Income tax department has issued the Income tax return for FY 2016-17 i.e. for AY 2017-18 well on time and same can be downloaded for filling ITR for period 1st April 2016 to 31st March 2017. For Financial Year 2016-17 department has merged the different ITR and numbering of ITR has been changed and after… Read More »
Due Date for Filling Income Tax Return for year ending 31st March 2017 i.e. FY 2016-17 or AY 2017-18 is 31st July 2017 without any fine or penalty for Individual/HUF/Firm/LLP not required to be audited under the Income Tax Act and for person under Audit due date of filling Income Tax Return & Tax Audit… Read More »
Income Tax Rule 30 prescribes the due dates for deposit of TDS i.e. time and mode of payment of tax deducted at source to the account of Central Government. Prescribed time of payment/deposit of TDS to the credit of Central Government account is as under: In case of an office of Government: Sl No. Description Time… Read More »
If a person fails to deduct the whole or any part of the tax at source or after deducting, fails to pay the whole or any part of the tax to the credit of the Central Government within the prescribed time, he shall be liable to action in accordance with the provisions of S. 201 and shall be deemed… Read More »
IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CASE NO. CWP No.19770 of 2015 related to Extension of Date for Filing of Tax Audit Report and Income Tax Return under Income Tax Act. Date of decision: 29/09/2015 Name of Petitioners: Mr Vishal Garg and others and Respondents: Union of India and another Judgement by… Read More »
List of Banks authorized by Income Tax Department for collecting E-Payment of Income Tax .i.e. Online Collection of Advance Income tax, Tax Deducted Source (TDS) and Self Assessment Tax under Income Tax Act through NSDL. Total 30 Indian Banks have been empanelled for online Tax Collection for Payment of TDS on Sale of Property (Form 26QB), Tax Deducted… Read More »
There are different due dates under income tax for payment of TDS/TCS/ filing of TDS/TCS return, for filing of income tax return, and for advance payment of tax. 1) Payment of TDS/TCS – for every assessee who is required to deduct TDS/TCS under the provision of Income tax Act, 1961 has to pay amount of… Read More »