New ITR filing deadlines: Form 16 delayed, Income tax filing due date extended and more
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Income tax filing: The deadline for companies and firms whose accounts are to be audited is 31 October.
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Amid, the severe Covid-19 pandemic, the income tax (I-T) department has extended the I-T return filing deadline for 2020-21. The extension in timelines will help ease the pressure in the minds of taxpayers. Archit Gupta, Founder and CEO - ClearTax says that these relaxations will reduce the compliance burden for businesses that have been struggling in the current crisis. The extension of due dates for various compliances for employers as well extension of tax filing due date for taxpayers is important in the current situation as the second wave of covid is raging through several states in India, Archit Gupta said.
India Business News: The income tax (I-T) department on Wednesday said it has issued Rs 25,301 crore-worth refunds to more than 15.45 lakh taxpayers so far this fiscal. Ou
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I-T Deptt launches offline utility for ITR 1, 4
The Income Tax Department has launched the offline utility for taxpayers filing ITR - 1 and 4 for 2020-21 fiscal year. The offline utility is available on the e-filing portal and is based on new technology âJSONâ (JavaScript Object Notation), which is a light weight format for storing data.
The offline utility can be downloaded on computers with operating system Windows 7 or later versions.Â
âThis Offline Utility is enabled only for ITR-1 and ITR-4. Other ITRs will be added in the utility in subsequent releases,â the department said, while releasing the step-by-step guide for its filing.Â
New income tax rules from April 1: Key things to know
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New income tax rules from April 1: Key things to know
TIMESOFINDIA.COM / Apr 1, 2021, 10:02 IST
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NEW DELHI: Union finance minister Nirmala Sitharaman announced a slew of changes in her Union Budget 2021 presentation. The changes will come into effect from April 1, 2021. Here s a look at the changes announced in budget:
Choose between New tax regime and Old tax regime: The government had implemented the new tax regime last year in budget 2020. The process exercise of choosing one of the tax regimes for the financial year 2020-21 (FY21) will be required to be made starting from April 1, 2021. Taxpayers will be able to opt for a beneficial regime at the time of filing their tax returns for FY21.