Not Received the Income Tax Refund Yet? Find out the Reasons Here

After having your income tax return verified, receiving your refund is the phase that everyone looks forward to the most. However, our wait is frequently prolonged! There are multiple reasons for not receiving the refund. If you are one of those who have filed their ITR before the due date and have not received their… Continue reading Not Received the Income Tax Refund Yet? Find out the Reasons Here

Budget 2022-23 Explained: 7 Major Changes Proposed In The Budget

Finance Minister Nirmala Sitharaman outlined the budget for 2022. According to a lot of tax experts, the 2022 budget is financially sound. The biggest highlight is definitely the digital currency tax has been proposed with several other changes.  In this blog, let’s have a look at the main findings: New updated return Budget 2022 introduces… Continue reading Budget 2022-23 Explained: 7 Major Changes Proposed In The Budget

Budget updates 2022- Direct Tax

As the finance minister presented the budget 2022, here are the updates related to direct taxation:  – Provision for filing ‘Updated Income Tax returns’ within 2 years from the end of relevant Assessment Year. With this, if any taxpayer forgets to disclose the income in the ITR, he can disclose the income and pay the… Continue reading Budget updates 2022- Direct Tax

Everything About Submission of Investment Proof To Your Employer

As the financial year is about to end, we again have to buckle up for the investments and savings to keep our future secure. But before you buckle up for this year, have you submitted proofs of the investment (investment proof) declared for the FY21-22? To avoid higher taxes and to obtain tax rebates, we… Continue reading Everything About Submission of Investment Proof To Your Employer

Latest Update: For the Assessment Year 2021-22 Due Date for Tax Audit Cases Extended

In light of the difficulties reported by taxpayers and other stakeholders as a result of COVID and electronic filing of various audit reports under the provisions of the Income-tax Act of 1961 (Act), the Central Board of Direct Taxes (CBDT), in exercising its powers under Section 119 of the Act, relaxes the following requirements: In… Continue reading Latest Update: For the Assessment Year 2021-22 Due Date for Tax Audit Cases Extended

Published
Categorized as News

Belated Return for AY 2020-21: How to File Belated Return and Penalty on Late Filing

The deadline for filing the income tax return (ITR) for the financial year 2020-21 was December 31st and the CBDT issued Rs 1,50,407 crores in refunds for those eligible. Did you miss your filing tax returns? Fret not!  You still have the opportunity to file your income tax return. Yes, you can take advantage of… Continue reading Belated Return for AY 2020-21: How to File Belated Return and Penalty on Late Filing

Only One Day Left To File ITR: Here Are 6 Things To Keep In Mind

For those who are unfamiliar with the process, filing an income tax return (ITR) can be a daunting task. Because this is a complicated and technical procedure, there is a great risk of making mistakes if you provide wrong or incomplete information. Especially if you are filing your income tax return on the last day,… Continue reading Only One Day Left To File ITR: Here Are 6 Things To Keep In Mind

Published
Categorized as Latest News

All You Need to Know About Taxation on Sales of Agricultural Land in 2021

As India is primarily an agrarian economy, persons who make a living from agriculture are granted a variety of incentives and benefits. For instance, farmers in India are exempted from paying any tax on their income from agricultural land under the country’s income tax regulations.  However, this does not mean that no tax is levied… Continue reading All You Need to Know About Taxation on Sales of Agricultural Land in 2021

Published
Categorized as Latest News