Filing an ITR is not just a legal requirement but also provides detailed information on your income and taxes paid during the financial year. Failure to file by the due date attracts a late fee of ₹ 500 per month, up to a maximum of ₹ 1,000....
Section 115BAC of the Finance Act 2020 introduced a choice between the old and new tax regimes for the ITR forms. Assessee who chooses to pay tax in accordance with the new tax regime needs to submit Form 10IE to the ITR department before filing their ITRs. Also, if the assessee choose...
Should your interest income surpass the exemption threshold, TDS will be subtracted at the going rate, which is at 10%. If, however, your total taxable income is less than the designated thresholds, you can avoid TDS by filing Form 15G or 15H. How to apply for a waiver on your TDS o...
A senior tax consultant CA Kirti Joshi addressed filing GST returns presents the final opportunity to rectify any errors caused during the annual return for the year 2022-23. It is crucial to consider the income tax return while submitting GST returns, as both departments are now exchanging ...
Complete the compliance loop by filing your Income Tax Return (ITR) with the Income Tax Department, meticulously detailing your income, deductions, and tax payments. The Art of Calculation: A Real-Life Example Consider Mr. Toni, a non-government employee with a monthly salary of Rs. 25,000,...
department, the New Delhi ITAT, on Tuesday, reversed the decision, directing the assessing officer to allow claimed deduction on the grounds thatfiling of audit report with Form 10CCBbefore the due date for filing of income tax return u/s 139(1) of the IT Act, 1961 is optional an...
In case of ITR for Accounting Year 2015-16 the last date for the tax filing is 30 June 2016. Extended dates are yet to be declared. Paying the tax after the due dates are going to be with extra tax fees. But you can do the same....
Note: If the Cebuana Lhuillier branch you visited is a very busy branch with lots of Happy Loan applications, the processing time may be extended. If you are approved, you will receive a txt message with your loan release code, Cebuana will also call you to advise the same. IMPORTANT: Ma...