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Tag Archives: Advance tax

Didn’t file your income tax return? Chill out! The expiration date of the ITR is not over yet

12/01/2020 India

As the 2019-20 fiscal year ended in the middle of the full lockdown on March 31, 2020, several compliance dates were extended, including the due date for filing ITR for AY 2020-21. Each year, the due date for filing the income tax return (ITR) used to be July 31 of …

TDS, TCS rates cut to put cash in your hand, but your tax liability remains the same

05/13/2020 India

[ad_1] The government has reduced TDS and TCS rates for interest, dividends, and rental payments by 25 percent as of May 14, 2020 for the current fiscal year. Finance Minister Nirmala Sitharaman announced this at a press conference today. The source tax deduction (TDS) and source tax collection (TCS) rates …