The Income Tax Department has enabled the Income Tax Return (ITR) Rectification on the portal for the Assessment Year 2020-21. A rectification request under section 154(1) is allowed by the Income Tax Department for correcting
As the return filing became the most important hurdle before the taxpayers and the Government, measures are being taken to ease the process. With a view to encouraging return filing among the Small and Medium
The Revenue department has directed the officers to scrutinize the mismatch between the turnover numbers declared by the businesses in their income tax and service tax returns for the years 2015-16 and 2016-17. A letter
The Group of Ministers (GoM) headed by Bihar deputy chief minister Sushil Modi likely to discuss about simplification of return filing process under the goods and services tax ( GST ). For this, the GoM
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while deleting the penalty under section 271(1)( c) of the Income Tax Act, ruled that the penalty can not be levied when there is no concealment in
The Government, in a bid to curb tax evasion and money laundering, started comparing the income tax returns and Goods and Services Tax ( GST ) returns to identify the mismatch between these returns. The
The Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19. For Assessment Year 2017-18, a one page simplified ITR Form-1(Sahaj) was notified. This initiative benefited around
The Central Board of Direct Taxes (CBDT) passed the detailed order regarding no further Extensions for Tax Audit Reports due dates. The Gujarat High Court in the case of The All India Gujarat Federation of
The National Anti-Profiteering Authority did not find the construction service provider, M/s Aryan Hometec guilty of profiteering. The Applicant stated that he had purchased a fiat in the Respondent's project “Aryan Founttain Square” and had
The Central Government is likely to launch annual GST returns form for the filing of the Goods and Services Tax in the next meeting of the GST Council, reports said. Reportedly, the Government is drafting
Filing income tax returns (ITR) in India is mandatory for certain individuals, but can be voluntary for others. Understanding your obligation and the different ITR forms can help you decide whether to file and choose
The Central Board of Indirect Taxes and Customs ( CBIC ) has notified the waiver of late fee of all pending Form GSTR-1 from July 2017 to November 2019. In the 38th meeting of the
After the due date of filing GST for this year, it has found that only 16 percent of the summary sales returns under the Goods and Service Tax matching with the final returns consequently, the
The Central Board of Direct Taxes (CBDT) has notified the Form-ITR-U for the filing of updated return. The return of income to be furnished by any person, eligible to file such return under the sub-section
According to an interview with Revenue Secretary Sanjay Malhotra, taxpayers must submit their Income Tax Returns (ITR) by July 31, 2023, and the government has no plans to extend the deadline. The Income Tax Department