The taxman acknowledges that to err is human, and gives you a chance to fix it You may well let out a whoop of exhilaration after filing your tax return: it’s a well-merited response, considering the consequences of missing your…
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Irrespective of whether your employer has deducted tax at source (TDS) on your salary or you have paid tax on your own, you should file your income tax return (ITR) if you fit certain criteria. Under Section 139(1)(b) of the…
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PAN card is one of the most essential identity documents, and is provided to Indian citizens who are aged over 18 years and have a valid source of income. PAN cards are issued under the provisions of the Income-Tax Act,…
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Taxmen can’t deny assessee’s legitimate claim in revised return, rules ITAT. Good news for taxpayers. They can now not only file a revised income tax return (ITR) after a notice has been issued by the Income Tax Department, but even…
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The policy-making body of the tax department issued an order, under Section 119 of the Income Tax Act, late night, extending the deadline. The CBDT had last extended the deadline on March 27. The latest order said the deadline for…
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With June 2018 coming to an end you must be preparing for income tax return (ITR) filing for the assessment year 2018-19. The last date for filing income tax return for FY 2017-18 is July 31. Before filing your ITR,…
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Income tax return filling is a daunting task for NRIs even the slightest mistake or mismatch can land them in a trouble. To make the matter worse, the Income Tax Department has now attached a penalty for missing the deadline…
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The income tax department can allow taxpayers to file returns post the deadline for specific cases.
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The last 25 years have been of tremendous change for the Indian Economy. GDP growth rates have surged, India has integrated more with Global economy and more and more Indians have become NRIs. Many Indians, who have become NRIs in…
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The advantages of Filing Income Tax Return in India We had talked about why NRIs should File Income Tax Returns in India and about the advantages of having a PAN Card in India in our previous blogs. In this blog,…
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