ITR portal 2.0: exists many flaws, glitches, Income Tax Notice Management
Posted Date : 31-Jan-2025 , 07:29:53 pm | Posted By CASANSAAR
Flaw in ITR portal 2.0: Experts say there exists many flaws, glitches, etc with the e-filing ITR portal. Although these issues might seem small but collectively these add up to a bigger grievance. For example: When a notice under section 143(1)(a) is sent through email, only the intimation is shown....
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Deadline to declare foreign assets in ITR Ends January 15, 2025
Posted Date : 03-Jan-2025 , 07:52:35 pm | Posted By CASANSAAR
Deadline to declare foreign assets in ITR Ends January 15, 2025
Foreign assets in ITR: Indian residents must report their foreign assets and income in their income tax returns (ITRs) in accordance with the Indian Income-tax Act, 1961. The Indian government and its law enforcement agencies get det...
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ITR |
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ITR filing deadline on July 31 - Will Govt extend last date to file tax return?
Posted Date : 23-Jul-2024 , 08:21:53 am | Posted By CASANSAAR
With the July 31 deadline for filing income tax returns rapidly approaching, taxpayers across the country are in a rush to complete their filings.
The Income Tax Department’s website shows that 3.58 crore ITRs have been filed as of July 19, marking an 11% increase compared to the same perio...
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ITR |
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ITR 2, ITR 3 & ITR 5 for AY 2024-25 Released by CBDT
Posted Date : 02-Feb-2024 , 08:42:29 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Form 2 and 3 for the Assessment Year 2024-25. Rule 12 has been amended to allow individuals and HUF, who are liable to tax audit under section 44AB, to verify return of income through electronic verification code.
The Central...
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ITR |
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Record 8.18 Cr ITRs (Income Tax Returns) filed so far in current financial year
Posted Date : 02-Jan-2024 , 08:34:24 am | Posted By CASANSAAR
A record eight crore 18 lakh Income Tax Returns, ITRs were filed in the current financial year till Sunday. This is nine per cent more than the total ITRs filed in the last fiscal. According to Central Board of Direct Taxes, around 7.5 crore ITRs were filed last year during the same period.
Finan...
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Average Processing time of Income Tax Returns (ITR) reduced to 10 days
Posted Date : 07-Sep-2023 , 08:51:24 am | Posted By CASANSAAR
Average processing time of Income Tax Returns (ITR) has reduced to ten days in the Assessment Year 2023-24. Average processing time of ITR was 82 days in the Assessment Year 2019-20, and 16 days in Assessment Year 2022-23.
Income Tax Department said, it is committed to process the ITR in a ...
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CBDT processed 88 percent ITR, refunds over Rs 2.45 Cr issued till Sep. 5
Posted Date : 06-Sep-2023 , 08:53:59 am | Posted By CASANSAAR
The Income Tax Department has processed refunds of over Rs 2.45 crore for 6.84 crore verified Income tax returns (ITRs), bringing down the average processing time to 10 days for the assessment year 2023-24
“The department’s efforts to provide seamless and expeditious taxpayer services...
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Over 4 Cr ITRs filed for FY23 so far, 7% new filers this time - CBDT
Posted Date : 25-Jul-2023 , 07:57:16 am | Posted By CASANSAAR
More than four crore income tax returns (ITRs) for the 2022-23 financial year have been filed so far and about 7 per cent of these are new or first-time filers, CBDT chairperson Nitin Gupta said on Monday.
He said that more than half of these ITRs have been processed leading to 80 lakh refunds ti...
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Over one cr Income Tax Returns filed till 26th June, 2023
Posted Date : 28-Jun-2023 , 07:03:35 am | Posted By CASANSAAR
Over one crore Income Tax Returns have been filed till 26th of this month. This milestone was reached 12 days early this year compared to the corresponding period in the preceding year. Last year, one crore ITRs were filed till 8th of July.
The Income Tax Department has reiterated its commitment ...
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ITR |
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5% more income tax returns filed this year - Income Tax Department
Posted Date : 13-Jan-2021 , 08:38:56 am | Posted By CASANSAAR
Income tax returns filed this year have risen by about 5 per cent to nearly 6 crore as more businesses and entities filed annual income statements.
