Goods and Services Tax : The case examined if income details could be disclosed under RTI during a matrimonial dispute. The Court ruled that such disclosur...
Income Tax : ITR-4 Sugam: End of Blind Presumptive Compliance?” The Central Board of Direct Taxes (CBDT) has introduced a significant complia...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : The new law reorganizes provisions and introduces clearer section mapping for business income. It simplifies compliance while reta...
Income Tax : Free products, sponsored trips, and non-cash perks are now taxable under Section 194R if their value exceeds ₹20,000 annually. B...
CA, CS, CMA : The Court found CBDT failed to follow its 2015 directive on timely ITR utility release. It ordered an affidavit with corrective st...
CA, CS, CMA : KSCAA urged CBDT to extend due dates for assessees under Section 92E, citing an omission in Circular No. 15/2025 that created inco...
Income Tax : Gujarat HC has directed CBDT to ensure that there is a mandatory one-month gap between date for furnishing tax audit reports (unde...
Income Tax : The Gujarat High Court is hearing a petition from the Chartered Accountants Association regarding persistent glitches on the new I...
Income Tax : The Pune Chartered Accountants' Society has requested an extension for tax audit and ITR filing deadlines for FY 2024-25, citing t...
Income Tax : The case addresses the continued failure to release ITR utilities on time despite earlier court directions. The Court adjourned th...
Corporate Law : The court interpreted the scope of Section 91 CrPC in summoning documents. It ruled that parties cannot demand documents as a matt...
Income Tax : The case focuses on systemic delays and technical shortcomings in the e-filing system. The Court directed the Department to file a...
Service Tax : The case addresses whether discrepancies between ITR/Form 26AS and ST-3 returns can justify a Service Tax demand. The Tribunal hel...
Income Tax : The Tribunal held that the assessee had furnished PAN, bank statements, confirmations, and financial details establishing the iden...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Income Tax : The corrigendum fixes an incorrect aggregation formula in Schedule CG and wrong cross-references in Schedule UD. It ensures accura...
Income Tax : The corrigendum addresses formatting and reference errors in Schedule CG and Schedule OS. It clarifies reporting fields without al...
BCAS has highlighted issues of Delay in making available the utility to enable filing, Multiple changes in utilities, The requirement of reporting Permanent Account number of unlisted companies, Unlawful requirement of reporting ISIN codes/Folio No of shares sold and 26AS not updated and TDS certificates not available with the tax payers.
CBDT said that there are no changes in the notified ITR forms; only the utility has been updated to facilitate the taxpayers. Therefore, the assertion that numerous changes have been made in ITR-2 and ITR-3 on July 11, 2019, does not give a correct picture. Government of India Ministry of Finance Department of Revenue Central […]
Instructions to Form ITR-7 (A.Y .2019-20) Instructions for filling out Form ITR-7 These instructions are guidelines for filling the particulars in Income-tax Return Form-7 for the Assessment Year 2019-20 relating to the Financial Year 2018-19. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. […]
Currently, certain category of person e.g. Individual, HUF are required to file a tax return only if his total income exceeds maximum amount not chargeable to tax. With the objective of ensuring governance in Budget 2019 Proviso to Section 139 (1) has been inserted and the scope of tax-return filing requirement has been widened by […]
Extension of last date for filing IT returns Government has recently changed Form 16 and Form 24 Q to bring more disclosures. In order to enable pre-filling of return of income of salaried taxpayers, the Government has amended Form No. 16 (certificate for tax deduction) and Form No. 24Q (quarterly statement of tax deducted) vide […]
Excel / Java Utility for ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 & ITR 7 for AY 2019-20 / FY 2018-19 are available for e-Filing. Update on 08/07/2019 All Income Tax Return Preparation Software for AY 2019-20 are now available for e-Filing. Update on 04.06.2019 ITR 7 For persons including […]
ITR-1 – General guidelines for filing ITR-1 for AY 2019-20 For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income up to Rs.5 thousand(Not for an Individual who is either Director in a company or […]
The Central Board of Direct Taxes (CBDT) has introduced some changes— particularly more detail seeking disclosures in the new income tax return (ITR) forms for the assessment year 2019-20 to curb tax evasion and wipe out the loopholes. Considering the revamps and penal clauses for late filing, one should start the process of filing ASAP […]
Navigating the challenges of filing an ITR successfully. Learn about the different ITR forms and how to choose the right one for your income source.
Stay up to date with the key changes in ITR form for A.Y 2019-20. Find out how the new tax return forms impact individuals, corporates, and other taxpayers.
