Income tax return, GSTR-9 annual return filing: As 2020 draws to a close, several deadlines are just around the corner. It is important to note that you must know the timelines for key financial tasks to avoid fines, penalties, and other problems in the coming year. There are several important …
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The ‘Jhatpat Processing’ feature would help taxpayers to file their tax returns smoothly. As the deadline for filing the ITR for the 2019-20 tax year or the 2020-21 tax year approaches, the Income Tax Department has created the ‘Jhatpat Processing’ function. The Income Tax Department has introduced a new initiative, …
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Even if your income is below the exemption threshold, you must file tax returns if you have paid an electricity bill of Rs 1 lakh or more during the year or spent Rs 2 lakhs or more on overseas trips. Filing an income tax return (ITR) is usually the last …
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There are certain categories of individual taxpayers for whom the provision of ITR is mandatory, regardless of whether their income exceeds the exemption limit. By Chirag Nangia Individual taxpayers are required to submit tax returns, before the due date, if their total gross income for the year, calculated in accordance …
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By: ENS Economic Bureau, edited by Explained Desk | New Delhi | Updated: October 24, 2020 7:00:48 pm The deadline for filing personal income tax returns for the 2019-20 fiscal year has been extended by one month until December 31. The government has further extended the filing deadlines for income …
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Since the software allows the comparison, reconciliation and rectification of errors, in addition to pre-filling and validating errors, it saves users later legal problems. Today, taxpayers can file income tax returns (ITR) through three modes: offline, online, and software. While this simplifies the process, certain modalities must be scrupulously followed …
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