Income Tax Return

Filing of Belated Return under Income Tax Act

Income Tax - Have you missed the extended income tax return (ITR) filing deadline for FY 2017-18 which was 31st August, 2018? Don’t worry, you can still have time to file your return. But for filing ITR after due date few things which you must be aware. In view of that, give a thorough read to this article. […]...

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Filing Income Tax Returns In India- for Residents and NRIs

Income Tax - Under the provisions of Indian Income Tax Laws, if the income of a person exceeds the basic exemption limit, filing of Income Tax Return (ITR) is required. However, In those cases where a person have an asset or financial interest in an entity located outside India or he/she is signing authority in a foreign bank account, then filing of I...

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Compulsory Filing of Income Tax Return for Co-Op Housing Societies

Income Tax - Every Co operative Housing Society require to file Income Tax Return on or before due date to get deduction u/s 80P of Income Tax Act 1961 from A.Y. 2018-19...

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Filing Income Tax Tax Return after Due Date of Filing

Income Tax - Lot of people misses the deadline every year due to lack of time or plain laziness. Did you miss it too? In case you have, do not worry, you can still file the belated return.  As a tax payer, you are likely to fall under one of these 4 categories. The associated rules and implications are outlined below....

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Tax sites / Govt portals need Speed Booster

Income Tax - On 31St August, all the professionals were just sitting helplessly infront of the Income Tax E-filing site that was moving with the speed of “Three toed sloths” and the last date of filing of return was ending with the speed of “Cheetah”. All were just praying that either the site runs or date gets extended. […]...

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E-Returns Filed by Individual Tax Payers during last four financial years

Income Tax - E-Returns Filed by the Individual Tax Payers There has been a growth in the number of e-Returns filed by the individual tax payers during the last four years. The number of income-tax returns filed and the annual growth rate during the last four financial years are as under: Financial Number of Income Tax Returns Growth […]...

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Income Tax Return filing registers an upsurge of 71% upto 31.08.2018

Income Tax - A remarkable increase is seen in the number of ITRs in 2 categories ie ITRs filed by salaried Individuals (ITR-1& 2) as also those availing the benefit of the Presumptive Taxation Scheme(ITR-4)....

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File Your Income Tax Return by 31st August, 2018

Income Tax - File Your Income Tax Return by 31st August, 2018 (Last date for persons whose accounts are not liable for audit) For e-filing returns of Income log on to on to https://incometaxindiaefiling.govin Consequences of not filing Income Tax Return on time ♦ Belated return cannot be revised ♦ Fee for late filing under Section 234F: i. [&helli...

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Extend due date of filing Income-tax returns for AY 2018-19: ICAI

Income Tax - Vide its representation requested CBDT that the due date of filing return of income be extended by at least a month from the prescribed date of 31stJuly, 2018 for AY 2018-19....

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Extend Due Date of ITR for AY 2018-19

Income Tax - In the interest of the Taxpayers and the Tax Professionals, we hereby request Your Honour to kindly extend the due dates for filing of returns by at least 2 months, in both the cases, i.e. till 30.09.2018 for non audit cases and 30.11.2018 for audit cases....

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Allow ITR filing without Aadhaar linkage atleast till 31.03.2019: Delhi HC

Shreyasen, & ANR Vs Union of India & ORS (Delhi High Court) - Delhi HC held that that at least for the period till 31.03.2019, the CBDT shall issue an appropriate direction, and also create a platform by amending the digital form of substituting them properly to enable opt out from the mandatory requirement of having to furnish Aadhar Registration or Aadhar li...

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Formulate rational policy for processing IT Returns sent to AO: HC

Tata Projects Limited Vs. Deputy Commissioner of Income­ tax (Bombay High Court) - Yet again, Section 143(1D) of the Income Tax Act came under the scrutiny of a Constitutional Court. This time, it was the High Court of Bombay, which held categorically while considering many writ petitions in Tata Projects Limited vs. Deputy Commissioner of Income Tax Range 2(3)(2) & Ors., that Sec...

