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...
Following are the changes made by the Government to file ITR for the assessment year 2018-19: In the past ITR i.e. till AY 2017-18 only one taxable figure was to be reported under the head salary, but ITR forms for AY 2018-19 require the assessee to report the break-up of salary earned during the previous […]
The Central Board of Direct Taxes (CBDT) has notified the Income-tax Return (ITR) Forms applicable for the Assessment Year 2018-19. The new forms incorporate the changes made by the Finance Act, 2017 in the Income-tax Act, 1961. It is apparent that the new ITR Forms have shifted the entire onus on the taxpayers to prove their claim for deductions, expenses or exemptions refer table 2
As per the provisions of Income Tax Act, the exemption of income under sections 10 and 11 is governed by certain statutory conditions and procedures. In order to assist you in complying with these conditions and procedures, your attention is drawn to the following with a request to keep them in mind while filing Income tax return in ITR-7.
The new form for Filing of Income Tax Return for the Companies i.e. ITR-6 for the AY 2018-19 has been notified by the CBDT on April 5, 2018 vide notification no. 16/2018 which has brought enormous changes in requirement of disclosures. Implementation of GST, demonetization, application of Ind AS, ICDS, increasing international transactions and OECD […]
Article discusses changes in ITR 1, ITR 2, ITR 3 , ITR 4 Sugam, ITR 5 and ITR 6 as released by CBDT for Financial Year 2017-18 / Assessment Year 2018-19 vide these changes CBDT has ensured more disclosures from Assessee regarding GST, Financial Particulars, Depreciation, ICDS, Late Fees U/s. 234F, Income from Other Sources, […]
Apart for the additional reporting requirement under the Income tax Act the word GST has been mentioned at 35 places in the newly notified ITR-6, which clearly means the GST related reporting has to be mentioned at 35 places. the GST has made the changes at the following places:
Article discusses who can use ITR 1 (SAHAJ), ITR 2, ITR 3 and ITR 4 Sugam Form for Assessment Year 2018-19 or Say Financial Year 2017-18.
ITR 1 for AY 2018-19 is now available for e-Filing. Other ITRs will be available shortly. ITR1 is applicable for For individuals being a resident other than not ordinarily resident having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs. 50 lakh ITR-1 for A.Y. 2018-19 can be […]
Every Person if his total income or the total income of any other person in respect of which he is assessable under the Income Tax Act during the previous year exceeded the maximum amount which is not chargeable to income-tax shall on or before the due date, furnish a return of his income or the income of such other person during the previous year.
Understand the key changes in ITR forms for the AY 2018-19. Learn about the different forms and their applicability.
