Income Tax Return
Income Tax Return News
If you fail to file the ITR within the due date, you will be required to pay penal interest on the unpaid tax liability if there is any
If taxpayers fail to submit the ITR by the due date, they can still file it by 31 March 2022, which is the last date to file their income tax return.
For the financial year 20-21, the due date for filing the ITR is 31 December, 2021. Both online and offline options are provided by the government for filing the ITR
This figure includes income tax refunds of Rs 23,026 crore in 61,53,231 cases and corporate tax refunds of Rs 69,934 crore in 1,69,355 cases, an official Twitter post said
This comes merely a day after the income tax department said a number of technical issues on the new ITR portal are being progressively addressed and 1.19 crore ITRs for 2020-21 fiscal year have been filed so far.
Income tax department has notified declaration forms to be filed by senior citizens aged 75 years and above with banks to get exemption from filing I-T return.
The new tax portal, which went live on 7 June, continues to face a slew of issues including longer logging in time and inability to generate OTP for Aadhaar validation.
The portal, www.incometax.gov.in, is aimed at providing taxpayer convenience and seamless experience to taxpayers, the Central Board of Direct Taxes (CBDT) said in a statement
The Income-tax department is currently revamping the ITR e-filing website
To avoid penalty, the revised or delayed income tax return for FY 2019-20 also needs to be filed by 31 March
ITR 2019-20: Govt extends deadline till 10 Jan; individuals, firms requiring audit can file income tax return by 15 Feb
The govt has also extended the due date for filing declaration under the direct tax dispute resolution scheme Vivad Se Vishwas by a month till 31 January while the deadline for filing GST annual return for FY2019-20 has been extended by two months till 28 February, 2021
There is a penalty fee that needs to be given if a person misses their ITR filing date.
Before e-verifying returns, taxpayers must have permanent account number (PAN), assessment year for which the ITR has been filed, acknowledgment number and electronic verification code
ITR 2019-20 filing last date till 31 December: Here's the list of documents and steps to file income tax returns online
With the ITR filing last date approaching closer, taxpayers, who are yet to file returns, should do it as early as possible to avoid any last-minute rush or error.
Earlier, the return on income earned between 1 April, 2019, and 31 March, 2020, was due by 31 July
The Central Board of Direct Taxes (CBDT), in a clarification, said companies will be allowed to utilise such credits only against regular taxes under the old regime
The CBDT on Thursday extended the 30 September deadline by a month for filing of income tax returns (ITRs) for special cases requiring audit reports
The government has set a target of adding 1.3 crore income tax filers in the current financial year against 1.1 crore new filers last year, Parliament was informed on Monday
Over 1.46 crore income tax returns have been filed so far, of which 90.8 lakh have been filed by individuals with total income up to Rs 50 lakh
ITR2 filing too complex and replete with avoidable details; Income Tax Department can use information from employers instead
ITR2’s information appetite is gargantuan and voracious. One can imagine the plight of the filers uninitiated in the nuances of the income tax law