Preeti Mohan Vs Union of India (Madras High Court) - Preeti Mohan Vs Union of India (Madras High Court) The petitioner before this Court is a practicing advocate and she has filed this writ petition praying for a direction to the ITO to allow her to file income tax returns for the assessment year 2017-18 either manually or through e-filing facility wi...

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Kerala HC allows IT Returns filing without Quoting of Aadhaar

Prasanth Sugathan Vs. Union Of India (High Court Of Kerala At Ernakulam) - Writ Petition (civil) praying inter alia that in the circumstances stated in the affidavit filed along with the WP(C) the High Court be pleased to issue an interim order, directing the respondents to allow the petitioner to file IT returns through e-filing or through Manual Filing without insisting ...

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Delay in filing return due to sufficient cause should be condoned

M/s Regen Infrastructure & Services Pvt. Ltd. Vs CBDT , CIT & ITO (Madras High Court) - The Hon'ble Madras High court in the above cited case held that in deciding the application for condonation of delay in filling return of income the approach of the CBDT should be justice oriented so as to advance the cause of justice....

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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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Processing of returns filed in F.Y. 2015-16 to get time barred on 31.03.2017

AST Instruction No. 143 - (17/03/2017) - As you are aware that returns furnished by the assesses during the FY 2015-16 are pending for processing u/s 143(1) and the limitation date for the same is 31.03.2017. ...

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Income Tax Return filing date in Jammu & Kashmir extended

F.No. 225/195/2016/ITA.II - (29/07/2016) - CBDT extends the 'due-date' for filing Returns of Income from 31st July, 2016 to 31st August, 2016, in case of Income-tax assessees in the State of Jammu & Kashmir who are required to file their return under section 139(1) of the Act by the said 'due date'...

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Dept to accept Income Tax Returns on Saturday & Sunday

F.No.225/195/2016/ITA.II - (29/07/2016) - In order to facilitate filing of income-tax returns on 30th July & 31st July, 2016 (Sunday), CBDTin exercise of powers , hereby directs that necessary arrangements be made for receiving Income tax returns in all income-tax offices throughout the country on these days, during the normal working hours...

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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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Include Interest Income in your Tax Return: CBDT

NA - (23/03/2016) - CBDT would like to inform the persons earning interest income that interest credited/received on deposits is taxable unless exempt under section 10 of the Income-tax Act. Such interest income should be shown in the return of income even in cases where Form 15G/15H has been filed if the earning is no...

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Income Tax Return’s Popular Posts

Recent Posts in "Income Tax Return"

ITR season- Due Date / Last Date of filling of Return- Recent Changes

ITR due date  As 31st March is approaching many individuals will now wake up and will rush to the CA’s office. Due Date of Income Tax Return  Due date of filing return Person 31st July of every Assessment year Individual / HUF 30th September of every Assessment year Company or other than company assessee who is […]...

Read More
Posted Under: Income Tax |

Consequences of Non-Filing of the Income Tax Return

Penalty u/s 271F: If a person fails to furnish return before the end of the relevant assessment year, the assessing officer may levy a penalty of Rs. 5,000/-. Thus, Non-filing of Income Tax Return may result in the penalty of Rs. 5,000/-....

Read More
Posted Under: Income Tax |

Last Date of ITR for A.Y. 2017-18 after Amendment

Due Date of Income Tax Return As per Section 139(1) of the act, Due Date of filling of Income Tax Return is 30th July of every Assessment year for Individual / HUF but for the company or other than company assessee who is required to furnish audit report u/s 44AB under income tax act or […]...

Read More
Posted Under: Income Tax |

Why should you file Income Tax Return year after year

Is Income Tax Filing nothing more than just paying taxes? Think twice. Several benefits are available on filing ITRs, which are not available otherwise....

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Posted Under: Income Tax |

Filing ITR for the first time? – Here’s what you need to know

Once you start earning money, don’t forget some portion of your online income belongs to the government....

Read More
Posted Under: Income Tax |

31st March, 2018: Warning Bell for filing of Income Tax Return!

Yes, you heard it right. This is a warning bell if you are over with the budget 2018 updates. It’s time to check whether your income tax return is filed or not. 31st March’2018: The last date for Income Tax return u/s 139(4) for Financial Year 2015-2016 & 2016-2017. So, this will be last chance to file the […]...

Read More
Posted Under: Income Tax |

Auto fill of TDS data in Income Tax Returns (ITR)

Currently an assessee filing his income tax return needs to fill all the data manually wrt the taxes paid by him/ on his behalf (TDS) in excel utility. Since TDS returns are e-filed now days, an asseesee by manually punching the data relating to prepaid taxes like TDS is prone to committing errors....

Read More
Posted Under: Income Tax |

Income Tax Return Filing: Time limit and consequences of delay

Persons required to file the return of income ♣ In the case of companies: It is compulsory for a company to file income tax return irrespective of its income or loss. ♣ In the case of partnership firms: A partnership firm (including LLP), has to file its return of income compulsorily, irrespective of its income […]...

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Posted Under: Income Tax |

Income Tax Return Filing by Individuals for A.Y 2018-19

Return of income is the format in which the assessee furnishes information related to his total income and tax payable. It is a declaration of income by the assessee in the prescribed format. Individuals who are mandatorily required to file the Income Tax Return: As per Section 139(1) “If the total income or the total […]...

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Posted Under: Income Tax |

Income Tax e-Filing Helpline Numbers

Revised e-Filing Helpdesk number for General Queries related to Income Tax, Rectification, Refund, Intimation and other Income Tax Processing Related Queries, e-Filing of Income Tax Return or Forms and other value added services provided through e-Filing Portal, Form 16, Tax Credit (Form 26AS) and other queries related to TDS statement, F...

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Posted Under: Income Tax | ,
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