Income tax return filing

Statutory Obligations for the month of December 2023

The below are the various Statutory Obligations for the month of December 2023.Please ensure to comply with the obligations to avoid Interest / Penalty Sl. No Nature of Statutory Obligation Statute Due Date Link 1 Due Date for Payment of TDS for the month of November 2023 Income-Tax 07th Dec 2023 Link for Payment of …

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Cost Inflation Index for F Y 2023-24 notified

The CBDT has notified vide its Notification No 39/2023 dtd 12.06.2023 that the Cost Inflation Index (CII) for the year 2023-24 be 348. What is Cost Inflation Index? The Cost Inflation Index (CII) is a crucial parameter used in the Indian tax system to adjust the purchase cost of assets and investments for inflation. It …

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10 Crucial Guidelines for Accurate Tax Filing

10 Crucial Guidelines for Accurate Tax Filing Filing taxes can be an intimidating task, and even a small error can have significant repercussions. As an esteemed CA firm in India, we understand the importance of precise tax filing and its impact on financial matters. In this blog post, we will present you with ten essential …

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Update on Income-tax Return verification

1) ITR should be verified within 30 days instead of earlier 120 days 2) Only speed post mode is allowed for manual verification 3) Returns filed till 31.07.22 can be verified within 120 days 4) Date of e-verification or manual verification is the date of filing the returns in case of returns e verified or …

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Are you liable to pay Advance Tax? Check this out….

Payment of Income-tax as Advance tax is an obligation to be met by the Tax payers. Are you liable to pay Advance tax? Are there any exemptions? When should these advance tax payments be made? Find answers for all your queries here. Read on…. When does the question of Advance tax arise? If your total …

Are you liable to pay Advance Tax? Check this out…. Read More »

Are you liable to pay Advance Tax? Check this out….

Payment of Income-tax as Advance tax is an obligation to be met by the Tax payers. Are you liable to pay Advance tax? Are there any exemptions? When should these advance tax payments be made? Find answers for all your queries here. Read on…. When does the question of Advance tax arise? If your total …

Are you liable to pay Advance Tax? Check this out…. Read More »

File your Income-tax returns before due date if you have any losses…

The due date for filing your Income-tax returns is fast approaching. Many think that only if you have Income you need to file your Income-tax returns on time. But the fact is even if you are facing losses, it becomes important to file your returns on time, on or before the statutory due date. There …

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Extension of various time lines for filing under Income-tax for the year 2020-21

Extension of various deadlines under Income-tax vide CBDT Circular F.No 225/49/2021-ITA-II dtd 20th May 2021 Sl. No Name of the Compliance OriginalDue date ExtendedTime line 1 Statement of Financial Transactions (SFT) for the year 2020-21 31st May 2021 30th June 2021 2 Statement of Reportable Account for the  year 2020 31st May 2021 30th June …

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New provision – TCS on Goods Sold (Tax On Purchase)

The Finance Act,2020 has introduced a new provision for Tax Collection at Source (TCS) u/s. 206C(1H) of the Income tax act,1961. This is w.e.f. 1st Oct 2020. As per this provision, Tax has to be Collected at source (TCS) in respect of Sale of Goods @ 0.1% on the consideration received on sale of such …

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