Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : Understand what belated ITR filing is in 2025, including deadlines, late fees under Section 234F, and the loss of tax benefits lik...
Income Tax : ITAT Bangalore held that disallowance of agricultural expenses based on estimation is unsustainable without concrete evidence, rul...
Income Tax : Understand Section 139 of the Income Tax Act, its implications on return filing due dates, and the changes for FY 2023-24. Learn a...
Income Tax : Understand the concept of Updated Return under the Income-tax Act, its necessity, tax implications, and filing process. Get insigh...
Income Tax : The Court quashed criminal proceedings after finding that the petitioner had ceased to be a director before the due date for filin...
Income Tax : The Bangalore ITAT held that Section 54 relief cannot be denied when capital gains are invested in a new residential house before ...
Income Tax : The Tribunal held that entries found in third-party ERP software during a search cannot alone justify unexplained investment addit...
Income Tax : Mumbai ITAT held that no further profits can be attributed to a DAPE once the Indian agent is remunerated at arm’s length for al...
Income Tax : The Court held that rejecting condonation solely because the assessment year was not mentioned in the circular is unjustified. It ...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...
Income Tax : CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headqua...
Direct Taxes Professionals’ Association has made a representation to Hon’ble Finance Minister, Mrs. Nirmala Sitharaman, and requested for extending dates for filing belated and Revised IT Returns for AY 2020-21 and for furnishing Form 10A for fresh Registration under section 12AB and exemption under section 80G of the Income Tax Act, 1961 DIRECT TAXES PROFESSIONALS’ […]
The Central Board of Direct Taxes after considering the severe continuing COVID-19 pandemic situation in the country, vide Circular No. 9 of 2021, dated 20 May 2021, has extended the deadlines of certain compliances for the Assessment Year 2021-22
In the wake of the pandemic Covid-19 and in the interest of taxpayers, the Central Board of Direct Taxes (CBDT) extended time limits for various compliances as under: 1. Statement of Financial Transactions (SFT) & Statement of Reportable Account (SRA):Due Date of SFT and SRA for the FY 2020-2021 has been extended from 31st May 2021 […]
सरकार द्वारा कोरोना महामारी को देखते हुए आयकर से सम्बंधित विभिन्न तिथियों को बढ़ा दिया है जिससे करदाताओ को राहत मिलेगी आयकर से सम्बंधित बढाई गई मुख्य तिथिया निम्न है 1. वित्तीय लेनदेन से सम्बंधित स्टेटमेंट जिसे (एस.एफ.टी) भी कहा जाता है वित्तीय वर्ष 2020-2021 जिसे 31 मई 2021 तक भरना था वह अब 30 […]
The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of section 139 of the Act, is extended to 30th September 2021; 10) The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September 2021, is extended to 31st October 2021;
CBDT issued Income Tax circular No. 09/2021 dated 20.05.2021, in exercise of its power under section 119 of the Income-tax Act, 1961 w.r.t. Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic and spike in Covid-19 cases: Extended Income Tax Due Date Chart after Considering circular […]
File your revised/belated Income Tax Return for FY 2019-20 (AY 2020-21) before the extended deadline of 31 May 2021.
Belated Return and Revised Return for the Assessment Year 2020-21 may be filed on or before 31st May, 2021 In view of the adverse circumstances arising due to the severe Covid-19 pandemic, the CBDT, in exercise of its powers under Section 119 of the Income Tax Act, 1961 (‘the IT Act’), has issued a Circular […]
Learn about the golden opportunity to file ITR for A.Y-2020-21 with Section 139 (4). Don’t miss the chance to submit your belated return and meet your tax obligations.
CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headquarters at Delhi, to act as the ‘Prescribed Income-tax Authority’ for the purpose of sub-section (2) of section 143 of the Act, in respect of returns furnished under section 139
