Filing of Income Tax Return for FY 2017-18 i.e. AY 2018-19 Kindly note that for Salaried/Non-Corporate Assessee whose accounts are not required to be audited, the last date of filing Income Tax Return is 31st July, 2018. and for Company Assessee or Assessee required to undergo audit under income tax...
From this year the flexibility in filing tax returns has reduced. Now, if you don’t file the return for financial year 2016-17 by 31 March, you may face scrutiny and penalty If you are among those taxpayers who have not yet filed their income tax return (ITR) for the financial year 2016-17, or the...
Income Disclosure Scheme – Effective Tax Rate is 45% only (not 31%) Effective Tax Rate is 45% only (not 31%) under Income Disclosure Scheme 2016 CBDT has clarified in Q No. 6 of Circular 27 of 2016 dated 14th July 2016 that the tax rate will be 45% only and tax has to be paid […]
Court dismisses charges against Sony, after it is revealed Ricky Martin was coerced in giving false statement against Sony Music (India) Ltd by IT Department officials Officials of the Income Tax department have been left red-faced because of a letter written by Latin singer Ricky Martin, in which h...
The Special Judge, CBI Cases, Dehradun has today convicted Shri Dinesh Kumar, then Income Tax Officer, Pithoragarh (Uttarakhand) in a bribery case and sentenced him to undergo seven years Rigorous Imprisonment with fine of Rs.1.5 lakh. CBI had registered a case on the allegations that Shri Dinesh Ku...
No filing or Late filing of TDS returns or TDS statement shall invite two penal consequence, one Fee for late filing of TDS Return U/s 234E and second Penalty for late filing or Non filing of TDS statement U/s 271H. Fee U/s 234E for late filing of TDS Statement: If you filed late income tax retu...
