Income Tax Return

Burden of huge tax on belated filing of Return of Income

Income Tax - The Ministry of Finance has not extended the due date of filing of return of income for non-audit cases beyond 10th January 2021 and for instance if an individual files a return of income declaring income between Rs. 2,50,000/- (Rupees Two Lakh and Fifty Thousand only) and Rs. 5,00,000/- (Rupees Five Lakhs only), though he […]...

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ITR (Income Tax Return) Overview and Penalty Provisions

Income Tax - Income Tax Return (ITR): Income Tax Return (ITR) is the form in which assessee files information about his/her Income and tax thereon to Income Tax Department. The tax liability of a taxpayer is calculated based on his or her income. it is compulsory to file income tax returns if  income is more than the basic […]...

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Extension of due date for filing TAR/ITR – HC declined to interfere

Income Tax - High Court (HC) declined to interfere in the matter of extension of the due date for filing Tax Audit Report (TAR) and Income Tax Return (ITR) The Hon’ble Gujarat High Court in All Gujarat Federation of Tax Consultants v. Union of India [R/Special Civil Application No.  13653 and 660 of 2021, dated January 13, 2021] […]...

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Income Tax e-Filing Vault – Higher Security

Income Tax - ‘e-Filing Vault’ – An Enhanced Security for e-Filing Account To secure your e-Filing account against any fraudulent activity, ‘e-Filing Vault’, a two level authentication has been introduced to add an additional layer of security for secured access. e-Filing Vault limits the options for ‘Login’ an...

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Income Tax e-Filing Reset Password

Income Tax - Forgot your Password? Not to Worry! Now there are 3 Easy ways to reset your Password 1. Using Aadhaar OTP Pre-requisite: To generate Aadhaar OTP, Taxpayer’s PAN and Aadhaar must be linked. To Reset Password using the ‘Using Aadhaar OTP’ option, the steps are as follows: STEPS : 1. In Homepage, Click on “LOGIN HERE” [&hel...

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Response to outstanding Income Tax Demand

Income Tax - The Taxpayer can submit the response online to the outstanding demand by performing the below steps. 1. Go to the Income Tax e-Filing portal, `www.incometaxindiaefiling.govin’ 2. Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click ‘Login’. 3. Post login, click on the ‘e-File’ ...

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View Tax Credit Statement (Form 26AS)- Easy Guide

Income Tax - The Form 26AS displays the various taxes deducted/paid on individual’s income from/through various sources. It includes details of, ♦ Tax Deducted at Source (TDS) ♦ Tax Collected at Source (TCS) ♦ Advance Tax/ Self-Assessment Tax paid ♦ Regular Tax ♦ Tax Refund details for an Assessment Year, etc. Perform the following ste...

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All India Protest Call against GST/Income Tax Issues by WMTPA

Income Tax - Government is neither listening to representations submitted by various associations, nor listening to court direction in true spirit. In Covid 19 pandemic, all professionals and Trade, ignoring life and death risk, ensured that, India will stand again, paid taxes in lakh crores but it seems government doesn’t recognize us....

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e-Proceeding of Income Tax

Income Tax - What is an ‘e-Proceeding’? e-proceedings is an electronic platform for conducting proceedings in an end to end manner created by the Income Tax department. The objective here is to bring about transparency and efficiency in the income tax related proceedings. All the notices/intimations/letters from the department are made ava...

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Extend due dates of GST, Income Tax & ROC Compliances

Income Tax - All India Joint Representation Committee for GST have filed representation by way of join petition of 24 GST and Trade Associations and 5226 signatories to the signature campaign considering short extension granted in connection with GSTR 9 & 9C for FY 1819 & FY 1920 , Income Tax Returns, Tax Audit and Transfer Pricing Reports [&h...

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Uttarakhand HC directs CBDT to consider representation on due date extension

The Dehradun Chartered Accountants Society Vs. Union of India (High Court of Uttarakhand at Nainital) - The Dehradun Chartered Accountants Society Vs. Union of India (High Court of Uttarakhand at Nainital) High Court held that Admittedly, the country continues to suffer and to reel under the COVID-19 pandemic. A large number of assesses still find it difficult to even meet their Chartered Accountants ...

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Gujarat HC rejects TAR/ITR due date date extension writ applications

All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) - At this stage, we may only observe that the CBDT may consider issuing an appropriate circular taking a lenient view as regards the consequences of late filing of the Tax Audit Reports as provided under Section 271B of the Act. We leave it to the better discretion of the CBDT in this regard....

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Consider extension of Income Tax Due dates: Gujarat HC to UOI

All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) - All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) High Court held that respondent No.1 – Union of India, Ministry of Finance should immediately look into the issue, more particularly, the representation dated 12th October 2020 at Annexure : I of the paper book (page ...

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Extension of Due date for TAR & IT Returns- Gujarat HC fixes next hearing on 31.12.2020

Gujarat Federation of Tax Consultants Vs Union of India (Ahmedabad High Court) - Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) Gujarat High Court heard petition for extension of due dates in TAR and ITR for A Y 2020-21 on today. Court issued notice and fix next hearing on tomorrow. FULL TEXT OF THE HIGH COURT ORDER/JUDGEMENT Heard Mr. S. N. Soparka...

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Income tax returns are public documents & can be summoned by Court

Pragati Green Meadows and Resorts Ltd. Vs M. Praneetha (Telangana High Court) - Income tax returns are public documents and they can be summoned by the Court. If same are produced before the Court , the same does not result in violation of Article 21 of Constitution of India, as they are Government documents and are accessible to others....

