Post by: Renu Suresh in Income Tax
The Income-tax (Ninth Amendment) Rules, 2022 The Central Board of Direct Taxes vides a Notification dated 21st April 2022 has issued the Income-tax (Ninth Amendment) Rules, 2022. With this amendment, CBDT notified the Additional conditions for compulsory Income Tax return…
Post by: Sreeram Viswanath in Compliance Income Tax
ITR Forms for AY 2019-20 The Central Board of Direct Taxes (CBDT) has on the 1st of April, 2019, notified new ITR forms for AY 2019-20. The forms so notified include ITR-1 Sahaj, ITR 2, ITR 3, ITR 4 Sugam,…
Post by: Sreeram Viswanath in Government Initiatives Income Tax
Income Tax Filing Due Date Extended - A.Y. 2018-19 The Income Tax Department has extended the due date for filing income tax return for tax audit cases upto 31st October 2018. The announcement was made through Twitter as follows: https://twitter.com/IncomeTaxIndia/status/1049278032157048832…
Post by: Sreeram Viswanath in Compliance Income Tax
EVC Generation Using Demat Account Every taxpayer whose taxable income is above the basic exemption limit mentioned by the Income Tax Act should mandatorily to file an income tax return each financial year. Filing of income tax returns must be…
Post by: Sreeram Viswanath in Income Tax Personal Finance
EVC Verification - Income Tax Filing As per the Income Tax regulations, it is mandatory for taxpayers to file their income tax returns for the transactions performed in a financial year if the taxable income exceeds the basic exemption limit.…
Post by: IndiaFilings in Government Initiatives Income Tax
TDS on Bank Deposit and Interest Interest income earned from bank deposits and other types of securities are taxable under the Income Tax Act. Hence, banks or financial institutions paying interest are required to deduct TDS at the rate of…
Post by: Sreeram Viswanath in Compliance Income Tax
Belated and Revised Return A belated return implies the delayed filing of returns. If the taxpayer has not submitted his return of income within the due date as specified, or within the time allowed under a notice issued by an…
Post by: IndiaFilings in Income Tax Personal Finance
Annual Value of Property The annual value of a property is the sum for which a property is reasonably expected to be let from year to year. Hence, the annual value of a property is the amount of notional rent…
Post by: IndiaFilings in Compliance Income Tax
Income Tax Return All persons including individual, HUF, firm, LLP, company or trust have to file an income tax return if the total income during the financial year has exceeded the maximum amount which is not chargeable to income tax,…
Post by: IndiaFilings in Compliance Income Tax
How to File Income Tax Return? An income tax return is a communication made to the Income Tax Department by the taxpayer, informing the department about the financial details of the taxpayer. The details are provided for every financial year…
