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ITR Filing Deadline: Government extends deadline to file I-T returns by 10 days | India Business News

(Representative image)
NEW DELHI: After intense lobbying by chartered accountants and tax professionals, the government has granted a fresh extension to those who have not filed their returns, citing Covid-19 as the reason.
A majority of individual taxpayers, who were earlier required to file their returns by December 31, have been given another 10 days till January 10 to comply with the statutory requirement, for which the original deadline was July 31.
The deadline for making declarations under the ‘Vivad se Vishwas’ scheme has also been extended up to January 31. Further, I-T returns for tax audit assessees can be filed up to February 15.
In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19… https://t.co/sabAefM1qe Income Tax India (@IncomeTaxIndia) 1609331632000 ....

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Faceless schemes of direct taxes creating more problems than resolutions

Faceless schemes of direct taxes creating more problems than resolutions
December 29, 2020
Stakeholders find too many gaps in the faceless assessment and faceless appeal
The government’s Faceless Assessment Scheme (FAS) for direct taxes seems to be creating more problems than resolutions.
“The scheme was launched with good intentions, but now that aim appears to be going off the track,” said Vinod Jain, a chartered account and Member of Finance Ministry’s High Powered Committee to Simplify Income Tax Law, and also one of the architects of FAS.
He told
BusinessLine that denial of opportunity to be heard is against the principle of natural justice, especially when decisions are not in favour of assessees. ....

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What Should You Do With Mutual Fund Investments When Fund Manager Or CIO Quits?

What should you do with mutual fund investments when fund manager or CIO quits?
If your fund house lacks processes and over-relied on the individual fund manager, then it might be the time to move your mutual fund investments
December 28, 2020 / 01:36 PM IST
After spending 12 years at SBI Mutual Fund (MF) as its chief investment officer (CIO), Navneet Munot resigned from his role last month. He will be joining HDFC MF as its new managing director and chief executive officer, in the place of Milind Barve.
Over the years, many fund houses have sharpened and institutionalised their process of how they pick stocks and sectors. Yet the human element cannot be ruled as these are actively-managed funds. And the buck stops at the CIO’s table who heads the investment team. So, when a CIO or fund manager leaves, how much does your scheme get impacted? ....

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ਆਸਾਂ ਦੀ ਉਡਾਰੀ: ਕਿਸਾਨੀ ਸੰਘਰਸ਼ ਨੇ ਜਵਾਨੀ ਨੂੰ ਦਿਖਾਇਆ ਨਵਾਂ ਰਾਹ

ਆਸਾਂ ਦੀ ਉਡਾਰੀ: ਕਿਸਾਨੀ ਸੰਘਰਸ਼ ਨੇ ਜਵਾਨੀ ਨੂੰ ਦਿਖਾਇਆ ਨਵਾਂ ਰਾਹ
punjabitribuneonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punjabitribuneonline.com Daily Mail and Mail on Sunday newspapers.

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