Income Tax

The federal government has introduced extension within the numerous tax associated compliance dates, together with the due date of submitting Earnings Tax Return. As a result of disruption in financial and monetary actions after the lockdowns and different restrictions imposed to counter the second Covid wave, the federal government has introduced extension within the numerous

Within the final two years the federal government has come out with an amnesty scheme for excise and repair tax adopted by “Vivad de Vishwas” scheme for settling direct tax disputes. Allow us to let you know one attention-grabbing reality — The federal government is planning to supply tax reduction to Work from Residence workers.

The federal government is being requested to amend the provisions of the Earnings tax Act, 1961 to supply the reduction to the sincere taxpayers. The Covid-19 pandemic has not solely left scores of individuals jobless, but additionally hit the employers of many organisations – particularly engaged in manufacturing and provide of important commodities – as

The brand new e-filing portal will probably be built-in with rapid processing of Earnings Tax Returns. The Earnings Tax Return (ITR) submitting course of is paused for six days after scrapping of the e-filing web site – incometaxindiaefiling.gov.in – from the midnight of Might 31, 2021. The submitting course of will resume from June 7,

Assuming that your complete earnings includes solely this STCG, which is lower than the essential exemption restrict, (i.e. Rs 2.5 lakh), you don’t want to file a Return of Revenue in India. I booked a flat 5 years in the past and paid the instalments from my financial savings and capital positive factors from promoting