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India Business News: The income tax department announced that individual taxpayers have increased by 90% in the past 8 years, with 6.37 crore returns filed in AY 2021-22. ....
ITR Filing Deadline: The last date to file income tax returns for fiscal 2020-21 is December 31, 2021. Failing to file returns before the official deadline can attract penalties of up to Rs 5,000. ....
ITR Filing: The government extended the timelines of filing tax compliances amid COVID-19 Amid the second wave of the COVID-19 pandemic, the government, earlier last month, announced the extension of filing income tax returns (ITR) for the financial year 2020-21 by two months, till September 30. In order to provide relief to taxpayers and address difficulties faced by them during the pandemic, the Central Board of Direct Taxes (CBDT) also extended the timelines for various tax compliances under the Income-Tax Act,1961. However, the last date to file the TDS return or tax deducted at source is June 30, 2021, according to the official circular. ( ....