Goods and Services Tax : Navigate through the GST filing process for e-commerce in India with our guide. Learn about GST registration, GSTR-1 and GSTR-3B f...
Income Tax : DTPA Representation Committee has made a representation to Mrs. Nirmala Sitharaman, Hon’ble Finance Minister on Representation...
Income Tax : Section 194P Conditional Relaxation for senior citizens who are of the age of 75 year or above from filing return of income-tax un...
Income Tax : Where a person required to furnish a return of income under Section 139, fails to do so within the time prescribed in sub-section ...
Income Tax : The due date for filing income tax return for corporate assessees and other assessees who are required to get their accounts aud...
Income Tax : KSCAA have worked closely with multiple stakeholders to understand the issues at hand with respect to New Income Tax E-Filing Port...
Income Tax : Certain misinformation is being circulated in Social Media pertaining to individual return filers. CBDT clarifies: During the curr...
Income Tax : Income Tax Department is moving towards e-governance in all its functions including assessment and post assessment related activit...
Company Law : The Registrar of Companies (RoC) on Tuesday issued a show-cause notice to Kolkata Knight Riders (KKR) for inadequate regulatory fi...
Goods and Services Tax : Orissa High Court held that proper officer has exercised discretion in intimating petitioner that ITC has wrongly been availed. Ho...
Income Tax : ITAT Bangalore held that delay in filing the return and Form No.67, beyond period under section 139(1) of the Act, is not fatal to...
Income Tax : The Hon'ble Madras High court in the above cited case held that in deciding the application for condonation of delay in filling re...
Income Tax : CBDT extends 'due-date' of filing income-tax return for assessment-year 2018-2019 as prescribed in section 139(1) of the Act, from...
Income Tax Department is moving towards e-governance in all its functions including assessment and post assessment related activities. It desires that, there should be least or no personal interface with the taxpayers in these proceedings. That means, all the communication between the department and the taxpayers would have to be mainly through e-mail & SMS […]
The last date to file income tax return for the assessment year 17-18 was 31 July, 2017. However, the due date for filing the income tax return extended to 5th of August, 2017 by the government. In fact, the income tax return filing within the deadline is very crucial especially for the Financial Year 2016-2017 in […]
In this article, below key changes / amendment under Service Tax Laws relevant for filing of Service Tax Returns (ST-3) for FY 2016-2017 are discussed:- 1. Krishi Kalyan Cess 2. Government Services under Reverse Charge Mechanism 3. CENVAT Credit Rules 4. Interest on late Payment of Service Tax 5. Form ST-3 Amendments
It was surprisingly a warm day in 2009 in Minnesota, Minneapolis, USA which ranks among the coldest states, when I got a telephone from a young lady, by her talk, I presumed, that her checking account with a local bank in California, USA was frozen by local tax authorities.
Though this is the last month of filing of income tax return for majority of the tax payers but there persists a confusion as to the ITR form which one has to use. Let us now discuss which form is applicable in your case and clear the doubts.
Krishna, July month has started. It is said that income tax return has to be filed in this month. So whoare required to file income tax return before 31st July and what care they should take before filing it? Arjuna, every person whose annual income exceeds the basic exemption limit i.e. exceeds Rs.2.5 lakhs, then he will be required to file income tax return compulsorily. Income tax return of F.Y. 2015-16 shall be filed before 31st July.
Section 139 (4) further provides that “Any person who has not furnished a return within the time allowed to him under sub-section (1), or within the time allowed under a notice issued under sub-section (1) of section 142, may furnish the return for any previous year at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
The articles explains the provisions related to filing of Income Tax Return for Financial Year 2015-16 , Carry forward of loss from business specified u/s 35AD (i.e. businesses in respect of which certain capital expenditure are deductible), Provisions related to filing of Belated Return and Changes in Provisions related to Filing of Revised Return.
The CBDT has issued a release that With Assessment Year 2016-17, individuals and HUFs filing their returns of income in ITR-1, ITR-2, ITR-2A and ITR-4S, having income exceeding Rs50 lakh will now be required to furnish information regarding assets and liabilities in Schedule-AL of the relevant ITR form.
The process of electronically filing Income tax returns through the internet is known as e-Filing. e-Filing of Returns/Forms is mandatory for A. In the case of an Individual/HUF a. Where accounts are required to be audited under section 44AB ;
