Income tax return filing

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

Leave a Comment / Income tax return filing, Income tax return filing in chennai, Income-tax /

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

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

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

Income tax return filing, Income tax return filing in chennai, Income-tax /

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

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

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

Income tax return filing, Income tax return filing in chennai, Income-tax /

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

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