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What to expect after filing returns Be on the lookout for intimations from the Tax Department Arjun filed his income-tax return (ITR) in July 2020 by himself, paid the taxes due and was so delighted that he had discharged his civic responsibilities that he added the ‘Proud Filer’ badge to his Facebook profile. In January 2021, he received a demand of ₹5 lakhs for not responding to several notices received from the tax department. He approached his tax adviser, Krishna who guides him on the general steps to be taken after filing the ITR. Arjun: What is the first thing I should do once

Synopsis As per a government press note in 2012, if the amount of income tax refund or tax payable is this much, then you are neither liable to pay such tax demand amount nor will you receive such refund amount in your pre-validated bank account. Getty Images Sec 143 (1) notices sent by the income tax department to taxpayers after processing their returns also indicate the above in cases where there is a refund or tax demand of less than Rs 100. Did you get an intimation from the income tax department after processing of your income tax return, for a tax demand or tax refund amount of less th...

Updated Dec 31, 2020 | 08:34 IST The new deadline for filing income tax return for AY21 was extended from December 31, 2020, to January 10, 2021 Deadline for ITR filing extended to January 10: Five things to remember  |  Photo Credit: BCCL The Central Board of Direct Taxes  (CBDT), on Wednesday, extended the due date for furnishing Income Tax Returns (ITR) for the Assessment Year 2020-21 (AY21) for the income earned in the financial year 2019-20 by ten days. The new deadline for filing income tax return for AY21 was extended from December 31, 2020 to Januar...

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