Extending Timeline for filing of Income Tax Returns for the Assessment Year 2021-22Circular No. 01/2022F. No. 225/49/2021/ITA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, dated 11th … [Read more...]
INCOME TAX NEWS
Information about Income tax , Income Tax Rates For Assessment Year 2015-16, Income Tax Exemptions
Due date of furnishing of Return of Income is further extended to 15th March 2022
The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 30th November 2021 under sub-section (1) of section 139 of the Act, is hereby further extended to 15th March, 2022Circular No. 01/2022F. No. … [Read more...]
One-time relaxation for verification of income tax-returns e-filed for the Assessment Year 2020-21
It has been decided by the Board to provide one-time relaxation for submission of ITR-V/e-Verification for resolving the grievances of the taxpayers associated with non-verification of ITRs for the Assessment Year 2020-21F. No. … [Read more...]
Income Tax Exemption for COVID-19 Treatment
The Central Government has decided to provide income-tax exemption to the amount received by a taxpayer for medical treatment from an employer or from any person for treatment of COVID-19 during financial year 2019-20 and subsequent years. … [Read more...]
Extension of time limits to provide relief to taxpayers in view of the severe pandemic
The Central Board of Direct Taxes, in exercise of its power under section 119 of the Income-tax Act, 1961 provides relaxation in respect of the following compliances o provide relief to taxpayers in view of the severe pandemicCircular No 9 of … [Read more...]
Extension of time limits for Income Tax Returns to 10th January 2021
The Department of Revenue, Ministry of Finance has extended the last date to file income tax return (ITR) for FY 2019-20 for individuals from the current deadline of December 31, 2020, to January 10, 202Government of IndiaMinistry of … [Read more...]
Income Tax 2020-21 Deduction from salaries Circular No.20/2020
The rates of deduction of income-tax from the payment of income under the head “Salaries” under Section 192 of the Income-tax Act. 1961 during the financial year 2019-20F.No. 275/19212020-IT(B)Government of IndiaMinistry of FinanceDepartment of … [Read more...]
Due date of furnishing of Income Tax Returns for the FY 2019-20 extended
Extension of due date of furnishing of Income Tax Returns and Audit ReportsIn view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and … [Read more...]
Income Tax Return Due Date for 2019-20 extended to 30th November 2020
On further consideration of genuine difficulties being faced by the taxpayers due to the outbreak of COVID-19 pandemic, the Central Board of Direct Taxes (CBDT) extends the income tax return due date from 30th September 2020 to 30th November … [Read more...]
Last date for Exercising option for Old or New Income Tax Rates for the Financial Year 2020-21
Labour Ministry directed its official to to exercise their option to choose between old or new income tax structure for the financial year 2020-21 (assessment year 2021-22) for the purpose of monthly income tax deduction on or before … [Read more...]
