CBDT has extended the due date of Income Tax return filing by a month to 31st August 2018 from present 31st July, 2018. The following statement has been released by the Twitter handle of Minister of Finance. “Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the ‘Due Date’ for filing […]
There is hardly 3 weeks left and the date date for filing the income tax return is fast approaching. This time the last date shall not be take lightly as a new section has been introduced i.e. 234F where late fees upto Rs. 10,000 will be levied. (Refer the link) There are broadly around 8 […]
The Income Tax department has come up with an ‘instant’ Aadhaar-based PAN allotment service for individuals who wish to obtain the unique identity for the first time. A fresh PAN will be allotted on the basis of a one-time password (OTP) sent over the “active mobile number” linked with the valid Aadhaar number of an individual, […]
New ITR Forms notified for the Financial Year (FY) 2017-18 The CBDT has notified the ITR forms for the Assessment Year (AY) 2018-19 well in advance so that the assessee must file their return well before the due date. The forms have been notified on 5 April 2018. Although the return filing will actually begin […]
Due dates for filing the ITR for the Financial Year 2017-18 is round the corner and this time very stringent section 234F for imposing late fees/penalty has been invoked to cause the assessee to file the income tax return well within the time frame. Below is the summary of penalty that will be imposed in […]
