Category: Income Tax

Clipped from: https://economictimes.indiatimes.com/wealth/tax/missed-the-income-tax-return-filing-deadline-heres-what-you-can-do/articleshow/65631847.cms If you miss the deadline (currently December 31, 2021) to file your income tax return (ITR) for FY 2020-21, don’t worry, you can still file

Clipped from: https://www.business-standard.com/article/pf/3-days-left-for-filing-itr-what-happens-if-you-miss-the-dec-31-deadline-121122901260_1.html The due date for ITR filing for the fin ancial year 2020-21 (the assessment year 2021-22) has been extended twice Income tax returns (ITR) filing

Clipped from: https://www.thehindubusinessline.com/news/itr-for-assessment-year-2020-21-can-be-verified-till-feb-28/article38060448.ece The Central Board of Direct Taxes (CBDT) has provided a one-time relaxation for verification of e-filed ITRs for AY2020-21 If you are yet

Clipped from: https://www.thehindubusinessline.com/news/matter-of-right-for-assessee-it-dept-allows-oral-hearing-via-video-conferencing/article38063166.ece Earlier, it was at the discretion of the dept The Income Tax Assessee can now avail an oral hearing through video conferencing (VC)

Clipped from: https://www.financialexpress.com/money/income-tax-return-how-to-enter-ltcg-details-on-multiple-sip-transactions-quickly/2393638/ After redeeming their investments, equity MF investors face a daunting task of entering investment-wise details of long-term capital gain in their ITR. With

Clipped from: https://www.thehindu.com/business/Economy/income-tax-department-eases-norms-for-faceless-appeal-scheme/article38067104.ece Commissioner (Appeals) to allow hearing via video The Income Tax department has brought in changes to the existing faceless appeal scheme, easing the

Clipped from: https://www.thehindubusinessline.com/money-and-banking/itat-reiterates-gold-jewellery-up-to-500-grams-for-married-women-not-to-be-added-in-taxable-income/article38050958.ece CBDT set the threshold of gold not to be seized during search & seizure Source of gold jewellery with or without diamond studded

Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-dept-tracks-these-46-financial-transactions-of-yours-via-the-annual-information-statement/articleshow/88446198.cmsSynopsis The income tax department has launched the Annual Information Statement or also known as AIS. It shows the information the income tax department

Clipped from: https://economictimes.indiatimes.com/wealth/tax/when-can-you-not-use-form-itr1-to-file-income-tax-return-for-fy-2020-21/articleshow/88524293.cmsSynopsis Form ITR-1 is used by most individual salaried taxpayers to file their income tax returns. However, there are certain situations where an individual

Clipped from: https://economictimes.indiatimes.com/wealth/tax/when-can-you-not-use-form-itr1-to-file-income-tax-return-for-fy-2020-21/articleshow/88524293.cmsSynopsis Form ITR-1 is used by most individual salaried taxpayers to file their income tax returns. However, there are certain situations where an individual

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-changes-in-2021-precautions-to-take-when-filing-and-tax-resolutions-for-2022/videoshow/88525908.cms We recap tax changes, particularly in context of the ITR filing season and for last-minute tax filers, with the help of Divya Baweja,

Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-filing-advantages-of-filing-itr-even-if-total-income-is-below-exemption-limit/2392144/ The filing of income tax return helps in a faster and easier processing of loan documents. Apart from the loan, the income tax

Clipped from: https://www.thehindubusinessline.com/money-and-banking/not-filing-i-t-returns-can-affect-visa-applications/article38050744.ece Close up of Indian Income tax return form on isolated background   –  istock.com/lakshmiprasad S Close up of Indian Income tax return form on

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/why-it-pays-to-be-a-resident-tax-payer/article38037526.ece iStockphoto   –  iStockphoto iStockphoto   –  iStockphoto× Certain tax benefits are available to a resident individual but not to non-residents Income tax laws generally

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/how-to-calculate-tax-on-selling-stocks-post-split/article38037452.ece I had 25 Vaibhav Global shares purchased on 4/3/21 at ₹3930.49 and 25 shares on 5/3/21 at ₹3740.19. Shares were split on 7/5/21

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-penalty-these-taxpayers-dont-have-to-pay-late-fee-for-missing-deadline/articleshow/86029470.cmsSynopsis There are certain individuals who can file their ITR without paying a penalty even after the expiry of the deadline. Let us take

Clipped from: https://taxguru.in/income-tax/hc-stays-assessment-order-passed-passing-draft-assessment-order.html?utm_source=feedburner&utm_medium=email Sams Facilities Management Private Limited Vs National Faceless Assessment Centre & Anr. (Delhi High Court) 1. Allowed, subject to just exceptions. W.P.(C) 5185/2021