Income Tax Return

Income Tax Returns (ITRs)-Forms, Due Dates and Late Fees

Goods and Services Tax - The last date for filing Income Tax Return is July 31st of every year (Extended up to 31st August 2019 for Assessment Year 2019-2020 and with few certain exceptions as provided above), which can be belatedly filed up to March 31. For example, Income Tax Returns for  Assessment Year 2019-20 (Financial Year 2018-2019), can be filed belated...

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Changes in Income Tax Return for AY 2019-20

Goods and Services Tax - The CBDT has notified the Income-tax Return (ITR) Forms for the Assessment Year 2019-20 with many changes and revisions. While the last date for filing income tax returns has been extended to August 31 for FY 2018-19, the changes and penal clauses for late filing mean one should start the process as soon as possible. ITR 1 […]...

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Income tax return through ‘e-filing Lite’- Faster/Lighter

Goods and Services Tax - Hello friends, greetings for the day in the current article we will discuss about the newly launched ‘e-filing lite’ for the sole purpose of hassle free return filing as quickly as possible Introduction As we know the last date for return filing of certain section of taxpayers has been extended from 31st July to 31st […...

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Precautions while preparing Income Tax Return and recent FAQs

Goods and Services Tax - Precautions while preparing Income Tax Return (ITR) – Taxpayer has to first fill ‘Part A General’ (Personal Information) correctly. Rest of the utility will function based on information provided in Part A General. For example, the field 80 TTB will be enabled only for Senior citizens based on the Date of birth and Residential s...

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ITR Filing- I am getting ‘invalid XML’ while trying to upload XML?

Goods and Services Tax - I am getting ‘invalid XML’ while trying to upload the xml? ♣ Invalid XML error may arise due to the following scenarios, 1. The taxpayer might have generated the XML file by using the older version of ITR utility. 2. The taxpayer might have altered or edited the XML file generated from the ITR utility […]...

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Extend Due Date for Filing of Income Tax and GST Returns

Goods and Services Tax - Karnataka State Chartered Accountants Association submitted a Memorandum to Smt. Nirmala Sitharaman, Hon. Union Minister of Finance and Corporate Affairs seeking EXTENSION OF DUE DATE FOR FILING OF INCOME TAX AND GST RETURNS. Full text of the representation is as follows:- KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R.) Date: 10th ...

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Extend GST, Income Tax and other due dates falling in Aug & Sep 2019

Goods and Services Tax - Goods & Services Tax Practitioners Association of Maharashtra has requested Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance Government of India for Extension of due date for filing GSTR-9 & GSTR-9C for F.Y. 2017-18 & other due dates falling in August and September 2019. Text of the l;etter is as follows:- GOOD...

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Income tax department Launches lighter version of e-Filing portal

Goods and Services Tax - Income tax department is launching ‘e-Filing Lite’, a lighter version of e-Filing portal with a focus on filing of Income Tax Return (ITR) by the taxpayers. The same can be accessed by clicking ‘e-Filing Lite’ button in home page. The current e-Filing portal having all the services can be accessed by clicking on &#...

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Issues faced by assessees in resolution of grievances in ITBA system

Goods and Services Tax - We wish to bring to your kind notice that with the change of Internal working software of department from AST system to the ITBA system from A.Y. 2016-17 onwards, the members are facing following problems regarding functionality which need immediate attention for early disposal of grievances of the assessees...

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No proposal to extend last date for filing Income Tax Returns: Govt

Goods and Services Tax - Extension of last date for filing IT returns Government has recently changed Form 16 and Form 24 Q to bring more disclosures. In order to enable pre-filling of return of income of salaried taxpayers, the Government has amended Form No. 16 (certificate for tax deduction) and Form No. 24Q (quarterly statement of tax deducted) vide […...

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Due date for Filing Income Tax Return for HUF Partner- Belated return cannot be revised

Ajay Kumar Gupta (HUF) Vs ACIT (ITAT Delhi) - Since assessee was an HUF and HUF itself could not become a working partner in the partnership firm, therefore, the due date of filing of the return applicable to assessee was 31st July of the relevant assessment year and belated return filed by assessee could not be revised....

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MD & Director are equally responsible to file IT returns of Company

Rakshit jain Vs ACIT (Delhi High Court) - Rakshit jain Vs ACIT (Delhi High Court) It is the argument of the petitioners that the obligation to verify and submit the ITR on behalf of the company has been placed by the legislature at the door of the managing director of the company and, consequently, it is inappropriate and unfair to rope in ...

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HUF cannot be a partner in partnership firm; Belated return cannot be revised

Ajay Kumar Gupta (HUF) Vs ACIT (ITAT Delhi) - Ajay Kumar Gupta (HUF) Vs ACIT (ITAT Delhi) In our considered opinion, the Assessing Officer has rightly invoked section 154 because the assessee wanted to take benefit of the notification issued by the CBDT. In the present case, as per judicial precedents, the HUF itself cannot become a partner in ...

