Income-tax

How to make Income tax payment online for AY 2023-24 (FY 2022-23)

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Follow the below mentioned procedures to make Self Assessment Tax payment for FY 2022-23 (AY 2023-24) 1. Go to the Below Link –  https://www.incometax.gov.in/iec/foportal/ 2. Click e-Pay Tax 3. Provide Pan/Tan and Mobile Number 4. Enter the received OTP 5. Click Proceed under Income Tax 6. Provide your Pan/Tan and Name 7. Select 2023-24 under Assessment Year & Self Assessment […]

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Difference between Survey & Search under Income-tax – Know about it because your Peace of mind is important

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Survey and Search as per Income tax act are different. There are differences between Survey & Search. Please find the differences here

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Update on Income-tax Return verification

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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….

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

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….

2 Comments / General, Income tax return filing, Income tax return filing in chennai, Income-tax /

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…

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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

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

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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

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