Over 5.95 crore income tax returns (ITRs) for the fiscal year ended March 31, 2020 (2019-20) were filed by January 10, the Income Tax Department said...
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Over 4.84 Cr income tax returns for 2019-20 filed till Dec 31
Posted Date : 02-Jan-2021 , 10:14:05 am | Posted By CASANSAAR
Over 4.84 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till December 31, 2020, the Income Tax Department said on Friday.
The government has extended the ITR filing deadline for individuals till January 10, and for companies till February 15.
'Over 4.84 crore Inco...
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CBDT extends due date for filing ITRs for AY 2019-20 to 30.11.2020
Posted Date : 30-Sep-2020 , 06:12:30 pm | Posted By CASANSAAR
On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs for Assessment Yr 2019-20 from 30th September, 2020 to 30th November, 2020.Order u/s 119(2a) issued.
https://twit...
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ITR |
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Taxpayers not required to disclose high-value transactions in ITR
Posted Date : 18-Aug-2020 , 09:50:54 am | Posted By CASANSAAR
Taxpayers will not be required to mention their high-value transactions in their income tax returns, officials in the know of the development said.
"There is no such proposal to modify income tax return forms," an official said, responding to reports of the proposed expansion of reporta...
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CBDT asks taxmen to process ITRs filed up to AY 2017-18 with refund claims by October 31
Posted Date : 11-Jul-2020 , 10:09:14 am | Posted By CASANSAAR
The income tax department on Friday asked officers to process returns filed up to the assessment year (AY) 2017-18 with refund claims by October 31, 2020.
In an order, the Central Board of Direct Taxes (CBDT) extended the time given to the tax officers to process such returns, which were not pick...
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Due date for filing ITRs extended to 30th Nov.2020
Posted Date : 13-May-2020 , 05:42:41 pm | Posted By CASANSAAR
Due date of all income-tax return for FY 2019-20 will be extended from July 31, 2020 & October 31, 2020 to November 30, 2020 announced by FM Nirmala Sitharaman.
...
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6.35 Cr ITRs e-filed till mid-February in FY 20
Posted Date : 03-Mar-2020 , 10:20:41 am | Posted By CASANSAAR
As many as 6.35 crore income tax returns have been filed electronically till mid February this fiscal, up from 6.28 crore in 2018-19, Parliament was informed on Monday. In a written reply to a question in the Lok Sabha, Minister of State for Finance Anurag Singh Thakur said the number of assessees f...
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ITR forms may come pre-filled with capital gains, dividend, interest income
Posted Date : 07-Feb-2020 , 09:54:08 am | Posted By CASANSAAR
The government is likely to introduce pre-filled Income-Tax Return (ITR) forms for taxpayers with data on their capital gains from mutual funds, shares, dividend income and interest received from banks. Worth mentioning here is that the government has already introduced amendments to the Income Tax ...
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CBDT grants relaxation in eligibility conditions for filing of ITR-1 and ITR-4 form
Posted Date : 09-Jan-2020 , 09:25:31 pm | Posted By CASANSAAR
In order to ensure that the e-filing utility for filing of return for assessment year (A.Y) 2020-21 is available as on 1st April, 2020, the Income-tax Return (ITR) Forms ITR-1 (Sahaj) and ITR-4 (Sugam) for the A.Y 2020-21 were notified vide notification dated 3rd January, 2020. In the noti...
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Income tax dept creates world record with filing of 49 lakh ITRs in one day
Posted Date : 02-Sep-2019 , 07:28:48 am | Posted By CASANSAAR
Income Tax department today said it created a sort of world record by achieving a record Income Tax Return filing in a single day.
"The department made a history with an all time high record of 49 lakh 29 thousand ITRs filed in a single day on August 31," Central Board of Direct T...
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Income Tax department launches new way of making ITR e-verification
Posted Date : 09-Aug-2019 , 08:16:32 am | Posted By CASANSAAR
To ease e-verification process of income tax returns (ITR), the Income Tax department has now launched a new facility on its e-filing portal. Taxpayers can e-verify their ITR without even logging in to the e-filing website.
