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...
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 : Discover essential updates on the e-filing portal for ITR 2024-25, including changes in forms, bank validation, refund status, sta...
Income Tax : Learn who can file ITR-7, how to file it, required information, and mandatory schedules. Detailed guide for assessees under variou...
Income Tax : Discover how the Income Tax Department's initiative to open filing on day one of the financial year streamlines processes, boosts ...
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 : Mumbai ITAT's ruling in Vijay Suresh Dave Vs DCIT regarding addition of unexplained cash credit u/s 68. Detailed analysis of the c...
Income Tax : Jharkhand High Court imposes penalty on JBVNL for unjust retention of Rs 2.9 crore, orders refund of TDS. Detailed analysis of Anv...
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...
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 status […]
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 […]
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’. Step 4: In the ‘Download Pre-filled […]
How to Download and extract Excel utility of ITR Step 1: Go to Income Tax e-Filing Portal www.incometaxindiaefiling.gov.in Step 2: Click on ‘Income Tax Return Preparation Software’ link under the ‘Downloads’ section. Step 3: Click on the appropriate ITR’s Excel utility hyperlink. The ITR excel utility zip file will be downloaded successfully. Step 4: Open […]
The income tax return (ITR) forms for FY 2018-19 notified by the government are different from those used to file the previous year’s returns, keeping the changes in income tax laws made in Budget 2018 for FY 2018-19 and onwards. Apart from that, there are other changes as well in the ITR forms which you […]
Major Benefits of Income Tax Returns: 1. Easy Loans Approvals: Majority of Banks ask for a copy of Income tax returns for at least 3 consecutive years, so if you are planning for a loan in future then it can help you for easy loan approvals like Home Loan, Personal Loan etc.
Its that time of the year when usually, people are finding various ways and means (people knowing to file return) to get their Tax returns filed by either Chartered Accountants or someone who has some knowledge of it and regularly files their return of income over a period of years. However, thanks to the Central […]
Extension of due date of filling Income Tax Return for FY 2018-19 (AY 2019-20) Introduction Due date for filling Income Tax Return for the financial Year 2018-19 (Assessment Year 2019-20) is extended from 31st July 2019 to 31st August 19 by CBDT vide its order under section 119 dated 23rd July 2019. In case Individual taxpayer had […]
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
Majority of the salaried taxpayers do file their ITR by themselves and thus are bound to commit some mistakes due to ignorance of law. In this article I will discuss some of the errors of omission committed by such taxpayers about some of the items of income, which are taxable, but are generally omitted to […]
