Income Tax : Discover who must file an ITR even with income below the exemption limit. Understand key scenarios and benefits to stay compliant ...
Income Tax : Discover hassle-free tips for filing your Income Tax Return (ITR) before the July 31, 2024 deadline. Learn about necessary documen...
Income Tax : Discover the benefits of filing Income Tax Returns (ITR), including compliance with tax laws, improving credit score, visa applica...
Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...
Income Tax : Stay updated with key changes and precautions in filing your Income Tax Return for FY 2023-24 to avoid penalties and ensure accura...
Corporate Law : A record 7.28 crore ITRs filed for AY 2024-25, with 5.27 crore in the New Tax Regime. Over 69.92 lakh ITRs were filed on 31st July...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
Income Tax : Learn about the rise in tax returns filed in India, targeted campaigns encouraging filings, and steps taken by the government for ...
Income Tax : Discover comprehensive FAQs on filing ITR-4 (Sugam) for AY 2024-25. Learn eligibility criteria, tax regime options, documents need...
Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Rajasthan High Court dismisses IT Department's appeal, upholding Jaipur Development Authority's exemption under Section 11 of the ...
Income Tax : ITAT Bangalore rules that issuing a notice under Section 143(2) of the Income Tax Act is mandatory for valid assessment after reop...
Income Tax : Detailed analysis of ITAT's decision to delete the Section 69C addition for capital introduced by a partner in the Shivam Develope...
Income Tax : Assessee can't be obstructed from availing of the benefits of the Direct Tax Vivad se Vishwas Act, 2020 (DTVSV Act) even where the...
Income Tax : Navigate complexities of personal income tax in India for FY 2023-2024. Learn about filing returns, responding to notices, and opt...
Income Tax : CBDT notifies ITR-7 [For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 13...
Income Tax : Stay updated on Income Tax rules with CBTD Notification No. 19/2024. Explore amendments effective from April 1, 2024, impacting ru...
Income Tax : CBDT notifies ITR-6 form for AY 2024-25. Companies who don't have income from property held for charitable or religious purposes c...
Income Tax : CBDT notifies ITR 1 and ITR 4 for Assessment Year (AY) 2024-25 / Financial Year (FY) 2023-24 vide Notification No. 105/2023-Incom...
Income Tax : Explore the key amendments in Income Tax Rules, 1962, effective from April 2023. Detailed analysis of ITR-7 Forms modifications an...
Life is full of uncertainties. The only aspect of life that we can be truly certain about is death. When a person dies, then many things need to be considered by family members like filing of insurance claims, getting legal heir certificate, transfer of properties in the name of legal heir , filing of nomination claims […]
Discover the importance of filing Income Tax Return (ITR) even if your income is below the exemption limit. Learn why it’s crucial to report your total income and claim deductions.
Avoid the burden of huge tax on belated filing of return of income. Learn about the consequences and possible solutions.
Understand the basics of Income Tax Return (ITR) and penalty provisions. Learn about the income tax slab and rates for FY 2020-21.
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 Reports […]
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] […]
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’ menu and click ‘Response to Outstanding Demand’ […]
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 steps to view or […]
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.
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.
