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Comparing observed inadequacy with ultraist purposes like an anti-national plan to destabilize the administration is inexcusable when talking about icons like Nandan Nilekani, Infosys, and the information technology (IT) industry in general. The industry’s offering to India’s development is a matter that justifies no recurrence. Recently an article was issued in the Rashtriya Swayamsevak Sangh […]
On the note of troubles faced by the taxpayers and different stakeholders while filing of Income Tax Returns including multiple reports of audit for Assessment Year 2021 – 22 behalf the Income-tax Act, 1961(‘the Act’), Central Board of Direct Taxes (CBDT) has come up with the result to expand the last dates for filing of […]
The e-filing portal of the income tax department reveals that there is a rise in the ITR filing to 3.2 lakh daily during September 2021 and 1.19 crore ITRs for AY 2021-22 even when there are issues inside the portal and has been furnished as per the statement provided through the Finance ministry. “The Income […]
The income tax portal is the toughest interface between the income tax department and the assessee of the country. Besides allowing e-filing of the ITR for users the portal has been practised with the intention of executing the other work concerning tax assessments like monitoring the notice provided through the council, giving specific responses to […]
ITR filing is important for all specific people if their taxable income exceeds Rs 250,000 per year. According to the ITR rules, the ITR filing is also important for the person who has furnished more than 1 lac in the electricity bills or offered foreign travel exceeding Rs 2 lakh in the financial year. But […]
The Income Tax Department has revised the Income Tax Return software to eliminate the failure due to incorrect calculation of interest beneath Section 234A and late fee beneath Section 234F of the Income Tax Act, 1961. “The ITR software was rectified on 1st Aug 2021 itself to remove the error due to incorrect computation of […]
The income tax department has recently shared 3 official email IDs for the betterment of grievances redressal under the Faceless Assessment Scheme notified by the government in the earlier phases. This email ID will be the connecting point for all the taxpayers who have any grievance related issues in the tax assessment or the penalty […]
You shall be amazed to know that since July 24, every day more than 1 lakh income-tax returns have been filed on the new web portal of the Income Tax Department. Worth mentioning here that the new website of the Income Tax Department was launched on June 7 of this year. In fact on Tuesday […]
Under section 147 of the Income Tax Department, The Income Tax Department is empowered to reassess an individual’s previous/privately filed income tax returns. The assessing officer possesses the power to pick the income tax return for the reassessment keeping in consideration some predefined criteria by sending the notice under section 148 for the purpose of […]
