Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
CA, CS, CMA : Discover the complexities of tax compliance for freelancers and gig workers, from understanding income sources to navigating legal...
Income Tax : Understand the penalty for failure to furnish income tax return. Learn about the increased late fees and provisions under Section ...
Income Tax : I have covered only relevant compliances/information useful for Small Manufacturer, Traders only through this article which includ...
Income Tax : While filing your income tax return within due date is important, it does not mean that if for any reason you missed the dead line...
Income Tax : The Finance Bill, 2017 proposes to levy fees of Rs.5,000 in case where return is furnished after the due date but on or before 31S...
Income Tax : ITAT Hyderabad deleted Section 69A addition as cash deposits were already accepted as business turnover under Section 44AD, avoidi...
Income Tax : ITAT Amritsar set aside the reassessment and remanded the matter for fresh adjudication after directing verification of Section 14...
Income Tax : ITAT ruled that the reassessment order passed under Section 147 was unsustainable as it exceeded the limitation period prescribed ...
Income Tax : ITAT Hyderabad held that the reassessment notice issued for AY 2015-16 after 31.03.2022 was barred by limitation under the first p...
Income Tax : The Court held that a Section 148 notice issued beyond the statutory six-year limitation period is invalid. It ruled that expired ...
While filing your income tax return within due date is important, it does not mean that if for any reason you missed the dead line than you wouldn’t be able to file your income tax returns. But the clock turns on, which means as you have missed the dead line you might receive a notice from the income tax department any time.
The Finance Bill, 2017 proposes to levy fees of Rs.5,000 in case where return is furnished after the due date but on or before 31St December of the relevant assessment year and Rs.10,000, in other cases. However, it is also proposed to restrict the fees to Rs.1,000, where the total income does not exceed five lakh rupees.
Avoid penalties for non-filing of ITR before December 31st, 2019. Learn about Section 271F and the consequences of not filing your income tax return on time.
Many people came up with a query that what will happen if we do not file the Income Tax Return by 31st March. Here we are discussing only the adverse consequences of Non-Filing of the Income Tax Return.
