Any return filed under section 139(4A), 139(4B), 139(4C) or 139(4D) needs to be filed on or before 31st october of the relevant assessment year. however, in any other case, the due date for filing a return of income would be the 31st of July of the relevant assessment year. Due date of filing return of…
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 20th June, 2022 PRESS RELEASE Income Tax Department conducts searches in Tamil Nadu Income Tax Department carried out search and seizure operations on 15.06.2022 on a leading industrial group of Chennai, engaged in the business of manufacturing of IMFL,…
Income tax slab rates for FY 2021-22 (AY 2022-23) New tax regime & Old Tax regime Income Tax Slab (In Lacs) Existing Regime Slab Rates for FY 20-21 (AY 21-22) New Regime Slab Rates for FY 20-21 (AY 21-22) Resident Individuals & HUF < 60 years of age & NRIs Resident Individuals & HUF >…
List of ITR Form Applicability Salary Exempt Income Capital Gains House Property Business Income Other Sources ITR 1 Resident Indian individuals and HUFs Yes Yes. However, income from agriculture cannot be more than Rs. 5,000. No Yes. However, it can be only for one house property. No Yes ITR 2 HUFs and individuals Yes Yes…
Order by Income-tax Officer 210. (1) Where a person has been previously assessed by way of regular assessment under this Act or under the Indian Income-tax Act, 1922 (11 of 1922), the Income-tax Officer may, on or after the 1st day of April in the financial year, by order in writing, require him to pay to…
Subject; – Extension of time line for electronic filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of the Income-tax Act,1961 (the Act) — reg. On consideration of difficulties in electronic filing of Form No.10AB as stipulated in Rule 2C or 11AA or 17A of the Income-tax Rules, 1962…
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 17th June, 2022 INCOME-TAX G.S.R. 458(E).—In exercise of the powers conferred by section 295 read with sub-section (2) of section 92CB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules…
Automatic vacation of stay granted by ITAT after the expiry of 365 days is unconstitutional: SC Case Details: DCIT V/s Pepsi Foods Ltd. The Supreme Court has held that the object of the third proviso to Section 254 (2A) is an automatic vacation of a stay that has been granted on the completion of 365…
THE INCOME-TAX ACT, 1961 CHAPTER I PRELIMINARY Short title, extent and commencement. Definitions. Previous year‖ defined. CHAPTER II BASIS OF CHARGE Charge of income-tax. Scope of total income. 5A. Apportionment of income between spouses governed by Portuguese Civil Code. Residence in India. Income deemed to be received. Dividend income. Income deemed to accrue or arise…
