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 […]
Tag: ITR
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 […]
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, […]
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 […]
New Form 26AS is the Faceless hand-holding of the Taxpayers : CBDT
CBDT issued a press release on 18 July, 2020 on Form 26AS. PRESS RELEASE New Form 26AS is the Faceless hand-holding of the Taxpayers The new Form 26AS is the faceless hand holding of the taxayers to e-file their income tax returns quickly and correctly. From this Assessment year, taxpayers will see an improved Form […]
Checklist for filing of ITR 4 of Financial Year 2019-20
ITR-1 & ITR 4 forms for financial year 2019-20 released for e-filing by Income Tax Department. Who are eligible to file ITR-4? An Individual, HUF or Firm (other than LLP) who is ordinarily resident in India Income from salary/pension (for ordinarily resident person). Income from one house property but excluding brought forward losses and losses to […]
One Time relaxation for Verification of tax returns for the A/Y 2015-16 to A/Y 2019-20
CBDT through circular no. 13/2020 dated 13th July 2020 has provided one-time relaxation for Verification of income-tax returns for the Assessment Years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which was filed but verification was pending. An online electronically filed income tax returns are required to be verified either electronically by EVC / OTP or by […]
key changes in ITR forms for the AY 2020-2021
Income Tax Returns Forms 1 to 7 for A/Y 2020-21 Notified. Key changes in ITR forms for the AY 2020-2021. Passport One needs to disclose the Passport number if held by the taxpayer. This is to be furnished both in ITR 1-Sahaj and ITR 4-Sugam. Hopefully, it will be made mandatory in other ITR Forms […]