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With the intention of bringing every taxpayer under the radar of GST Compliance and to evade GST frauds, the government has decided to reward everyone who pays tax honestly. Some internal sources revealed that in the form of reward from the government honest taxpayers will get a considerable relief in Income tax they are paying. […]
The last rate for tax return filing for the Fiscal Year 2019 i.e. 31st August seized a sum of 49,29,121 tax returns being filed, as per the statement made to the press by the Income Tax department. The total number of ITRs filed in last four to five days of August is quite impressive and […]
Every Indian Taxpayer contributes to the well-being of the nation by allowing the outgo of some money from their personal account in the form of Tax. Centralized Processing Center (CPC) governed by the Income Tax Department is responsible for verifying the documents and processing them for the claimed tax refunds. There is no way to […]
Taking into account the complaints regarding harassment by Income Tax officials, the Union Finance Ministry has decided that notices, summons and orders by the Income Tax Department will now be issued through a centralized computer from 1st October. This means, now the Income Tax authorities will no longer be able to issue a notice or […]
The taxpayers who received notice or order from the Income Tax Department are now able to check whether it is genuine or fake. It can easily be checked through the facility provided by the Income Tax Department on its official website. In order to check the genuineness of the Income Tax Notice/Orders, attributes such as […]
In a big relief to the taxpayers, there will be 2 more additional ITR forms to come pre-filled in the upcoming financial year i.e. FY 2020-21. This move will help those taxpayers who are looking for an easy way to file the ITR. Currently, the ITR 1 SAHAJ is being pre-filled in this fiscal year. […]
Recently the government announced that the indirect tax dispute resolution scheme which was discussed in the budget session will be coming from 1st September and will be live till 31st December. As per the statement released, “Government expects the scheme to be availed by a large number of taxpayers for closing their pending disputes relating […]
The taxpayers at the time of filing their income tax return (ITR) have to clear their previous tax pending to complete the process of ITR filing. Adding to this, any mistakes made while submitting self-assessment tax or advance tax during the year will also result in non-deposit of tax. Such tax deposits will also not […]
Central Board of Direct Taxes (CBDT) is marching forward towards “Digital India” and it has framed its mind to utterly knock off the manual processing with the taxpayers. The orders of the same have been given to income tax officials. As per this major policy conclusion, the tax officials will be able to have only […]
