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For making the e-Filing portal, user-friendly, The Income Tax department has come up with a new e-Filing portal (ITR e-filing 2.0) which will be effective from 7thJun, 2021. The new web address of the e-Filing portal will be The Income Tax India e-Filing portal is…
Now, Businesses with an annual turnover of up to Rs 40 lakh are GST exempt. Initially, this limit was Rs 20 lakh. Additionally, those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay…
The Sovereign Gold Bond (SGB) scheme 2020-21- Series V, issued by RBI is open for subscription from 03 Aug 2020 to 07 Aug 2020. The issue price of Series V has been fixed at Rs 5,334 per gram of gold,…
Ministry of Finance has issued a press release that states that IT Department is working very fast to complete all Faceless e-Assessments by mid-September. The IT Department in October 2019 rolled out the faceless e-assessment scheme that eliminates physical interface…
CBDT has extended the due date for filing of ITR (Income Tax Returns) for FY 2018-19 (AY 2019-20) by 2 months i.e. from 31st July 2020 to 30th September 2020, vide Notification in S.O. 2512 (E) dated 29th July 2020.…
The Income Tax (IT) Department is going to start an e-campaign on voluntary compliance of Income Tax for the convenience of taxpayers from 20th July, 2020, the 11 days campaign ending on 31st July, 2020 focuses on the assessees/taxpayers who…
CBDT recently brought out the new form 26AS for ease of filing of Income Tax Returns (ITRs) by taxpayers. The new form is a faceless hand-holding of taxpayers, to help them with updated financial transactions, so as to facilitate voluntary…
At the 43rd Annual general meeting of Reliance Industries Limited, It’s Chairman Mukesh Ambani announced that Alphabet’s Google will invest 33,737 Crore in Jio Platforms for a 7.7 per cent. This development comes just 2 days after the Google announced that…
ITR Filing: ITR 1& ITR 4 Forms for AY 2020-21 has been released. ITR Filing for AY 2020-21: The CBDT (Central Board of Direct Taxes) had recently notified the Income Tax Return (ITR) Form 1 to 7 for the assessment…
The Income Tax Department has amended the TDS rules 1962, making it more detailed and mandatory on the deductors side to state the reason for Non-deduction or less deduction of Income tax. In the budget 2019-20, the Central government had…