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If the return could not have been filed within the above due dates even then the same can be filed validly as a belated return within the time limit prescribed U/s. 139(4) of the Act. Under section 139(4) a belated return can be filed before the expiry of one year from the end of relevant assessment year or before the completion of assessment whichever is earlier.
Clearing up misconceptions about income tax for salaried individuals. Get answers to common doubts and understand the process of filing tax returns.
Avoid common mistakes while filling your Income Tax Return (ITR) form. Ensure accuracy in PAN details, name, date of birth, and address to prevent computation errors.
Registered user can reset the password using one of the following options: 1. Answer Secret Question. 2. Upload Digital Signature Certificate 3. Using OTP (PINs)
Important points to keep in mind before filing income tax return. Learn about selecting the correct form and other key considerations for AY 2020-21.
1. Error Code 1: Tax computed but GTI(Gross Total Income) is nil or 0? Description: No tax can be computed without providing the details of income. The Assessee should maintain consistency in providing details of income and tax computation in the return of income in the new xml which will be filed in response to […]
Discover effective strategies to save income tax for the financial year 2023-24. Explore income tax rates, deductions, and exemptions. Make informed decisions between the old and new tax regimes. Get answers to FAQs on salary income. Maximize your tax savings now!
Learn how to respond to a notice u/s 139(9) for a defective income tax return. Get step-by-step guidance on filing the response and resolving the issues.
Those who are working and fall under a tax slab as per their annual income get TDS deducted by their employers on a monthly basis, whereas small business owners are often seen escaping the tax demon by hiding their actual annual income. Correspondingly, they save thousands on taxes, which is not a very good idea to save the taxes because these people are going to get a tax notice sooner or later. These transgressions can invite penalties and the person has to pay up to 300% of the unpaid amount as the tax.
Do you want to keep an Arm’s Length Distance from the Income Tax Department? Obviously the Answer is YES!!! But the question here is HOW??? Here are a list of expenses/ investments, which at any point of time performed by you may invite undue attention from the Income tax Personnel.
