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...
As per the newly inserted Section 139AA of the Finance Act 2017, if a person covered under this section want to file a return of income on or after July 1, 2017, it will be mandatory for him to quote the Aadhaar number in the return.
For enhancing the number of Income Tax Payers, the following measures have to be taken up at once: (1) Introducing a very simplified & hassle-free ITR Form for the First Time Filers of Return of Income & ensure harassment-free assessment, in the following manner:
Section 139AA of the Income-tax Act, 1961 as introduced by the Finance Act, 2017 provides for mandatory quoting of Aadhaar / Enrolment ID of Aadhaar application form, for filing of return of income and for making an application for allotment of Permanent Account Number with effect from 1st July, 2017.
Get a complete understanding of Rule 12 of Income Tax Rules wef 1st April 2017 related to ITR. Stay up to date with the recent amendments and changes.
Understand how to fill out ITR-1 Sahaj for AY 2017-18. Find helpful guidelines for individuals with income from salary, pension, or one house property.
A comprehensive guide to filling ITR-4 SUGAM for A.Y. 2017-18. Follow these instructions to ensure accuracy and compliance with tax laws.
The government has taken bold step towards simplifying the norms of filing, so as to encourage the potential tax payer to file the Income Tax Return. Earlier, there were total nine Income Tax Return Forms which has now been reduced to seven.
Income Tax department has introduced the new forms for filing the income tax Returns in the financial year 2016-17. The question is, what changes have they made in these forms?
The continued emphasis on e-filing of ITRs & TDS Returns has given successful response to the electronic era in Income Tax system. As per Section 139D of the Income Tax Act, 1961, CBDT may make rules providing for:
Simplified One Page ITR 1 has been notified. For Individuals, Aadhar Card Number/ Enrolment ID is compulsory where Person is eligible for Aadhar Card. Specific Column for Showing Cash Deposits during 09.11.16 to 30.12.16. ITR 1 can only be used where total income does not exceed Rs. 50 lakhs
