The last date for filing income tax returns for the financial year 2020-21 is 30 September 2021. Any person who is below 60 years of age, who earns Rs 2.5 lakh annually, is exempted from income tax. Any person whose total income exceeds the tax exemption limit, he has to file income tax return. We …
There is good news for taxpayers. Now the taxpayers will not have to stand in the dock of questions. In fact, the IT Department notified three official email IDs for taxpayers to file complaints under the ‘Faceless’ or e-Assessment Scheme. Under the e-assessment scheme, there is no face-to-face between the taxpayer and the tax officer. …
There is relief news for businessmen. According to the order of the government, now GST taxpayers with a turnover of more than Rs 5 crore will be able to self-certify their annual return. For this, there will no longer be a need to get mandatory audit certification from Chartered Accountants. The Central Board of Indirect …
Whatever did not happen in the last 12 years regarding income tax , happened during the tenure of Modi government. The central government on Monday presented its account data for the financial year 2020-21. For the first time in 12 years, personal income tax has been higher than corporate tax. That is, ordinary taxpayers have …
The deadline for filing income tax returns for the financial year 2020-21 has now been extended to September 30, 2021. ITR should be filed by all irrespective of whether they fall in the taxable bracket or not, because many times the tax is deducted even if the salary is not taxable or more tax is …
As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorised dealer for any foreign remittance. In view of the difficulties reported by …
Income Tax Return Deadline: In view of the second wave of Corona epidemic, the government has announced some reliefs for the taxpayers. The government has extended the deadline for income tax related works. As taxpayers will now have more time to file TDS, the government has extended tax relief to first-time home buyers as well. …
It is mandatory to link PAN card with Aadhar by June 30 (PAN-Aadhar Link). If you have not linked PAN with Aadhaar till now, then do it before June 30, otherwise you will have to pay a fine of Rs 1000.
If you have not yet filed Income Tax Return, then fill it this month, because from July 1, you may have to pay a big price, let us tell you that the IT Department has made the rules very strict for th,ose who do not file ITR. If you have not yet filed Income Tax …
The new website of Income Tax e-filing will start from today, more facilities have been given in this new website than before. It was closed for 6 days before launching the new website. Till now taxpayers were doing many other things including filling their tax returns on the old portal of Income Tax (incometaxindiaefiling.gov.in). The …