Tag: Income Tax

Rule 12 -Return of income and return of fringe benefits. 12. (1) The return of income required to be furnished under sub-section (1) or sub- section (3) or sub-section (4A) or sub-section (4B) or sub-section (4C) or sub-section (4D) or sub-section (4E)or sub-section (4F) of section …

Income Tax Released Job Openings On 10/02/2023.The Income Tax Department is a government agency undertaking direct tax collection of the government of India. It functions under the Department of Revenue of the Ministry of Finance.Eligibility Criteria / Educational Qualification, Official Notification, Apply Online Form Link & …

Income Tax Dept Released Job Openings On 23-09-2021.The Income Tax Department (also referred to as IT Department or ITD) is a government agency undertaking direct tax collection of the Government of India. It functions under the Department of Revenue of the Ministry of Finance..Eligibility Criteria / …

In the Union Budget 2021, the finance minister Nirmala Sitharaman announced that senior citizens above the age of 75 years, who only have pension and interest as a source of income will be exempted from filing the income tax returns. During the budget speech, Sitharaman said, …

Taxpayers need to keep in mind high-value transactions they made while filing their income tax returns. The income tax department is using analytics to scrutinize data to find out people who have not filed income tax returns (ITR) or under-reported income despite doing a high-value transaction. …

Now the due date for ITR filing has extended to 31st December 2020, it would be advisable to file the tax returns for the financial year (FY) 2019-20 or AY 2020-21 as soon as possible, to avoid the last-minute rush. Following points to consider before filing …

Judgement: The Bombay High court while quashing the notices issued under Section 148 of the Income Tax Act to State Bank of India (SBI) held that no notice of reassessment can be issued after 4 years of assessment, if the assessee has fully and truly disclosed …