financial services · Income Tax · income tax return

CBDT extends the Due Date for filing Income Tax Returns to 31st Aug ’19’

The income tax authority has extended the due date for income tax return filing to 31st August from 31st July ’19’. The CBDT took this decision on Tuesday to provide a relief for taxpayers who were facing difficulties while filing the income tax return. With the extension of the deadline, there is a sufficient time… Continue reading CBDT extends the Due Date for filing Income Tax Returns to 31st Aug ’19’

financial services · Income Tax · income tax return

Hurry up! Just a few days left to File Income Tax Return for the FY 2018-19

As only nine days left for the income tax return filing and the clock is ticking for taxpayers who are still waiting to file their income tax return for the assessment year 2019-20. Generally, if individuals would not file income tax return will be responsible to pay penalty for not filing ITR before the deadline.… Continue reading Hurry up! Just a few days left to File Income Tax Return for the FY 2018-19

financial services · Income Tax · income tax return

CBDT Rejects Social Media Rumours on ITR Filing, Says No Change in Income Tax Return Forms

The Central Board of Direct Taxes (CBDT) on Tuesday refuted reports in social media about changes being executed in ITR forms 2 and 3. The income tax department stated that only the utility software has been updated which is not going to hamper the filing of returns. Meanwhile, there were reports in social media that… Continue reading CBDT Rejects Social Media Rumours on ITR Filing, Says No Change in Income Tax Return Forms

financial services · income tax return

Pre-validate Bank Account to Get Income Tax Refund Amount

If any taxpayers mistakenly calculated the income tax paid in surplus or have an excess tax deducted at sources, no worries. Now, individuals who are yet to be prepared for ITR filing can get a refund of the estimated amount by claiming a refund while filing an income tax return. Although, the income tax department… Continue reading Pre-validate Bank Account to Get Income Tax Refund Amount

financial services · Income Tax · income tax return

Here’s how to report income from investments

When you prepare for income tax return filing, form 16 is one of the most imperative documents which is issued by the employer of the company. Many of us contemplate Form 16 as the only vital document which is actually may not be enough, thus, there are other sources of income as well that you… Continue reading Here’s how to report income from investments

financial services · Income Tax · income tax return

Penalty you will pay for missing ITR filing deadline

31st July is the last date to file an income tax return for the financial year 2018-19. If any taxpayers fail to pay the taxes on time, then he will be liable to pay the additional charges for not compensating the taxes on time. Moreover, as per the new rule’s the penalty for late filing… Continue reading Penalty you will pay for missing ITR filing deadline

financial services · Income Tax · income tax return

Step-by-step guide to download Pre-filled XML of ITRs 1, 2, 3 &4 for AY 2019-20

  The Income Tax Department has recently stated that Pre-filled XML of ITR 1, 2, 3 and 4 for AY 2019-20 are now available at Income tax efiling website. On the other hand, Prefilled XML of other ITRs are expected to be available shortly. With all the forms available on the income-tax website and the… Continue reading Step-by-step guide to download Pre-filled XML of ITRs 1, 2, 3 &4 for AY 2019-20