India
7024984925
Whatsapp No.
Whatsapp No.
There are certain types of exempt income from tax, it is important for a taxpayer to disclose such income on their income tax return (ITR). In future, it may become difficult for a taxpayer to explain the source of a particular income, if exempt income is not disclosed now in ITR. Various types of income are exempt from […]
Read moreFrom FY 2020-21 onwards, the income tax department has exempted certain non-residents and foreign investors from filing Income Tax Returns (ITRs), in an effort to reduce compliance burden. With Notification No. 119/2021, Central Board of Direct Taxes (CBDT) notified the exemptions. Non-residents (corporates/ others) who do not earn any income other than income from investment […]
Read moreIncome Tax Return (ITR) due date is extended to 31st December 2021. Many people without consulting tax experts invest in schemes that are popular among the individuals. Especially those who have income from salary there are very less ways to save tax for them. Lets have a look on the mistakes to avoid while investing […]
Read moreF.No. 225/188/2021/ITA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct taxes New Delhi, Dated 24th September, 2021 Order u/s 119 (2)(a) of the Income-tax Act, 1961 Subject: Regularisation of returns of income verified through Electronic Verification Code (EVC) which are otherwise required to be verified through Digital Signature (DSC) as per Rule 12 of the […]
Read moreCBDT: On consideration of difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961(the “Act”), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and […]
Read moreAs the due date for submitting the Income Tax Return approaches, the Union Finance Ministry has announced that technical issues with the income tax portal are being resolved “progressively.” It also stated that there has been a positive trend in the submission of income tax returns on the newly launched website. A statement has been released […]
Read moreTDS (Tax Deducted at Source) should ideally be the same in Form 26AS and Form 16 or 16A. However, sometimes there might be Mismatch in Form-16 and Form 26AS due to several reasons including clerical mistake. To be able to file your income tax return, it is essential that tax credit in Form 26AS and Form 16/16A should […]
Read moreIncome Tax Return: Last week, when many taxpayers tried to file their ITR after July 31, 2021 (the original due date), they were asked to pay a late fee. However, the new Income Tax portal had been fixed now, and that taxpayers will not be charged a late fee for filing forms until September 30, […]
Read moreIncome Tax late fee: The due date of filing Income Tax Return for Non- audit assessee was 31st July 2021. However, due to pandemic, the income tax department extended the due date of filing ITR for AY 2020-21 to 30th September 2021. Therefore, income tax late filing fees and interest under section 234A up to […]
Read moreIncome Tax Return: The due date to file income tax return for the financial year 2020-21, or assessment year (AY) 2021-22 is September 30, 2021. Individuals under the age of 60 who earn up to Rs 2.5 lakh per year are exempt from paying income tax. If a person’s gross total income exceeds the tax […]
Read more