Income Tax & TDS: Updates

Patna High Court: In a petition alleging Section 234E of the Income Tax Act, 1961 to be unconstitutional, ultra vires and in contravention of the Constitution of India, Division Bench of Sanjay Karol, CJ., and S. Kumar, J., disposed of the petition refuting all the said allegations and upholding Section 234E as constitutionally valid. Two fold […]

The 30 September deadline for filing belated or revised income tax returns (ITR) for assessment year 2019-20 (financial year 2018-19) is fast approaching. Belated ITR is the one filed after the due date, which is generally 31 July of any assessment year. For FY19, the due date of filing ITR was 31 August and the assessment year

Prime Minister Narendra Modi launched a platform to honour the honest taxpayers of the country. The unveiling took place at 11 am via video conferencing. The “Transparent Taxation – Honoring The Honest” platform will initiate major tax reforms aimed at bringing transparency in income tax systems and empowering taxpayers, according to the government. This is

The government on Wednesday extended the deadline for filing income tax returns for 2018-19 fiscal by two months till September 30. “In view of the constraints due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due date for filing of Income Tax Returns for FY 2018-19 (AY 2019-20) from

For the opening of Sukanya Samriddhi Yojana accounts, some relaxation in the eligibility norms has been announced by the government because of the coronavirus lockdown. The account may be opened on or before July 31 in the name of a girl child, aged 10 or above, according to the latest guidelines from the postal department.