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 : Step-by-step guide to filing ITR-2 online for FY 2023-24, covering salary income, capital gains, and other sources of income. Ensu...
Income Tax : Understand the implications of receiving a notice under Section 143(2) of the Income Tax Act. Learn how to respond, time limits, a...
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 : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Discover essential updates on the e-filing portal for ITR 2024-25, including changes in forms, bank validation, refund status, sta...
Income Tax : Learn who can file ITR-7, how to file it, required information, and mandatory schedules. Detailed guide for assessees under variou...
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 : Chennai ITAT ruled that incorrect classification in ITR cannot deny genuine deductions. Learn about the National Contracting Compa...
Income Tax : Explore the ITAT Mumbai's decision on payments to retiring partners by Deloitte Haskins and Sells LLP. Understand why it's not con...
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...
This article is bifurcated into four parts and is updated for the ITR of AY 2020-21. Part A: Person liable to file return as per section 139 Part B: Due date to file return Part C: Brief of Rule 12 and which return to be filed Part D: Changes in ITR forms Part A: Person […]
This article shall provide an insight into changes in Income tax forms, additional disclosures required by income tax department and main considerations while filing Income tax returns. It is advisable for us to begin the groundwork and avoid the late hour rushes because new ITR forms require additional details and disclosures.
Discover the 12 key highlights of changes in ITR forms for FY 2019-20. Stay updated with the new additional columns and schedules for accurate filings.
All Assessees are now required to file their Returns online except Super Senior Citizens are given option to submit Return in paper mode provided the Computation does not have any income chargeable under head of Profits and Gains from Business or Profession. Changes in the ITR Requirements The New ITR Forms have been notified vide […]
Changes in the notified ITR-7 for AY 2020-21 1. Corpus donation not to be considered as an application of Income –Schedule ER-Part B : ITR-AY 2019-20 had the details of Donation made towards the Corpus fund of Donee Society/Trust. However, in ITR-AY 2020-21, only Donation-Other than Corpus in Part B of Schedule ER 2. Disallowable […]
Learn all about ITR filing for AY 2020-21. Find out which forms are currently available and the eligibility criteria for ITR-1 (Sahaj).
Eligibility to file ITR 4 for A.Y. 2020-21: Individuals, HUFs and Firms (other than LLP) being a resident having: 1. Total Income upto Rs 50 Lakhs 2. PGBP income computed under sections 44AD, 44ADA or 44AE 3. Income from Salary / Pension 4. Income from ONE House Property 5. Income from Other Sources 6. Agricultural […]
Find out if you need to file an Income Tax Return for F.Y. 2019-20. Learn about the scenarios where individuals are required to file their ROI.
ITR-1 & ITR 4 forms for A.Y. 2020-21 released for e-filing by Income Tax Department. Who are eligible to file ITR-4? -An Individual, HUF or Firm (other than LLP) who is ordinarily resident in India -Income from salary/pension (for ordinarily resident person). -Income from one house property but excluding brought forward losses and losses to […]
Key Changes in Filing of ITR forms Considering the COVID-19 pandemic, various relaxations have been provided under the statutory compliances and one of them is with respect to Filing of Income Tax Returns (ITR). During the current year, while filing the ITR one has to keep in mind various relaxations provided by the government as […]
