Govt extends timelines for tax compliance, ITR for FY20 can be filed till May 31
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AAA The government on Saturday extended timelines for various income tax compliances, including the filing of belated or revised return for the 2019-20 fiscal, till May 31.
The Central Board of Direct Taxes (CBDT) said it had received representations from various stakeholders for relaxation on compliance requirements. In view of the adverse circumstances arising due to the severe COVID-19 pandemic and also in view of the several requests received from taxpayers, tax consultants & other stakeholders from across the country, requesting that various compliance dates may be relaxed, the Government has extended certain timelines today, an official statement said.
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Finance Minister Nirmala Sitharaman on Thursday said salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India. Quoting a tweet of TMC MP Mahua Moitra, Sitharaman clarified that the Finance Act 2021 has not brought in any new or additional tax on Indian workers in Saudi/UAE/Oman/Qatar. The minister said the said amendment in the Finance Act, 2021, has merely incorporated general definition of the term liable to tax in the Income Tax Act to provide clarity. This amendment has not altered the taxability of salary income earned by non-resident Indian citizens in Gulf countries. Their salary income earned in Gulf countries would continue to be exempt in India, the Office of Finance Minister Nirmala Sitharaman tweeted.
Income Tax department extends last date of filing ITR from July 31 to August 5
Income Tax department extends last date of filing ITR from July 31 to August 5
The Income Tax Department On Monday Giving Some Respite To Tax Payers Has Extended The Last Date Of Filing Income Tax Return For The Financial Year 2016-17 From July 31 To August 5.
News Nation Bureau | Edited By : Shashikant Sharma | Updated on: 31 Jul 2017, 04:03:12 PM
New Delhi:
The Income Tax department on Monday giving some respite to tax payers has extended the last date of filing Income tax return for the financial year 2016-17 from July 31 to August 5.
In a budget that has proved disappointing for many taxpayers, especially those who were hit hard by the covid-19 pandemic, the finance minister maintained status quo as far as the income tax slabs and other tax relief measures are concerned