Difference between Survey & Search under Income-tax – Know about it because your Peace of mind is important
Survey and Search as per Income tax act are different. There are differences between Survey & Search. Please find the differences here
Income-tax
Advance Tax – Final Installment Due on 15th Mar 2023
The last installment of payment of Advance tax falls due on 15th March 2023. The tool for calculating advance tax and also tax payment procedure is attached herewith
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Advance Tax 2nd Instalment Reminder
The due date for payment of Advance Tax for the Financial Year 2022-23 (AY 2023-24) is 15th September 2022. Please Check the below post to check if you are liable to pay Advance Tax The Procedure for Tax payment is provided in this link
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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 »
Paying electricity Bills more than 1 Lakh? Ensure you file your Income tax returns..
Paying electricity Bills more than 1 Lakh? Ensure you file your Income tax returns
Paying electricity Bills more than 1 Lakh? Ensure you file your Income tax returns.. Read More »
If you have multiple PAN number, You are committing an Offence.. What should you do…??
Do you have more than one PAN? Check out what are the consequences and how to correct it.
If you have multiple PAN number, You are committing an Offence.. What should you do…?? 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
File your Income-tax returns before due date if you have any losses… Read More »
Retail & Wholesale Trade is now MSME
As per the existing guidelines , Retail and Wholesale trade is out of the ambit of MSME. The trade has been requesting the Government of India to include Retail & Wholesale Trade also within the ambit of MSME there by the benefits of MSME will reach these type of businesses also. With the revised guidelines,
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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
Extension of various time lines for filing under Income-tax for the year 2020-21 Read More »
Various Time limits under Income-tax extended.
As per the Press release by the CBDT dtd 24th Apr 2021 , the time limits for the following are being extended :- Time Limit for passing any order of Assessment or Re assessment ; Time Limit for passing any order consequent to order of DRP ; Time Limit for reopening assessment in case income
Various Time limits under Income-tax extended. Read More »
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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One time relaxation for verification of old Income-tax returns
CBDT provides one time relaxation for verification of electronically filed IT Returns for Assessment Yrs 2015-16 to 2019-20 which are pending due to non-filing of ITR-V form & processing of such returns. CBDT Circular No.13/2020 dt 13th July,2020 issued.
One time relaxation for verification of old Income-tax returns Read More »
Procedure to make declaration under Vivad Se Vishwas Scheme Notified
The Central Board of Direct taxes (CBDT) vide its Notification No 12 of 2020 dtd 19th March 2020 has notified the procedure to be followed for making declaration under Vivad Se Vishwas Scheme 2020. The relevant notification is reproduced below
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