Category: IT-Article

Transparent Taxation-Honoring the Honest (Faceless Assessment, Appeals)- Taxpayers Charter

As a part of “Reforms To Reward Your Honesty the Income Tax Department has implemented various measures to make tax compliance easier for taxpayers on 13th August 2020. This was launched as India’s first taxpayers charter. 1-Faceless Assessment 2-Faceless Appeals 3-Taxpayers Charter We will discuss in details. Highlights of Faceless Assessment Scheme: Dynamic Jurisdiction Team… Read More Transparent Taxation-Honoring the Honest (Faceless Assessment, Appeals)- Taxpayers Charter

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Income tax return filing deadline extended to 31st August, 2018

The Govt (Central Board of Direct Taxes (CBDT)) on Thursday i.e.  26-07-2018 has extended the deadline for filing of Income Tax Returns for AY 2018-19 by a month i.e. to August 31, 2018, for categories of taxpayers who were to file their returns by July 31. It means the assessee can file their income tax… Read More Income tax return filing deadline extended to 31st August, 2018

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Consequences of not Filing Income Tax Return on or before the Due Date

Consequences of not Filing Income Tax Return on or before the Due Date We need to file the IT return on or before due date as mentioned in Income Tax Act. There are number of consequences of not filling the Return of Income under Income Tax, which are as below: Late Filling Fee/ Penalty Late… Read More Consequences of not Filing Income Tax Return on or before the Due Date

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