On the Income Tax e-filing website, you can see a new 'e-verify retur...
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Income Tax dept will now pre-fill your salary, TDS details on ITR-1
Posted Date : 29-Jun-2019 , 09:19:36 am | Posted By CASANSAAR
To make the tax filing process easier for individuals, this year the tax department will be providing ITR-1 pre-filled with your salary, FD interest income and TDS details.
Earlier, these details were required to be manually entered by individual in the form. These details will be pre-fille...
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SC allows SFIO to reopen and recast IL&FS accounts for last five years
Posted Date : 05-Jun-2019 , 09:46:59 am | Posted By CASANSAAR
The Supreme Court on Tuesday allowed the Serious Fraud Investigation Office (SFIO) to reopen and recast the accounts of Infrastructure Leasing & Financial Services (IL&FS) and two of its key subsidiaries of five years starting 2012-13 (FY13). The order came on a plea moved by the Ministry of...
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ITR 1, ITR 2, ITR 3 & ITR 4 for AY 2019-20 is available for e-Filing
Posted Date : 11-May-2019 , 08:39:49 am | Posted By CASANSAAR
Excel / Jav Utility for ITR 1, ITR 2, ITR 3& ITR 4 for AY 2019-20 is available for e-Filing. Other ITRs will be available shortly.
ITR 1 For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House P...
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ITR 1 & ITR 4 is available for e-Filing for AY 2019-20
Posted Date : 10-Apr-2019 , 10:09:09 am | Posted By CASANSAAR
ITR 1 is For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs. 5 thousand (Not for an Individual who is either Director in a company ...
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Govt wants taxpayers to disclose more info in new ITR forms
Posted Date : 07-Apr-2019 , 10:21:31 am | Posted By CASANSAAR
Individuals and businesses have to disclose more details of professional and residential status, as well as their income, while filing income tax returns (ITRs) for 2018-19, according to the new forms notified on Thursday night by the income tax department. The aim is to increase transparency and na...
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Filing of Income Tax Returns registers an upsurge of 71% upto 31st August,2018
Posted Date : 01-Sep-2018 , 11:08:15 am | Posted By CASANSAAR
There has been a marked improvement in the number of Income Tax Returns(ITRs) filed during FY 2018 (upto 31/08/2018, the extended due date of filing) compared to the corresponding period in the preceding year.
The total number of ITRs e-filed upto 31/08/2018 was 5.42 crore as again...
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Extension of date for filing of Income Tax Returns for taxpayers in Kerala
Posted Date : 29-Aug-2018 , 08:23:40 am | Posted By CASANSAAR
In view of the disruption caused due to severe floods in Kerala, the Central Board of Direct Taxes (CBDT) hereby further extends the “Due Date” for furnishing Income Tax Returns from 31st August, 2018 to 15th September, 2018 for all Income Tax assessees in the State of Kerala, who were l...
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Income Tax Return date can be extended for two more weeks
Posted Date : 26-Jul-2018 , 11:19:29 am | Posted By CASANSAAR
AS per news of Zeebiz, Last date for filing Income Tax Return date can be extended for two more weeks. Annoucement will come in 1-2 days and it can be extended to 10-15 days as per CBDT Sources.
This is only information from ZeeBiz and wait for official announcement / notification of CBDT.
Bel...
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ITR |
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Delhi HC directed CBDT to Allow people to opt out of Aadhaar-PAN linkage for ITR filing
Posted Date : 26-Jul-2018 , 08:55:19 am | Posted By CASANSAAR
The Delhi High Court has allowed two individuals to file their income tax returns without having to furnish an Aadhaar number or link their Aadhaar with PAN; and has directed the Central Board of Direct Taxation (CBDT) to amend the income tax return form to enable an “opt out” button fro...
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Taxpayer can file revised return after notice issued by I-T Dept - ITAT
Posted Date : 22-Jun-2018 , 08:20:08 am | Posted By CASANSAAR
A tax benefit claimed by a taxpayer in his revised income-tax return cannot be denied outright by an income-tax (I-T) officer merely because the revised return has been filed after issue of notice, income-tax appellate tribunal (ITAT) has said.
However, the revised return needs to be filed within...
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