ITR

Consequences of Non-Filing of the Income Tax Return

Income Tax - Penalty u/s 271F: If a person fails to furnish return before the end of the relevant assessment year, the assessing officer may levy a penalty of Rs. 5,000/-. Thus, Non-filing of Income Tax Return may result in the penalty of Rs. 5,000/-....

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Last Date of ITR for A.Y. 2017-18 after Amendment

Income Tax - Due Date of Income Tax Return As per Section 139(1) of the act, Due Date of filling of Income Tax Return is 30th July of every Assessment year for Individual / HUF but for the company or other than company assessee who is required to furnish audit report u/s 44AB under income tax act or […]...

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Filing ITR for the first time? – Here’s what you need to know

Income Tax - Once you start earning money, don’t forget some portion of your online income belongs to the government....

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Income Tax Return Filing: Time limit and consequences of delay

Income Tax - Persons required to file the return of income ♣ In the case of companies: It is compulsory for a company to file income tax return irrespective of its income or loss. ♣ In the case of partnership firms: A partnership firm (including LLP), has to file its return of income compulsorily, irrespective of its income […]...

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Income Tax Return Filing by Individuals for A.Y 2018-19

Income Tax - Return of income is the format in which the assessee furnishes information related to his total income and tax payable. It is a declaration of income by the assessee in the prescribed format. Individuals who are mandatorily required to file the Income Tax Return: As per Section 139(1) “If the total income or the total […]...

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Match Incomes/ Receipts & deduction claimed with Form 16/16A

Income Tax - Taxpayer Submitting Income Tax Return for Assessment year 2017-18 to ensure Incomes/Receipts and deduction claimed matches with Form 16/16A issued by deductor ...

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Highlights of SC Judgement on Aadhar PAN Linkage

Income Tax - Supreme Court of India in its Landmark Judgement has upheld Section 139AA of the Income Tax Act,1961 as constitutionally valid which required quoting of the Aadhaar number in applying for PAN as well as for filing of income tax returns....

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Download E-filing Utility for ITR 1, 2, 3, 4, 5, 6, 7 for A.Y. 2017-18

Income Tax - Income Tax Department has released Income Tax Return Utility for Assessment Year 2017-18 / Financial Year 2016-17 for ITR 1, ITR 2, ITR 3 and ITR 4 (SUGAM), ITR 5, IT 6. ITR 7 in both Java and Excel Format....

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Petition filed in SC on Mandatory Quoting of Aadhaar for filing ITR

Income Tax - Text of Petition filed in Supreme Court on Mandatory Quoting of Aadhaar for filing ITR is as follows. Matter is expected to come up for hearing on Monday 17th April 2017....

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Requirement to quote Aadhaar in ITR not applicable to Non Resident

Income Tax - Section 139AA of the Income-tax Act, 1961 as introduced by the Finance Act, 2017 provides for mandatory quoting of Aadhaar / Enrolment ID of Aadhaar application form, for filing of return of income and for making an application for allotment of Permanent Account Number with effect from 1st July, 2017. ...

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Kerala HC allows IT Returns filing without Quoting of Aadhaar

Prasanth Sugathan Vs. Union Of India (High Court Of Kerala At Ernakulam) - Writ Petition (civil) praying inter alia that in the circumstances stated in the affidavit filed along with the WP(C) the High Court be pleased to issue an interim order, directing the respondents to allow the petitioner to file IT returns through e-filing or through Manual Filing without insisting ...

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Investigate leakages of Confidential Data / ITR filed by Tax Payers: CIC

Mr. Badal Satapathy Vs. The CPIO (Central Information Commission) - It is essential to protect the Confidential Financial Data filed by millions of Tax Payers from falling into wrong hands in the larger public interest. ...

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Bombay HC criticises CBDT move of extending of ITR due date for only two states & one Union territory

The chambers of Tax Consultant & Others Vs UOI (Bombay High Court) - It was argued that the above decisions were accepted by CBDT and the due date was extended in the respective territories of the High Court’s jurisdiction. Hon’ble HC after considering the above two judgments held that held that it is very unfair that benefit regarding an all India statute is res...

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Analysis of Gujarat HC judgement directing CBDT to extend ITR due date to 31.10.2015

All Gujarat Federation of Tax Consultants Vs CBDT (Gujarat High Court) - By this petition under article 226 of Constitution of India petitioners sought relief by way of writ and prayed before court that due date of filing ITR should be extended upto 30.11.2015. Following relief were sought in this instant writ petition...

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Analysis of P&H HC judgment directing CBDT to extend ITR due date to 31.10.2015

Vishal Garg Vs UOI (Punjab & Haryana High Court) - Vishal Garg Vs. UOI In the instant petition petitioners sought relief by way of writ under article 227 of the constitution of India and prayed before court that due date of filing ITR should be extended upto 31.10.2015....

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Process ITR of all Non-scrutiny cases for AY 2016-17 by 31.03.2018: DIT

F.No: DGIT(S)-3/AST/Processing of CASS Cases/101/2016-17/2 - (07/02/2018) - It is requested that Assessing Officers may be directed to complete all Non-scrutiny cases for processing urgently. Assessing Officers may be directed to refer ITBA ITR- Processing Instruction 1 date 30.03.2017, ITBA ITR- Processing Instructions 2 & 3 date 08.11.2017 to thoroughly understand the pro...

