Income Tax - Discover the tax benefits available to senior and very senior citizens under the Income Tax Act in India, including lower tax rates and exemptions....
Income Tax - Meaning of ITR A document known as an income tax return (ITR) is used to provide the Income Tax Department with data regarding your earnings and taxes. Law requires all individuals and businesses with any revenue during a fiscal year to submit an income tax return each year. A salary, business earnings, real estate income, […]...
Income Tax - Understand the different types of Income Tax Return (ITR) forms and their applicability based on income sources. Learn about the limits and heads of income associated with each form. Gain insights into filing requirements and make informed decisions for tax compliance....
Income Tax - Unravel the complexities of choosing the right ITR form for Individuals, Hindu Undivided Families (HUFs) and Firms based on factors like income sources, residential status, and total income....
Income Tax - Introduction Filing income tax returns (ITR) is an essential responsibility for salaried individuals in India. The ITR-1 form is specifically designed for individuals with income from salary, pension, or interest. This article aims to provide a step-by-step guide to help salaried individuals file their ITR-1 accurately and efficiently. He...
Income Tax - Central Board of Direct Taxes, e-Filing Project ITR 1 – Validation Rules for AY 2023-24 Version 1.0 – 23rd May 2023 Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor, Jhandewalan Extension New Delhi – 110055 Purpose The Income Tax Department has provided free return preparation software in downloads page whic...
Income Tax - The Income Tax Department has enabled the Income-tax Returns Form ITR 1 and ITR 4 at the income tax e-filing portal in Online mode with prefilled data. The availability of prefilled data in Income-tax Returns Form ITR 1 and ITR 4 at the income tax e-filing portal for AY 2023-24 is a significant development by […]...
Income Tax - CBDT notified Income-tax Return Forms (ITR Forms) for Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2023 and 14.02.2023....
Income Tax - Income Tax Department Government of India Central Board of Direct Taxes, e‑ Filing Project ITR 1 – Validation Rules for AY 2022-23 Version 1.0 19th April 2022 Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor, Jhandewalan Extension New Delhi – 110055 Purpose The Income Tax Department has provided free return prepa...
Income Tax - ITR-1 For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand. Link to Download Schema for ITR-1 for A.Y. 2022-23/FY 21-22 ITR-2 For Individuals and HUFs not having i...
CIT, Delhi Vs. M/s. Kelvinator of India Limited (Supreme Court of India) - In CIT Vs Kelvinator of India Ltd. 256 ITR 1 the Full Bench of the Delhi High Court was considering a case of reopening u/s 147 within 4 years from the end of the assessment year. The Court held that when a regular order of assessment is passed in terms of section 143 (3) of the Act, a presumption c...
Notification No. 11/2023-Income-Tax, [G.S.R. 164(E).] - (03/03/2023) - CBDT notifies ITR forms for AY 2023-24/ FY 2022-23 Except ITR-7 vide Notification No. 04/2023-Income Tax Dated: 10.02.2023 and notified ITR-7 vide Notification No. 05/2023-Income Tax Dated: 14/02/2023. CBDT amended notified ITR first vide Notification No. 8/2023-Income Tax dated 28/02/2023 and now i...
Notification No. 8/2023-Income Tax [G.S.R. 156(E).] - (28/02/2023) - Vide Notification No. 8/2023-Income Tax| Dated: 28th February, 2023 CBDT notifies amendment in ITR forms for AY 2023-24 / FY 2022-23. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Corrigendum Notification No. 8/2023-Income Tax| Dated: 28th February, 2023 G.S.R. 156(E)....
Notification No. 04/2023-Income Tax [G.S.R 91(E)] - (10/02/2023) - CBDT notifies Format & Particulars of Income Tax Return Forms ( ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4 SUGAM, ITR-5, ITR-6, ITR-V) and Income Tax Return Acknowledgement (ITR-V) for Assessment Year 2023-24/Financial Year 2022-23 vide Notification No. 04/2023 Dated 10th February 2023. Last Year CBDT n...
Notification No. 21/2022-Income Tax [G.S.R 231(E)] - (30/03/2022) - CBDT notifies ITR Forms SAHAJ ITR-1, ITR-2, ITR-3, SUGAM ITR4, ITR-5, ITR-6, ITR-V and ITR- Ack for Assessment Year 2022-23/Financial Year 2021-22 vide Notification No. 21/2022 Dated 30th March, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification ...
Notification No. 21/2021-Income Tax/G.S.R. 242(E) - (31/03/2021) - CBDT notifies all ITR Forms 1 to 7 for AY 2021-22 vide Notification no. 21/2021 in G.S.R 242(E) dated 31/03/2021. To facilitate taxpayers & to minimize the compliance burden, no significant changes have been made in the ITR Forms this year as compared to last year’s Forms. The Central Board of...
Notification No. 11/2023-Income-Tax, [G.S.R. 164(E).] - 03/03/2023
Notification No. 8/2023-Income Tax [G.S.R. 156(E).] - 28/02/2023