Income Tax : Missed the ITR filing deadline? Learn the penalties, interest charges, and restrictions. Understand the consequences and how to fi...
Income Tax : Discover why taxpayers are urging for an extension of July 31 ITR filing deadline in 2024. Learn about ITR forms, filing steps, co...
Income Tax : Discover who must file an ITR even with income below the exemption limit. Understand key scenarios and benefits to stay compliant ...
Income Tax : Discover hassle-free tips for filing your Income Tax Return (ITR) before the July 31, 2024 deadline. Learn about necessary documen...
Income Tax : Discover the benefits of filing Income Tax Returns (ITR), including compliance with tax laws, improving credit score, visa applica...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Corporate Law : A record 7.28 crore ITRs filed for AY 2024-25, with 5.27 crore in the New Tax Regime. Over 69.92 lakh ITRs were filed on 31st July...
Income Tax : New amendments to the Black Money Act from October 2024 raise the exemption threshold for penalties on foreign assets to ₹20 lak...
Income Tax : ICAI addresses issues with Form 26AS/TIS/AIS and ITR filing glitches, urging CBDT for timely resolution to aid taxpayers in meetin...
Income Tax : Discover comprehensive FAQs on filing ITR-4 (Sugam) for AY 2024-25. Learn eligibility criteria, tax regime options, documents need...
Income Tax : Supreme Court held that Section 206C of the Income Tax Act is not applicable in respect of Mysore Sales and that the liquor vendor...
Income Tax : ITAT Kolkata held that loss on sale of shares on recognized stock exchange with STT paid, is eligible to be set off against the lo...
Income Tax : Delhi High Court dismisses Income Tax Department's appeal in PCIT Vs Satya Prakash Gupta case, finding no evidence of commission r...
Income Tax : Explore the Delhi High Court's judgment on ITSC's conclusive nature for AY, assessing reassessment under Section 148 of the Income...
Corporate Law : The Punjab & Haryana High Court orders a father to pay maintenance for his minor son despite his claim of unemployment, considerin...
Income Tax : Discover how TDS charge officers verify high-risk refund cases using Insight Instruction No. 76. Learn about the SOP, steps, and f...
Income Tax : Understand the time limit for income tax return verification after uploading. Learn the implications of late verification and the ...
Income Tax : Explore amendments in ITR form V & Acknowledgement for A.Y 2024-25 as per Income Tax Act, 1961 & Rules, 1962. Understand filing pr...
Income Tax : Learn how to initiate proceedings under section 147 of the IT Act in e-Verification cases. Detailed instructions for Assessing Off...
Income Tax : CBDT notifies ITR-7 [For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 13...
We humbly make a revenue friendly as well as taxpayers friendly suggestion for extending dates for furnishing belated/ Revised Returns for AY 2020-21.
Get a comprehensive understanding of Sections 206AB & 206CCA of the Income Tax Act, 1961. Learn about the higher rates of TDS/TCS for non-filers of ITR.
How to View Filed Forms on New Income Tax Portal – Faqs 1. Can I download my filed form? Yes. You can download the PDF version of the filed form from the e-Filing portal undere-File > Income Tax Forms > View Filed Forms. 2. Who can view filed forms? Anyone who is registered on the […]
Income Tax E-Proceedings FAQs Q.1 What is e-Proceedings? Ans. e-Proceedings is an electronic platform for conducting proceedings in an end to end manner using the e-Filing portal. Using this service, any registered user (or his Authorized Representative) can view and submit response to any notice / intimation / letter issued by the Income Tax Department. […]
How to Respond to Outstanding Income Tax Demand- Faqs 1. Why do I need to submit response to an outstanding demand? The Income Tax Department may find some Outstanding Tax demand against your PAN. In order to confirm if the stated demand is correct, an opportunity is given to you to respond. If you do […]
A Critical Analysis Of Tds On Freight Payments Under Section 194 (6) Of The Income Tax Act, 1961 MEANING AND IMPORTANCE OF TDS IN GENERAL Tax Deducted at Source (TDS) is a system introduced by Income Tax Department, where the person responsible for making specified payments such as salary, commission, professional fees, interest, rent, contract […]
Upload Income Tax Forms – FAQs Q.1 How can I access the category of Income Tax Form applicable to me for filing? Ans. Under the Income Tax Form Options in the e-File menu, you will be presented with a category list of all available Income Tax Forms with short descriptions. Choose the form(s) that are […]
FAQs on How to use offline utilities to file Income Tax returns (ITR) Q.1 Who can use the ITD’s offline utilities to file returns? Ans. All persons eligible to file ITR can download the offline utilities for ITRs and use them to file returns. Q.2 What is new about the ITD’s offline utility in AY […]
ITR status shows the current status/stage of your filed ITR. Once your ITR has been filed, you may check if it has been accepted and processed by the Income Tax Department. In certain cases where some discrepancies are found, you may need to respond to the communication from the ITD. Hence, it is advisable to periodically check your ITR status.
FAQs on How to e-Verify Income Tax Return (ITR) Q.1 Why do I need to e-Verify? You need to verify your Income Tax Returns to complete the return filing process. Without verification within the stipulated time, an ITR is treated as invalid. e-Verification is the most convenient and instant way to verify your ITR. You […]