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Processing of ITR-1 to 6 & applicability of section 143(1)(a)(vi)

Circular No. 01/2018-Income Tax - (10/01/2018) - Since section 143(1)(a)(vi) of the Act is being applied for the first time while processing the returns, it has been decided that before issuing an intimation of the proposed adjustment, initially an awareness campaign would be carried out to draw the attention of the taxpayer to such differences....

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Due date to file ITR & Income Tax Audit Reports extended to 31.10.2017

No. 225/270/2017/ITA.II - (31/08/2017) - CBDT hereby extends the 'due-date' prescribed therein for filing the return of income as well as various reports of audit prescribed under the Income-tax Act which are required to be filed by the said 'due date' from 30th September, 2017 to 31st October, 2017....

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Launch of Income Tax Business Application ITR Processing Module

ITBA-ITR Processing Instruction No. 1 - (30/03/2017) - Functionality for processing Paper ITRs filed for AY 2016-17 in Forms ITR-1, 2, 2A and 4S will be available w.e.f. 04.2017 in Income Tax Business Application (ITBA)....

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Download Sahaj (ITR 1), 2, 3, Sugam (ITR-4), 5, 6, 7 for A.Y. 2017-18

Notification No 21/2017-Income Tax - (30/03/2017) - CBDT has vide notification No. 21/2017 released ITR for Assessment Year 2017-18 / Financial Year 2016-17 and Same can downloaded from the link given at the end of the post. the number of ITR Forms have been reduced from the existing nine to seven forms. The existing ITR Forms ITR-2, ITR-2A and ITR-...

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Recent Posts in "ITR"

Consequences of Non-Filing of the Income Tax Return

Penalty u/s 271F: If a person fails to furnish return before the end of the relevant assessment year, the assessing officer may levy a penalty of Rs. 5,000/-. Thus, Non-filing of Income Tax Return may result in the penalty of Rs. 5,000/-....

Read More
Posted Under: Income Tax |

Last Date of ITR for A.Y. 2017-18 after Amendment

Due Date of Income Tax Return As per Section 139(1) of the act, Due Date of filling of Income Tax Return is 30th July of every Assessment year for Individual / HUF but for the company or other than company assessee who is required to furnish audit report u/s 44AB under income tax act or […]...

Read More
Posted Under: Income Tax |

Filing ITR for the first time? – Here’s what you need to know

Once you start earning money, don’t forget some portion of your online income belongs to the government....

Read More
Posted Under: Income Tax |

Process ITR of all Non-scrutiny cases for AY 2016-17 by 31.03.2018: DIT

F.No: DGIT(S)-3/AST/Processing of CASS Cases/101/2016-17/2 (07/02/2018)

It is requested that Assessing Officers may be directed to complete all Non-scrutiny cases for processing urgently. Assessing Officers may be directed to refer ITBA ITR- Processing Instruction 1 date 30.03.2017, ITBA ITR- Processing Instructions 2 & 3 date 08.11.2017 to thoroughly understand the process....

Read More

Processing of ITR-1 to 6 & applicability of section 143(1)(a)(vi)

Circular No. 01/2018-Income Tax (10/01/2018)

Since section 143(1)(a)(vi) of the Act is being applied for the first time while processing the returns, it has been decided that before issuing an intimation of the proposed adjustment, initially an awareness campaign would be carried out to draw the attention of the taxpayer to such differences....

Read More

Income Tax Return Filing: Time limit and consequences of delay

Persons required to file the return of income ♣ In the case of companies: It is compulsory for a company to file income tax return irrespective of its income or loss. ♣ In the case of partnership firms: A partnership firm (including LLP), has to file its return of income compulsorily, irrespective of its income […]...

Read More
Posted Under: Income Tax |

Income Tax Return Filing by Individuals for A.Y 2018-19

Return of income is the format in which the assessee furnishes information related to his total income and tax payable. It is a declaration of income by the assessee in the prescribed format. Individuals who are mandatorily required to file the Income Tax Return: As per Section 139(1) “If the total income or the total […]...

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Posted Under: Income Tax |

How to Change Details in e-Filed Income Tax Returns

After upload of the ITR, if any change occurs in taxpayers Bank Account, Address, Mobile number and e-mail id, then taxpayer can update these changes through ‘Change ITR Form Particulars’. Any update can be made only prior to processing of the return. Perform the following steps to change the particulars in the submitted ITR F...

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Posted Under: Income Tax |

How to Request for Condonation of delay in filing ITR-V

You can provide the reason for delay in submission of ITR-V or e-Verification.In addition, you will be given an option to e-verify the return after 120 days by giving reasons for delay. Perform the following steps to request for intimation: Step 1 Logon to ‘e-Filing’ Portal www.incometaxindiaefiling.gov.in Step 2 Go to the ...

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Posted Under: Income Tax |

Provisions relating to return of income under Income Tax Act, 1961

It is mandatory for every taxpayer to communicate the details of his income to the Income-tax Department. These details are to be furnished in the prescribed form known as return of income. In this part, you can gain knowledge about the various provisions relating to return of income....

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Posted Under: Income Tax |
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