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Who should file Income Tax Return and what are the advantages of filing an Income Tax Return?Any person as described under to section 2(31) of Income tax act are required to file Income tax return if their total net income falls under the taxable category.…
Who is eligible to use this Return Form?This Return Form can be used by a company as per section 2(17) of the Income Tax Act, This form is filed by a company other than a company which is required to file return in Form ITR‐7.…
Are you filing Income Tax Return? If yes, this article is for you. The due date for filing of Income Tax Return is extended to 31st December 2021 from 30th September 2021 for the Financial Year 2020-21 i.e. A.Y. 2021-22. In this article, we will…
Infosys is committed to making rapid progress in further streamlining end-user experience Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today shared further updates on the progress it is making on the Income Tax E-Filing Portal. Over the last…
Taxpayers are ought to submit their respective Income Tax Return within the stipulated time frame to avoid penalties. There are basically two major documents that you need for filing your annual returns namely Form 16 and Form 26AS. These two documents are complementary and should…
Filing of income tax returns (ITR filing) is mandatory for those whose annual income exceeds Rs 2.5 lakh. In case of old age, ITR should be filed only if the income exceeds Rs. 3 lakhs. Beyond 75 years .. Those earning only on pension and…
The Central Government has extended the deadline for filing income tax returns. However, if you fail to file your returns even within that time, you will be charged Rs. 5,000 fee is payable. According to information provided by the Ministry of Finance, the deadline for…
Simple and Advance preparation for ITR Filing (FY 2020-21 / AY 2021-22) The ITR filing season has begun. Before you file your ITR, you need to do some groundwork to ensure that the actual process of working out the numbers for your ITR and filing…
Form ITR-1 is also known as Sahaj. Most taxpayers use this form. This is especially true for wage earners and Indian citizens earning less than Rs 50 lakh. Another important thing to remember here is that ITR-1 Form cannot be filed if the income from…
Sources said the ITR filing deadline could be extended beyond September 30 if the technical issues are not resolved. No official statement has been released so far (25.08.2021). The new website is something that is not open from Saturday to Sunday night. Most people are…