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April 9, 2024
Data analysis was carried out in some high-value cases of mismatch: CBDT
April 8, 2024
The statement also highlighted the objective of the e-verification which was to alert cases of mismatches of information for FY21 only without affecting others.
April 8, 2024
There have been reports on social media and in the news about CBDT inquiries into cases where employees have inaccurately claimed HRA and rental expenses
February 29, 2024
The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.
January 10, 2024
Income Tax Returns 2024: If a taxpayer was unable to file the belated return within the specified deadline (December 31) due to valid reasons, they have the option to seek a condonation of delay from the Central Board of Direct Taxes (CBDT) under Section 119 of the Act.
January 5, 2024
The last date to file the ITR for FY 2023-24 without a late fee is July 31, 2024. The return you will file in 2024 is for the income you earned in the period between April 1, 2023, and March 31, 2024.
December 15, 2023
If you have missed the income tax return (ITR) filing deadline of July 31, 2023, then you have time till December 31, 2023 to file a belated ITR. Also, if there is a mistake in the belated or original ITR, then also you can file revised ITR. The last date to file belated and/or revised ITR is December 31, 2023.
August 22, 2023
An updated return can be filed at any time within 24 months from the end of the relevant assessment year.
August 17, 2023
The Budget 2022 amended the income tax laws to allow a taxpayer to file updated return using ITR-U form. However, the income tax laws has clearly defined the instances where a taxpayer can and cannot file updated return. The aim of allowing taxpayers to file updated return is to increase the voluntary compliances and avoid litigation.
August 16, 2023
The income tax laws allow an individual to file updated return. The concept of updated return was introduced in the Union Budget 2022 to allow individuals rectify their mistake made while filing ITR or to allow one more chance to individuals to file ITR if they have not filed ITR previously.