The date for filing income tax has been extended till January 31, 2020 in Jammu and Kashmir. The Central Board of Direct Taxes (CBDT) made the deadline extension for all kinds of income tax returns in the newly-created UTs of Jammu and Kashmir, and Ladakh.
The Central Board of Direct Taxes (CBDT) has extended the due date for filing of ITRs & Tax Audit Reports to October 31.
Over 1.46 crore income tax returns have been filed so far, of which 90.8 lakh have been filed by individuals with total income up to Rs 50 lakh.
July 31 is the last day for filing income tax return. You can file ITR online through income tax's e-filing ITR website. This year, the government has introduced many changes in ITR form. It is important to know the changes before filing ITR to avoid any unwanted penalty later on.
According to the Union Budget for 2019-20, filing of returns has been made compulsory for those who deposit more than Rs 1 crore in a current account in a year, spend more than Rs 2 lakh on foreign travel or have an annual electricity bill of more than Rs 1 lakh. The official data reveals 6.86 crore income tax returns (ITRs) were filed in 2017-18 registering a growth of 23 per cent over the previous year.
Do you know the government reserves the right to take legal action against you over the failure to file ITR?
Data analysis has identified "several potential non-filers" who have carried out high value transactions in 2017-18 but have still not filed returns for AY 2018-19, CBDT said.
The Central Board of Direct Taxes (CBDT) had received representations from stakeholders seeking extension of the last date for filing of returns by taxpayers whose accounts have to be audited.
The total number of ITRs e-filed up to August, 2018, was 5.42 crore as against 3.17 crore up to August 31, 2017, marking an increase of 70.86 per cent.
The total number of ITRs filed by the taxpayers during the current financial year stands at 5,29,66,509, officials said.
In reply to the tax notices, most of the people said that they did not make any cash payment, but this version does not corroborate with the data obtained by the IT Department vis-a-vis the sales made by the firms of Nirav Modi.
Here is a short list of eight key tax filing related considerations and precautions that would help you in ensuring the accurate filing of your taxes in for the Assessment Year 2018-19.
It also cautioned eligible trusts, political parties and associations to file their income tax returns by this final deadline and "come clean".
The e-filing of income tax returns (ITRs) went up by 17 per cent post demonetisation, while the rise in the 'individual filers' category was over 23 per cent.
New Delhi: The controversial new income tax return forms, which had been put on hold, will be "far more simplified", Finance Minister Arun Jaitley said today, but kept the suspense on if the requirement of
New Delhi, July 31: The government on Wednesday extended the last date for filing of income tax returns by five days to August 5.The due date, which was July 31, has been extended in wake
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