income tax in india

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ITR refund Process – Check status online

ITR refund Process – Check status online There are two ways for Eligible taxpayers to check their ITR refund status online:   through the official website of the Income Tax Department through the website of the National Securities Depository Limited (NSDL) Mandatory Requirement: Taxpayer’s PAN. Steps to check ITR refund status via Income Tax Portal: …

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Income Tax Return: Be Ready to Pay Higher TDS if you Do Not Do this by March 31

If you have not linked your Permanent Account Number or PAN with Aadhaar card, be ready to pay higher Tax Deducted at Source (TDS) from next month. The last date for linking your Aadhaar number and PAN has been extended to March 31. Failing to link these two documents within the mentioned deadline, will have …

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Extension of various dues dates of filing Audit Reports and Income Tax Returns under Income Tax Act, 1961 in the backdrop of technical glitches on the IT portal coupled with Covid-19 third wave

Extension of various dues dates of filing Audit Reports and Income Tax Returns under Income Tax Act, 1961 (Representation)

BCAS jointly have made a Representation Smt. Nirmala Sitharaman for extension of various dues dates of filing Audit Reports and Income Tax Return under income tax Act, 1961 in the backdrop of technical glitches on the IT portal coupled with COVID19 third wave ITR Date: 08.01.2022 To, Smt. Nirmala Sitharaman Hon’ble Union Minister for Finance …

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Biggest recovery ever in the history of CBIC

WHAT IS e-FILING ? ADVANTAGES OF e-FILING

WHAT IS e-FILING ? THE PROCESS OF ELECTRONICALLY FILING INCOME TAX RETURN, THROUGH THE INTERNET, IS KNOWN AS e-FILING WHO CAN e-FILE? Individuals HUF Companies / BOI / AOP / Firms / Trusts / Local authorities / Artificial juridical person External Agencies Tax professionals – Chartered Accountants Tax Deductors and Collectors Electronic Return Filing Intermediaries …

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ITR Refund

Big relief to taxpayers! Additional interest and late fee will be refunded to taxpayers, Income Tax Department said – due to software glitch

If you have also been charged late fee and more interest during Income Tax Return Filing for the financial year 2020-21, then the money of additional interest and late fee will be returned to you. The Income Tax Department has extended the ITR filing deadline for the last financial year from July 31 to September …

Big relief to taxpayers! Additional interest and late fee will be refunded to taxpayers, Income Tax Department said – due to software glitch Read More »

Latest Income Tax & GST Weekly Due Dates, Notifications / Press Info, Case Laws, etc

Income Tax Quarterly Updates (April 2021 to June 2021)- Including Covid-19 relaxations / updates

Income Tax Quarterly Updates (April 2021 – June 2021)– Including Covid-19 relaxations / updates Income Tax is the tax that is collected by the Central Government for each financial year levied on the total taxable income of an assessee during the previous year.The Income Tax Act is a comprehensive statute that focuses on the different …

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INCOME TAX COMPLIANCES

Extension of Time Limits For Ease of Tax Compliance Related to Filing of Statement /Certificate/Vivad se Vishwas/ Linkage Aadhar with PAN and Other Compliances

Central Govt provides further relief to taxpayers during these difficult Covid times by extending timelines of certain compliances. Here is a quick look at the list of compliances that have been extended by CBDT Circular No 12/2021, Notification Nos 74/2021 &75/2021 dt 25.06.2021. Extension of Time Compliances related to filing of Statements/ Certificate Extension of …

Extension of Time Limits For Ease of Tax Compliance Related to Filing of Statement /Certificate/Vivad se Vishwas/ Linkage Aadhar with PAN and Other Compliances Read More »

How to file Income Tax Return of a Deceased Person

• According to the section 159 of the Income Tax Act, 1961; where a person
dies, his legal representative shall be liable to pay any sum which the deceased
would have been liable to pay if he had not died, in the like manner and to the
same extent as the deceased. The legal representative of the deceased shall,
for the purposes of this Act, be deemed to be an assessee.
• Income Tax return of deceased person can be filed by the legal heir/executor of
the deceased person. To file the ITR the legal representative/executor has to
get register as Legal heir on e-filing on portal.
• The legal heir has to login on e-filing portal and follow the below steps: