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...
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.