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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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Income Tax Return Due Date extended to 31/08/2018

F. No. 225/242/2018/ITA.II - (26/07/2018) - CBDT extends 'due-date' of filing income-tax return for assessment-year 2018-2019 as prescribed in section 139(1) of the Act, from 31st July, 2018 to 31st August, 2018....

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CBDT Releases ITR 1 to ITR 7 for Financial Year 2017-18 / A.Y. 2018-19

Notification No. 16/2018-Income Tax [G.S.R. 332(E)] - (03/04/2018) - CBDT releases Forms Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V as applicable for Financial Year 2017-18 or Assessment Year 2018-19....

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AO should electronically process return pushed to it by CPC : CBDT

F.No. 225/53/2018/ITA.II - (28/03/2018) - The returns pushed to the Assessing Officer for processing by the CPC are required to be processed electronically on the ITBA. However, in exceptional circumstances, whenever returns cannot be processed because of technical difficulties in functioning of ITBA, in order to provide an uninterrupted ta...

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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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Recent Posts in "Income Tax Return"

E-Returns Filed by Individual Tax Payers during last four financial years

E-Returns Filed by the Individual Tax Payers There has been a growth in the number of e-Returns filed by the individual tax payers during the last four years. The number of income-tax returns filed and the annual growth rate during the last four financial years are as under: Financial Number of Income Tax Returns Growth […]...

Read More
Posted Under: Income Tax |

Filing of Belated Return under Income Tax Act

Have you missed the extended income tax return (ITR) filing deadline for FY 2017-18 which was 31st August, 2018? Don’t worry, you can still have time to file your return. But for filing ITR after due date few things which you must be aware. In view of that, give a thorough read to this article. […]...

Read More
Posted Under: Income Tax |

Filing Income Tax Returns In India- for Residents and NRIs

Under the provisions of Indian Income Tax Laws, if the income of a person exceeds the basic exemption limit, filing of Income Tax Return (ITR) is required. However, In those cases where a person have an asset or financial interest in an entity located outside India or he/she is signing authority in a foreign bank account, then filing of I...

Read More
Posted Under: Income Tax |

Compulsory Filing of Income Tax Return for Co-Op Housing Societies

Every Co operative Housing Society require to file Income Tax Return on or before due date to get deduction u/s 80P of Income Tax Act 1961 from A.Y. 2018-19...

Read More
Posted Under: Income Tax |

Filing Income Tax Tax Return after Due Date of Filing

Lot of people misses the deadline every year due to lack of time or plain laziness. Did you miss it too? In case you have, do not worry, you can still file the belated return.  As a tax payer, you are likely to fall under one of these 4 categories. The associated rules and implications are outlined below....

Read More
Posted Under: Income Tax |

Tax sites / Govt portals need Speed Booster

On 31St August, all the professionals were just sitting helplessly infront of the Income Tax E-filing site that was moving with the speed of “Three toed sloths” and the last date of filing of return was ending with the speed of “Cheetah”. All were just praying that either the site runs or date gets extended. […]...

Read More

Maintain Proper Proof While Filing Income Tax Return

In India, tax laws are admittedly complicated because of various deductions, exemptions, relief and rebates. Being liable to pay tax creates a responsibility for an individual to do tax planning so that he should arrange his financial activities in such a way that maximum tax benefits are enjoyed....

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Posted Under: Income Tax | ,

Income Tax Return filing registers an upsurge of 71% upto 31.08.2018

A remarkable increase is seen in the number of ITRs in 2 categories ie ITRs filed by salaried Individuals (ITR-1& 2) as also those availing the benefit of the Presumptive Taxation Scheme(ITR-4)....

Read More
Posted Under: Income Tax |

What Happens If You Miss Income Tax Return Filing Deadline?

An INCOME TAX RETURN is the tax form or forms used to file income tax with the Income Tax Department. The tax returns usually in a predefined worksheet format where the income figures used to calculate the tax liability are written into the documents themselves. The due date for filing of Income Tax Returns for […]...

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Things to be done before March 31 by individual Assessee

Tax Planning is important for every taxpayer and the same needs to be done before the end of the year to which Income Pertains. In Addition to Tax Planning Assessee needs to Collect Relevant Supporting and Calculate His Tax Due and Pay the same....

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Posted Under: Income Tax |

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