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Govt notifies extend due dates of Tax Audit/ITR/VSV Scheme

Notification No. 93/2020-Income Tax [S.O. 4805(E).] - (31/12/2020) - Govt notifies extend due dates of Tax Audit/ITR/VSV Scheme vide Notification No. 93/2020-Income Tax dated 31st December, 2020 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 93/2020-Income Tax New Delhi, the 31st December, 2020 S.O. 4805(E).—In exercise...

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Govt extend due dates of Tax Audit/ITR/VSV Scheme/GSTR 9/9A/9C

NA - (30/12/2020) - In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19, the Govt further extends the dates for various compliances. Due date for filing ITR (Non tax audit) extended till 10/01/2021. Due date for filing Tax Audit and TP Audit Report extende...

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CBDT extends due date for filing ITRs for AY 2019-20 to 30.11.2020

F. No. 225/150/2020-ITA-II - (30/09/2020) - On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs for Assessment Yr 2019-20 from 30th September, 2020 to 30th November, 2020. Order u/s 119(2a) issued. F. No. 225/150...

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CBDT to start Voluntary Income Tax Return Compliance campaign

Release ID: 1639664 - (18/07/2020) - The Income Tax Department is all set to start an e-campaign on voluntary compliance of Income Tax for the convenience of taxpayers from Monday, the 20th of July, 2020. The 11 days campaign ending on 31st July, 2020 focuses on the assessees/taxpayers who are either non-filers or have discrepancies/de...

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One-time Relaxation for Verification of Last 5 years “E-filed” Income Tax Returns

Circular No. 13/2020-Income Tax - (13/07/2020) - One-time relaxation for Verification of tax-returns for the Assessment years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITR-V form and processing of such returns...

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Recent Posts in "Income Tax Return"

Burden of huge tax on belated filing of Return of Income

The Ministry of Finance has not extended the due date of filing of return of income for non-audit cases beyond 10th January 2021 and for instance if an individual files a return of income declaring income between Rs. 2,50,000/- (Rupees Two Lakh and Fifty Thousand only) and Rs. 5,00,000/- (Rupees Five Lakhs only), though he […]...

Read More
Posted Under: Income Tax |

ITR (Income Tax Return) Overview and Penalty Provisions

Income Tax Return (ITR): Income Tax Return (ITR) is the form in which assessee files information about his/her Income and tax thereon to Income Tax Department. The tax liability of a taxpayer is calculated based on his or her income. it is compulsory to file income tax returns if  income is more than the basic […]...

Read More
Posted Under: Income Tax |

Uttarakhand HC directs CBDT to consider representation on due date extension

The Dehradun Chartered Accountants Society Vs. Union of India (High Court of Uttarakhand at Nainital)

The Dehradun Chartered Accountants Society Vs. Union of India (High Court of Uttarakhand at Nainital) High Court held that Admittedly, the country continues to suffer and to reel under the COVID-19 pandemic. A large number of assesses still find it difficult to even meet their Chartered Accountants and to file their Income Tax Audit Repor...

Read More

Gujarat HC rejects TAR/ITR due date date extension writ applications

All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court)

At this stage, we may only observe that the CBDT may consider issuing an appropriate circular taking a lenient view as regards the consequences of late filing of the Tax Audit Reports as provided under Section 271B of the Act. We leave it to the better discretion of the CBDT in this regard....

Read More

Extension of due date for filing TAR/ITR – HC declined to interfere

High Court (HC) declined to interfere in the matter of extension of the due date for filing Tax Audit Report (TAR) and Income Tax Return (ITR) The Hon’ble Gujarat High Court in All Gujarat Federation of Tax Consultants v. Union of India [R/Special Civil Application No.  13653 and 660 of 2021, dated January 13, 2021] […]...

Read More
Posted Under: Income Tax | ,

Response to outstanding Income Tax Demand

The Taxpayer can submit the response online to the outstanding demand by performing the below steps. 1. Go to the Income Tax e-Filing portal, `www.incometaxindiaefiling.govin’ 2. Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click ‘Login’. 3. Post login, click on the ‘e-File’ ...

Read More
Posted Under: Income Tax |

View Tax Credit Statement (Form 26AS)- Easy Guide

The Form 26AS displays the various taxes deducted/paid on individual’s income from/through various sources. It includes details of, ♦ Tax Deducted at Source (TDS) ♦ Tax Collected at Source (TCS) ♦ Advance Tax/ Self-Assessment Tax paid ♦ Regular Tax ♦ Tax Refund details for an Assessment Year, etc. Perform the following ste...

Read More
Posted Under: Income Tax |

All India Protest Call against GST/Income Tax Issues by WMTPA

Government is neither listening to representations submitted by various associations, nor listening to court direction in true spirit. In Covid 19 pandemic, all professionals and Trade, ignoring life and death risk, ensured that, India will stand again, paid taxes in lakh crores but it seems government doesn’t recognize us....

Read More
Posted Under: Income Tax | ,

Income Tax e-Filing Vault – Higher Security

‘e-Filing Vault’ – An Enhanced Security for e-Filing Account To secure your e-Filing account against any fraudulent activity, ‘e-Filing Vault’, a two level authentication has been introduced to add an additional layer of security for secured access. e-Filing Vault limits the options for ‘Login’ an...

Read More
Posted Under: Income Tax |

e-Proceeding of Income Tax

What is an ‘e-Proceeding’? e-proceedings is an electronic platform for conducting proceedings in an end to end manner created by the Income Tax department. The objective here is to bring about transparency and efficiency in the income tax related proceedings. All the notices/intimations/letters from the department are made ava...

Read More
Posted Under: Income Tax |

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