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The income tax department would diminish the time duration for the e-verification or hard copy submission of the ITR-V, after furnishing the returns by the assessee from the current 120 days to 30 days at the start of August 1. The council would be provided with a notification on July 29 mentioning the amendment in […]
ITR furnishing would say to be the yearly activity, all the Indian citizens liable, and in the current times, we are near to it since July 31, 2022, is approaching which is the last date. Submitting the income tax return the tax department verifies the declarations along with the taxes furnished to see if all […]
FM Nirmala Sitharaman mentioned that the trust relying on the taxation grounds made by the government would give an outcome in the rectification of the collections along with that it surged in furnishing the number of returns. On the 163rd income tax day, FM complimented the department for securing the highest revenue collection ever of […]
The income tax department has found that towards the AY 2022-23 they had obtained more than 2 cr ITR. The former date to furnish the yearly Income tax return for the salaried assessee and the non-auditable cases would be 31st July. “Income Tax e-filing portal has received more than 2 crore Income Tax Returns (ITRs) […]
Before furnishing the ITR filing last date the same might assist to check your Annual information statement (AIS) on the tax portal and show any inconsistencies in it. The government says that they support solving the issues which arise because of misreporting or the system might not have enabled to fully fetch the information. The […]
The assessee at various times would go through the income tax and the tax deducted at the source (TDS). there is a difference between the two. When it is a question of calculation these taxes procedure differs. Hence, prior to paying the tax returns, the same would be important for the salaried people to prevent […]
This article elaborates on the income tax, the administrative framework of Income-tax, the Return Filing Period, who is subjected to furnish the tax, what is the method to furnish the tax, precautions in tax payment, when to furnish the tax, advance tax computation, Income Tax Challans, Exempt Income Taxable, Income, Form 26AS under income tax, […]
From the traders to claim the amnesty scheme announced in the state budget 2022, the Kerala state GST department has invited applications from the traders. The application would get submitted online. The businesses would submit the options to settle the arrears of several taxes such as Kerala Value Added Tax (KVAT), General Sales Tax, Central […]
The revenue department has initiated the search beneath anti-tax avoidance law, General Anti-avoidance Rule (GAAR), for companies and entities who uses bogus methods to prevent furnishing the taxes. A Hyderabad-based firm, Ekge retail has obtained a notice where the department has applied section 96(1)(d) of the Income-tax Act, which is concerned with prohibited agreements undertaken […]
