Best ways to save income tax: 10 tax-saving investment option for you Read More Budget 2024: Higher employers’ NPS contribution limit, tax-free annuity income on the wish-list Read More ITR Filing FY2022-23: Do you need to revise your income tax return (ITR)? Find out here ...
Starting from the first day of April, taxpayers can file their ITRs for AY 2024-25, which is relevant to the FY 2023-24. View more03rd April 2024The Income-tax notification no 2/2024 is released for verification of the time limit of the income tax return after uploading on the portal....
(iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction; (b) the acknowledgement of the return shall be deemed to be the intimation in a case where no sum is payable by, or...
The CBDT has extended the due date of filing ITR for the auditable entities for the A.Y. 2022-23 to 7th November, 2022 to give effect to consequential extension in the due date of filing audit report till 7th October, 2022. Time limit for e-verification of ITR reduced to 30 days from...
The tax filing due date for all non-audit ITRs is 31 July of the relevant assessment year (AY), unless the government extends the date. However, there are two exceptions. Original ITR Section 139(1): A tax return filed on or before July 31 is termed as original ITR. ...
Excess tax refund claims rejected on time limit, High Court allows explanation for delay. November 6, 2024 Case Laws VAT / Sales Tax Partial GST refund allowed; remaining claim remanded for fresh adjudication on unjust enrichment. ...
For the AY 2023-24, more than 30.75 lakhs audit reports, (including about 29.5 lakhs tax audit reports) were filed on the income-tax portal till 30 September 2023. Those entities with transfer pricing applicable have time till 30 October 2023 to submit the tax audit reports. Subject matter ...
The assessee has to pay income tax if his total Income after allowing Chapter VI-A Deduction is more than the taxable income limit.Due Dates of ITR for Different Categories of Taxpayers for FY 2023-24 (AY 2024-25)Category of TaxpayerDue Date (Original Return) Company (whether tax audit ...
The audit of a proprietorship is contingent upon its annual turnover and certain other circumstances. Three specific scenarios warrant the need for an audit: Turnover exceeding Rs 1 crore:An audit is mandatory if the proprietorship firm’s annual turnover exceeds Rs 1 crore during the assessment...
31/2023 dated 24th May 2023 has notified INR 25,00,000/- as exemption limit U/s 10(10AA) with regard to Leave Encashment ... INCOME TAX Avoid Mistakes While submitting ITR’s For AY24 RJA 27 May, 2023 Avoid Mistakes While submitting ITR’s For AY24 Despite the fact that ITR e...