financial services · Income Tax · income tax return

CBDT Extends PAN, Aadhaar linking to 31 December’19

In a relief to taxpayers, the Central Board of Indirect Taxes has extended the deadline to link PAN with Aadhaar to December 31, 2019. Earlier, the last date was September 30, 2019. This notification is issued for the taxpayers who have not linked their PAN with their Aadhaar. As per the Tax Administration, the PAN… Continue reading CBDT Extends PAN, Aadhaar linking to 31 December’19

financial services · Income Tax

CBDT extends ITR filing deadline for Audit Cases by a month to 31 October 2019

The Central Board of Direct Taxes (CBDT) has extended the Income Tax Return filing deadline for audit cases from 30th September 2019 to 31st October 2019. As per the Income Tax Act Rule, the ITR should be file by those entities who are assessed under section 44AB of the income tax such as companies, partnership… Continue reading CBDT extends ITR filing deadline for Audit Cases by a month to 31 October 2019

financial services · income tax return · Taxation

Finance Minister reduces Corporate Tax to stimulate economy growth

The Finance Minister, Mrs. Nirmala Sitharaman on 20th September has taken a new decision for the Indian economy by unveiling a tax bonanza for Indian Companies. As per the historic move, Nirmala Sitharaman announced a deduction in the country’s corporate tax rate to 22% (effective rate of 25.17% including cess and surcharge) for existing firms,… Continue reading Finance Minister reduces Corporate Tax to stimulate economy growth

financial services · Income Tax · income tax return

Not Got Your Income Tax Refund Yet? Here’s What You Should Do

Once your income tax return is processed, it almost takes 30-45 days for you to receive the refund. Taxpayers who have filed their income tax return before July 31 might have received the refund by now. On the other hand, Tax assesses who have filed the ITR around August 31 for the financial year 2018-19… Continue reading Not Got Your Income Tax Refund Yet? Here’s What You Should Do

financial services · Income Tax · income tax return

CBDT Cautions Taxpayers Not to Share PAN Details on Microblogging Sites

In the recent statement by the Income Tax Department, it has cautioned all the taxpayers who are holding Permanent Account Number to not to disclose their ten-digit alphanumeric number PAN publicly on the internet and social media. The income tax administration stated that sharing personal information on the micro-blogging such as Facebook, Twitter, and other… Continue reading CBDT Cautions Taxpayers Not to Share PAN Details on Microblogging Sites

financial services · GST

Alert: File your GSTR-3B Before 20th Sep ’19’ and Avoid Penalty

The last date to file GSTR-3B for the month of August 2019 is 20th September ’19’. In case you miss the deadline for GSTR-3B, you will be legally responsible to pay a late fee and penalty charges. As per the Central Board of Indirect Taxes and Customs, the delay will impose a fine of Rs… Continue reading Alert: File your GSTR-3B Before 20th Sep ’19’ and Avoid Penalty

financial services · Income Tax · income tax return

Know All About Intimation Notice u/s 143(1)

After the Income Tax Department has processed the income tax return, it will send an intimation notice to taxpayers under section 143(1) of the Income Tax Act 1961. The individuals who have filed their Income Tax Return for the financial year 2018-19 will receive the intimation on the registered e-mail Address same as registered in… Continue reading Know All About Intimation Notice u/s 143(1)

financial services · Income Tax · income tax return · Taxation

Don’t forget to Verify your Returns after E-filing

After you have filed your Income Tax Return it is necessary to e-verify your return.  As the ITR filing deadline was August 31, 19 for the financial year 2018-19 thus, all the taxpayers who have furnished ITR should e-verify ITR within 120 days of filing. Because if you do not e-verify the returns than your… Continue reading Don’t forget to Verify your Returns after E-filing

financial services · Income Tax · income tax return

Did You Miss the ITR Filing Deadline? Here’s what you need to know

  In the tumultuous period of income tax return filing session, numerous taxpayers missed the August 31 deadline for Income Tax Return filing. Did you also miss it? Relax! If you missed the tax deadline you do not need to feel panic about this as there is still a choice to file a belated ITR… Continue reading Did You Miss the ITR Filing Deadline? Here’s what you need to know

financial services · income tax return

Income Tax Department creates a new record with filing of 49 lakh ITRs

A day after the income tax return filing session has been completed, it has created a new world record of online e-filing ITRs in a single day and that too so easily. As per the Central Board of Direct Taxes, nearly 49 lakh income tax return was filed by the taxpayers on August 31st, 2019… Continue reading Income Tax Department creates a new record with filing of 49 lakh ITRs