Compliance Calendar July 2021 Nature of Compliance Due Date INCOME TAX Depositing of TDS/TCS for June 2021 07.07.2021 Equalisation levy payment due date for the month of June 2021 in respect of equalisation levy […]
Tag: INCOME TAX
Extension of Time Limit for Income Tax Compliance
The CBDT vide circular No. 08/2021, dated 30-04-2021 has extended the due dates relating to various compliance under Income Tax Act, 1961. In order to provide further relief to taxpayers in view of a severe pandemic, the CBDT vide circular No. 09/2021, dated 20-05-2021 has further extended the time limits of certain compliances. Extension of […]
UPDATED DUE DATE CHART OF INCOME TAX COMPLIANCE
Nature of Compliance Due Date/ Extended Due Date Belated Return of Income for A/Y 2019-20 30th November 2020 Revised Return of Income for A/Y 2019-20 30th November 2020 Third instalments of advance tax for A/Y 2021-22 15th December 2020 Opting for Vivad se Vishwas Scheme 31st December 2020 Furnishing of Tax Audit Report and […]
Deadlines that ends on 31st July, 2020
Due to the coronavirus pandemic, the government had extended the various due dates for giving relaxations to the taxpayers. In this context, the government has been extended the due date for filing of the income tax return for the financial year 2018-19 (2019-20) to 30th September 2020 via notification no. 56/2020 dated 29.07.2020. It should […]
Deadline for filing ITR for FY 2018-19 further extended to 30th Sep., 2020
CBDT via notification no. 56/2020 dated 29.07.2020 extend the ITR filing due date of financial year 2018-19 to 30th September 2020. Now the assessee can file originally or revise ITR of the financial year 2018-19 till 30th September 2020. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the […]
Is PAN Mandatory for some transactions?
A. PAN IN RETURNS OR CERTIFICATES OR CORRESPONDENCE Every person shall quote his permanent account number (PAN) in all his returns or challans or correspondence with any income-tax authority. Other than this, every person shall quote his PAN in all documents pertaining to the transactions specified in rule 114B and given in the table below: […]
Updated Due Date Chart of Income Tax Compliance
Due to COVID-19 pandemic and challenges faced by taxpayers, the Government has extended dates for direct taxes. A list of Due dates/Extended due dates are as follows: Nature of Compliance Due Date/Extended Due Date Making Tax saving Investments For A/Y 2020-21 31st July, 2020 Filing of belated or revised ITR for A/Y 2019-20 31st July, […]
House Rent Allowance : A Tax Saving Lifeline for Salaried Person
House Rent Allowance (HRA) is generally considered as a part of salary component and is generally added in the salary structure to help the individual to save taxes. House rent allowance deduction is given under section 10(13A) of the Income Tax Act accordance with Rule 2A of the Income Tax Rules. If you stay in […]
CHANGE IN FORM 26AS
On 18th of July, 2020, CBDT issued a press release on new form 26AS. Now, Form 26AS will not only for TDS, TCS or other taxes paid but will also show high value transactions of taxpayers. First, we will discuss about Annual Information return for background of new form 26AS. ANNUAL INFORMATION RETURN An Annual […]
CBDT e-campaign on voluntary compliance of income tax for FY 2018-19 from 20th July, 2020.
PRESS RELEASE CBDT to start e-campaign on Voluntary Compliance of Income Tax for FY 2018-19 from 20th July, 2020 The Income Tax Department is all set to start an e-campaign on voluntary compliance of Income Tax for the convenience of taxpayers from Monday, the 20th of July, 2020. The 11 days campaign ending on 31st […]