Last date to file ITR (Income Tax Return) under section 139(1) for AY 2020-21, 2021-22 and 2022-23 is gone, however, still one can file Income Tax Return. The Finance Act, of 2022 has introduced a new concept of updated Income Tax Return (ITR-U), which has permitted taxpayers to file their ITRs after two years of […]
Read moreITR Due Date: Central Board of Direct Taxes (CBDT) has extended the due date for filing of Income Tax Return from 31st October 2022 to 7th November 2022 for the businesses filing their audited ITR and partners of the firms. The Circular for the same is below- Circular No. 20/2022 F. No. 225/49/2021f1TA-1lGovernment of IndiaMinistry […]
Read moreITR-U: The Income-tax department has collected around Rs 28 crore in taxes after about 1 lakh returns were filed by taxpayers under the newly introduced return filing form called ITR-U, that was notified this year as part of the Budget 2022-23. CBDT Chairman Nitin Gupta said the scheme was brought by the Union government for […]
Read moreThe last date to file income tax returns has already passed last month, whereby crores of income taxpayers filed their ITRs. However, verifying income tax returns are as important as filing them, since unverified ITRs are treated as invalid by the income tax department. Once the taxpayer verifies the ITR, the income tax department processes […]
Read moreExtend Due Date Immediately: Taxpayers have requested the government to extend the due date for filing Income Tax Return as the deadline is approaching. The last date for filing Income Tax Return is July 31, which is just 3 days away. Many users have complained about technical glitches on the e-filing website. However, the centre […]
Read moreIncome Tax Return (ITR) filing is no more an option now. Time to time, Government has tried to cover all most all people whether or not they are in profit or doing business. To avoid any litigation, it is always advisable to file ITR before due dates because of its various merits. Due date for […]
Read moreThe time for the filing of income tax return for the assessment year 2022-23 has arrived. The deadline for ITR filing AY 2022-23 is July 31. Experts suggest taxpayers shouldn’t wait for too long for filing their income tax return. Many of those who file income tax returns get income tax notices. Most of them […]
Read moreThe last date for income tax return (ITR) filing for FY 2021-22 (AY 2022-23) is July 31, 2022. In the previous two years, the government extended the ITR filing due date and other income tax-related deadlines due to the novel coronavirus pandemic and glitches in the newly launched income tax portal. However, with things going […]
Read moreThere are lots of confusion about new tax regime. People are not able to decide which one to opt for. Which income tax regime is better old or new? What is difference between old and new regime? How can I save tax on my new tax regime? Old Income Tax Regime Vs New: What Should […]
Read moreTaxable components of Salary: Salary is not an one amount. It is the bundle of components like basic pay, gratuity, bonus, perquisites, pension, Advance of Salary, Leave Encashment, Provident Fund, House Rent allowance, city allowance, transport allowances, internet reimbursements etc. Different company has different salary structure. However, there is one drawback to the all the […]
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