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...
Further Update on 07.08.2015 CBDT has released finally e-filing utility for ITR -6 on 06.08.2015 after 127 from the start of new financial year and gives Assessee a time of 55 days for complete his e-filing instead of 183 days due to delayed release of e-forms.
If your income is more than Rs 5 lakh per annum then you must file your ITR electronically or online. Like all other things, internet has drastically changed the way you file your ITR. According to IT department, the number of people filing e-returns has seen a massive growth over the years, which testifies the […]
Krishna, Income Tax department has notified all remaining ITR’s for FY 2014-15. As audience wait for next release of movies, now taxpayers have to wait for next version of returns. Like movie sequels now Income tax returns also have their sequels. So please explain what are the changes made in these ITR.
Taxpayers have appreciated the new initiative of Electronic Verification of the Income Tax Return through Aadhaar linkage and Net-banking and the testimonials affirm the user-friendliness and removal of the hassle of sending the paper copy of the ITR-V form to Bengaluru. Taxpayers have also reported that the process of e-verification shortens the time taken for […]
Notification No. 61/2015 – Income Tax In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
The Government has simplified Income Tax Returns (ITR) Forms for individuals and HUFs not having business or professional income. In ITR Form No. 2 and 2A, the main form does not contain more than three pages and other information relevant for computation of income will be captured in the schedules which are required to be […]
As per rule 12 of the Income-tax Rules, in case of individuals and certain other specified taxpayer, returns may be filed electronically followed by submission of signed paper copy of ITR-Verification form (ITR-V). However, to provide end-to-end enabled services to the tax payers, a facility has been introduced for electronic verification of the Income-tax Returns […]
The Central Board of Direct Taxes has vide Notification No. 41/2015 dated 15.04.2015 in cases of categories of ‘persons’ specified therein, has introduced Electronic Verification Code (‘EVC’) as one of the modes for validation of return of income which are filed electronically on or after 01.04.2015.
1. Due Date of Filing of Income Tax Return is proposed to be extended to 31 August ‘2015 in respect of Assessment Year 2015-2016. 2.The maximum amount of deduction available under Chapter VI A has been extended from Rs.1,00,000 to Rs.1,50,000 (Investments,LIP,PF, PPF, NSC,New Pension Scheme etc.)
Commencement of Electronic Verification of Income Tax Returns for AY 2015-16 To facilitate the taxpayers and to provide end-to-end e-enabled services, the Income Tax Return for A.Y. 2015-16 can now be verified electronically. A taxpayer may verify his return through Internet Banking or through Aadhar based authentication process. Persons using this facility will not be […]
