Page 4 - Income Tax E-filing

Income Tax dept operationalises e-advance ruling in Delhi, Mumbai

The Income Tax department on Saturday said the boards for advance rulings have been operationalised in Delhi and Mumbai, which will function through email-based procedures and conduct hearings through video conference. The Central Board of Direct Taxes (CBDT) had constituted three boards for advance rulings in September, 2021. Further, the scheme of e-advance ruling was introduced with an objective to make the entire process of advance rulings with a minimal interface and impart greater efficiency, transparency and accountability. "Subsequently, the Boards for Advance Rulings have been operationalised in Delhi and Mumbai. These Boards started functioning through e-mail-based procedures and conducting hearing through video conferencing," the CBDT said in a statement. A non-resident investor can obtain certainty on liability towards income tax even before undertaking the investment in India. Further, even a resident entity can obtain a ruling on the taxability of a transaction and avo

ITR Deadline Missed? Know late fees, rules, and penalty for late filing

The last date to file the income tax return for the FY 2022-23 has lapsed. Individuals can still file an ITR even after the ITR deadline, which is known as a belated ITR

ITR filing last date today: Step-by-step guide to filing your returns here

Today is the last day to file your ITR for FY23 or AY24. Check how to file it here and what happens if you fail to meet the deadline

ITR filing 2023: What happens if you miss the July 31 deadline to file ITR?

The last date to file ITR for FY 2022-23 is 31st July, 2023. Taxpayers must pay their taxes before the due date to avoid penalties or late fees. The government reportedly will not extend the due date

Filing ITR? Don't forget to declare your income from other sources

Income from other sources includes earnings from freelance work, investments, rental properties, or any additional ventures.

What is form 26AS and AIS? Which is more important in filing tax returns?

While they serve different purposes, understanding their differences and significance is crucial for accurate tax compliance.

Explained: How consultants and freelancers can file their ITR

There are less than two weeks for filing your income tax returns. If somebody is working as a consultant or a freelancer, then the process of ITR applied is different

Filing ITR for crypto gains: Here's your guide on taxation for VDAs

All cryptocurrency purchases, sales, and transactions are subject to a 30% capital gains tax on profits, with no provisions for reduced rates or deductions under Section 115BBH.

Filing your returns? Know key changes in ITR for assessment year 2023-24

A new disclosure has been added for 'Income from retirement benefit accounts'. Disclosure is required to be made about the taxable income on which relief under section 89A was claimed earlier

Filing tax returns for the first time? Make sure you read these handy tips

Collect essential documents like Form-16 / 16A bank statements, investment proofs, and receipts for deductions

How to reset password on Income Tax e-filing portal? Step by step guide

The income tax department gives you different options to reset your Income Tax e-filing portal password. Check out the step by step guide below

CBDT exempts NR taxpayers from mandatory Form 10F e-filing for now

The form 10F is signed physically by the Non resident taxpayers and furnished along with the tax residency certificate to the resident payers for the purpose of determining withholding tax implication

Common ITR form for all proposed by govt, here's what you need to know

It is expected that the proposed ITR form will be applicable from FY 2022-23 onwards

Common ITR form will make tax-filing easier, reduce time taken, say experts

Its success, however, will hinge on the quality of online utilities launched along with it

Address cause of tax refund failure, then request reissuance: Experts

Failure to verify return, incorrect bank address are key reasons for not receiving timely refund

ITR 2021-22: Chorus for deadline extension grows on social media

As the deadline for filing ITR approaches, the demand for extending it has also grown

Kotak Mahindra Bank completes tech integration with new e-filing portal

With this, Kotak Mahindra Bank becomes one of the first private banks to be fully integrated with the new Income Tax department portal

Cross-check data in pre-filled forms while filing income-tax return

The documents you collect for this purpose will prove handy if an assessing officer conducts inquiry

Missed December 31 deadline? You can file belated return by March 31

However, you may have to pay a penalty and won't be able to carry forward most types of losses

Just 3 days left for filing ITR, what happens if you miss the deadline

The due date for ITR filing for the fin ancial year 2020-21 (the assessment year 2021-22) has been extended twice