ITR filing in india

CBDT enables ITR Offline utility for AY 2021-22: Income Tax Return

The Income Tax Department has initiated the Income Tax Return (ITR) Offline utility for Assessment Year 2021-22. The department has made usable the Offline utility of ITR-1 and ITR-4 as of now. In this article, we will discuss CBDT enables ITR Offline utility. CBDT enables ITR Offline utility The Income Tax Department has inaugurated the … Read more

CBDT notifies Income Tax Return forms for 2020-21

The Income Tax department has announced forms for filing I-T returns for the 2020-21 fiscal, the Central Board of Direct Taxes explained on Thursday. In this article, we will discuss CBDT notifies Income Tax Return forms. CBDT notifies Income Tax Return forms The Income Tax department has announced the notification forms for filing I-T returns … Read more

CBDT Defers GST & GAAR reporting till 31.03.2022.

CBDT Defers GST & GAAR reporting

The Central Board of Direct Taxes (CBDT) postponed the Tax Audit Clause 30C and 44  till 31st Mar 2022 due to COVID-19. The CBDT has lengthened the due date for filing Form 3CD. In this article, we will discuss on CBDT Defers GST & GAAR reporting till 31.03.2022. CBDT Defers GST & GAAR reporting till … Read more

Rules That Are Changing From April 1, 2021: Income Tax

Rules That Are Changing From April 1

The Union Finance Minister Nirmala Sitharaman, while proposing Union Budget 2021 had announced a new simplified income tax regime to make some relaxation to the salaried class. The income tax changes, that have an effect on the salaried class will come into effect from April 1, 2021. In this article, we will discuss on Rules … Read more

What are Income Tax Rates and Slabs under the new tax regime?

What are Income Tax Rates

From Financial Year 2020-21, taxpayers will have the option of choosing between two income tax regimes. These options are the current/old tax regime and the latest, concessional tax regime. In this article, we will read about what are Income Tax Rates and Other important Information about Tax Regime. Income Tax rates and slabs under the … Read more

Extend Vivad Se Vishwas Scheme Due Date

Extend Vivad Se Vishwas Scheme Due Date

In a relief to taxpayers, the central government has again extended compliance deadlines for the Vivad se Vishwas direct tax dispute resolution scheme. In this article, we will discuss the due date for Extend Vivad Se Vishwas Scheme. Extend Vivad Se Vishwas Scheme The Central government has again extended the deadline for settling tax disputes … Read more

Government Increases Tax Audit Limit to Rs. 10 crores – Budget 2021

Government Increases Tax Audit Limit to Rs. 10 crores

Under the Union Budget 2021, Finance Minister Nirmala Sitharaman has announced the notification to increase the tax audit threshold limit from Rs. 5 crores to Rs. 10 crores. Also, this decision provides much-needed help to organisations and businesses that transact electronically. It aims to promote cashless digital transactions and reduce the burden of compliance for … Read more

No ITR Filing for Senior Citizens aged 75 years and above

IT relaxation for senior citizens

In the Union Budget 2021, the finance minister has declared that senior citizens above the age of 75 years, who simply have pension and interest as a cause of income has exempted from filing the income tax returns. In this article, we will discuss No ITR filing for senior citizens aged 75 years and above. … Read more

Vivad Se Viswas Scheme Last Date of Filing Extended 

VIVAD SE VISHWASH SCHEME

The Central Board of Direct Taxes has further extended the due date for filing a statement under Vivad Se Vishwas Scheme till February 28, 2021. In this article, we will discuss on Vivad Se Viswas Scheme the Last Date of Filing Extended. Vivad Se Viswas Scheme Last Date of Filing Extended The Central government has … Read more

₹ 450 Crore concealment detected in IT searches in Kolkata

₹ 450 Crore concealment detected

The CBDT has announced in a statement that the Income Tax Department has exposed undisclosed revenue of over Rs 450 crore after it raided some Kolkata-based entities involved in several businesses. In this article, we will discuss on ₹ 450 Crore concealment detected in IT searches in Kolkata. ₹ 450 Crore concealment detected The Income … Read more