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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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19 FAQs on filling of ITR forms for Assessment Year 2019-20

Circular No. 18 of 2019 - (08/08/2019) - After notification of the ITR forms various queries have been raised by the stakeholders in respect of filling-up of the ITR forms. In order to address such queries, following clarifications are issued. —...

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CBDT denies Large Scale Changes in ITR Forms wef 11th July 2019

NA - (16/07/2019) - CBDT  said that there are no changes in the notified ITR forms; only the utility has been updated to facilitate the taxpayers. Therefore, the assertion that numerous changes have been made in ITR-2 and ITR-3 on July 11, 2019, does not give a correct picture. Government of India Ministry of Finance ...

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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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Recent Posts in "Income Tax Return"

Extend Due Date for Filing of Income Tax and GST Returns

Karnataka State Chartered Accountants Association submitted a Memorandum to Smt. Nirmala Sitharaman, Hon. Union Minister of Finance and Corporate Affairs seeking EXTENSION OF DUE DATE FOR FILING OF INCOME TAX AND GST RETURNS. Full text of the representation is as follows:- KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R.) Date: 10th ...

Read More
Posted Under: Income Tax |

Extend GST, Income Tax and other due dates falling in Aug & Sep 2019

Goods & Services Tax Practitioners Association of Maharashtra has requested Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance Government of India for Extension of due date for filing GSTR-9 & GSTR-9C for F.Y. 2017-18 & other due dates falling in August and September 2019. Text of the l;etter is as follows:- GOOD...

Read More
Posted Under: Income Tax | ,

19 FAQs on filling of ITR forms for Assessment Year 2019-20

Circular No. 18 of 2019 (08/08/2019)

After notification of the ITR forms various queries have been raised by the stakeholders in respect of filling-up of the ITR forms. In order to address such queries, following clarifications are issued. —...

Read More

Income Tax Returns (ITRs)-Forms, Due Dates and Late Fees

The last date for filing Income Tax Return is July 31st of every year (Extended up to 31st August 2019 for Assessment Year 2019-2020 and with few certain exceptions as provided above), which can be belatedly filed up to March 31. For example, Income Tax Returns for  Assessment Year 2019-20 (Financial Year 2018-2019), can be filed belated...

Read More

Changes in Income Tax Return for AY 2019-20

The CBDT has notified the Income-tax Return (ITR) Forms for the Assessment Year 2019-20 with many changes and revisions. While the last date for filing income tax returns has been extended to August 31 for FY 2018-19, the changes and penal clauses for late filing mean one should start the process as soon as possible. ITR 1 […]...

Read More
Posted Under: Income Tax |

Income tax return through ‘e-filing Lite’- Faster/Lighter

Hello friends, greetings for the day in the current article we will discuss about the newly launched ‘e-filing lite’ for the sole purpose of hassle free return filing as quickly as possible Introduction As we know the last date for return filing of certain section of taxpayers has been extended from 31st July to 31st […...

Read More
Posted Under: Income Tax |

Income tax department Launches lighter version of e-Filing portal

Income tax department is launching ‘e-Filing Lite’, a lighter version of e-Filing portal with a focus on filing of Income Tax Return (ITR) by the taxpayers. The same can be accessed by clicking ‘e-Filing Lite’ button in home page. The current e-Filing portal having all the services can be accessed by clicking on &#...

Read More
Posted Under: Income Tax |

Precautions while preparing Income Tax Return and recent FAQs

Precautions while preparing Income Tax Return (ITR) – Taxpayer has to first fill ‘Part A General’ (Personal Information) correctly. Rest of the utility will function based on information provided in Part A General. For example, the field 80 TTB will be enabled only for Senior citizens based on the Date of birth and Residential s...

Read More
Posted Under: Income Tax |

ITR Filing- I am getting ‘invalid XML’ while trying to upload XML?

I am getting ‘invalid XML’ while trying to upload the xml? ♣ Invalid XML error may arise due to the following scenarios, 1. The taxpayer might have generated the XML file by using the older version of ITR utility. 2. The taxpayer might have altered or edited the XML file generated from the ITR utility […]...

Read More
Posted Under: Income Tax |

How to download and import prefilled XML to ITR utility?

A. How to download and import prefilled XML to Excel ITR utility? Step 1: Go to Income Tax e-Filing Portal www.incometaxindiaefiling.gov.in Step 2: Login to the e-Filing portal by entering the User ID (PAN), Password and Captcha. Step 3: After Login, Go to ‘My Account’ menu and Click on ‘Download Pre-filled XML’...

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Posted Under: Income Tax |

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