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Search results for: income tax department

Installation Process of Income Tax Return Mobile App

How to Install ITR Filing New Mobile Application on Tax Portal?

We are living in the Digital Era. In view of the aforesaid fact, The Government of India has recently launched a mobile app through which you can file your Income Tax Returns Read the easy guide on e-filing of IT return online in India. Step by step guide to filing income tax returns through official […]

Tax Notices Based on Application of Data Analytics

Companies & Taxpayers Receive Tax Notices Over Data Analytics Results

There are various companies and people who might avoid furnishing the taxes has come beneath the taxman’s lens mentioning an explained investigation upon the grounds of the application of the data analytics and machine learning and robust information sharing amid different tax councils. The government practised the statistics of the last 2 fiscal years to […]

No Income Tax Deduction on Expert and Consultancy Charges

Bangalore ITAT: No Tax Deduction on Consultancy Charges for Possession of Companies

It has been held by the Income Tax Appellate Tribunal (ITAT), Bangalore Bench that income tax deduction could not be allowed to those assessees who are paying the Professional & consultancy charges for acquiring the companies. The reason being the aforesaid expenditure is Capital Expenditure. Here, in this case, the assessee Steer Engineering Private Limited […]

New Tax Regime Under Section 115BAC

Brief Guide of New Tax Regime (Section 115BAC) with 10IE Filing

The Finance Act, 2000 has incorporated numerous amendments along with introductions. One such example is the introduction of the new tax regime. Though it seems chaotic, in essence, it is one of the revolutions in the area of tax. The Finance Minister has announced the new tax slab rates for the: Latest Update Who Can […]

Income Tax Compliance Before 31st July 2021

Important Income Tax Formalities Need to Complete Before 31st July

In the wake of the second Covid-19, the Income Tax Department has stretched the deadlines for various Income Tax compliance and provided relief also in certain cases. Here is the list of the income tax compliances (updates) Here we have provided complete notifications related to the Income Tax and TDS provisions as per the official […]

Key Reforms for Transparent Taxation

8 Points of Transparent Taxation for Income & Corporate Tax, Business

We must have heard about the era of the Industrial Revolution, the IT era and so on. But what about this era? This is an ‘Era of Transparent taxation’ or in other words ‘Era of Tax reforms’. The reason attributed to the new ‘era of Transparent Taxation’ or ‘era of tax reforms’ is the blend […]

CBDT: Extends Due Date of Updating UDIN

CBDT Dept Prolongs Last Date of Updating UDIN for all Tax Forms

The Central Board of Direct Taxes (CBDT) has again extended the last date of updating the Unique Document Identification Number (UDIN) at the e-filing web portal of the Income Tax Department from 31st January 2022 to 30th April 2022. “The CBDT has extended the last date for updating UDINs for all the IT forms at […]

New ITR 2.0 Portal to Allow Payments Via Multiple Options

I-T E-filing 2.0 Portal to Permit Tax Payments Via Credit Cards & UPI

The new income-tax portal 2.0, which was launched on June 7, is most probably going to add more private banks to its list for payment of income tax, fees, penalty, and refunds under the umbrella of the Income Tax Act 1961. The portal shall also provide multiple payment options that include Unified Payment Interface (UPI) […]

Latest Update for New ITR Filing 2.0 Portal

Pros and Cons of Advanced Income Tax Return E-filing 2.0 Portal

The old web portal of the Income Tax Department i.e. incometaxindiaefiling.gov.in has been replaced by a new and more interactive web portal that is assigned the web address of incometax.gov.in. The new web portal has been launched from June 7 onwards. Here are the changes that have made the new website more interactive and appealing. […]

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