Blog – SMART TAX SAVING & PLANNING – TAX RETURN

April 3, 2023

New Financial Year, New Tax Rules: 8 Big Income Tax Changes to Take Effect on 1st April

As we approach the start of the new financial year (FY 2023-24), we will witness some great changes which will come into effect from April 1, 2023.? These changes will be the addition of new rules or reforms to existing ones. The finance minister, ?Shrimati Nirmala Sitharaman,? has introduced several tax amendments in the Budget…
September 26, 2022

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…
February 24, 2022

Top 7 Unusual Ways to Save Income Tax

For most people, paying income tax at the end of a financial year is a cumbersome task. A majority of the hustle revolves around planning the submission of insurances, rent and other receipts in a way that leads to the lowest possible tax liability. Income tax planning need not be a cumbersome task when you…
February 2, 2022

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…
February 1, 2022

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…
January 29, 2022

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…
January 17, 2022

Budget 2022: What Taxpayers can Expect from the Upcoming Budget

The budget session of 2022 is on the horizon. We’re gearing up for a fantastic year in terms of the economy.� The Hon’ble Finance Minister Nirmala Sitharaman will announce the Budget 2022 after just a few weeks. And because of the COVID-19 epidemic, people have high expectations from the budget this year. Here are a…
January 11, 2022

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…
January 7, 2022

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…
December 30, 2021

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,…