The last date for filing Income Tax (ITR Filing Last Date) is 31 July 2022. If you do not file ITR on time, you may face a penalty. Have you ever thought that even if someone dies, he still has to file ITR or not? As per the rules, it is necessary to file the …
To curb tax evasion, the government has now increased its guard. A new rule has been made to prevent tax evasion from cash transactions across the country. The Central Board of Direct Taxes (CBDT) has issued a notification for this. It will be mandatory to provide PAN details According to the notification of CBDT, now …
India’s income tax (IT) department has notified a new form, ITR-U, for taxpayers filing their updated tax returns. The move seeks to reduce lengthy adjudication timelines and use of resources for improper tax filing and is based on the self-assessment of taxpayers. What is the new ITR form? In the new form, ITR-U, the taxpayer …
The Supreme Court on Wednesday invoked its extraordinary powers under Article 142 of the Constitution to upload all reassessment notices issued after march 31, 2021, by the income tax department reopening assessments going back six years. In the budget for FY22, the government had reduced this reopening period to three years with effect from April …
India Post has been announced the launch of Online services for the National Pension Scheme (NPS), a voluntary retirement saving scheme that aims to ensure everyone’s financial stability after retirement. Noe all eligible citizens can open an NPS account online without physically visiting any post office. The online service has been made available from April …
If you are also a tax payer then this news is very important for you. The government has changed the rules for filing tax returns. Actually, the government has increased the scope of income tax filing to bring more people into the tax bracket. The Ministry of Finance has given this information. Finance Ministry issued …
The Last date for the linking Pan card with Aadhaar card is tomorrow 31-03-2022 and failing to meet the deadline might result in two things — your PAN card being inoperative and attracting a late fee as well. The previous deadline for linking PAN card with Aadhaar was 30th September 2021. The Central Board of …
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of such Forms. The further details are as under: …
Under The Direct Tax Vivad se Vishwas Act 2020 (hereinafter referred to as “Vivad se Vishwas Act”), the amount payable by the declarant is stated in the table under section 3 of the Vivad se Vishwas Act. As per the latest notification dated 25th June 2021, the last date of payment of the amount (without any …
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 …