Tribunal says Ola is a mere intermediary; its role is limited to managing OLA app, facilitating transport services by the driver to the rider and payment collection via e-wallet on driver's behalf
Over 1.55 lakh updated income tax returns (ITR-U) have been filed up to September 2, the income tax department said on Sunday. The income tax department had in May this year notified a form for filing updated income tax returns (ITRs). The taxpayer will have to pay an additional amount over and above the due tax while filing ITR-U. "Over 1.55 lakh Updated ITRs have been filed upto 2nd September, 2022," the I-T department tweeted. It said more than 20,000 taxpayers have filed Updated ITRs for both AYs 2020-21 and 2021-22 (2019-20 and 2020-21 fiscal years). Finance Act 2022 introduced a new provision for filing Updated Income Tax Returns under section 139 (8A) of the Income-tax Act, 1961. As per the provision, an additional 25 per cent on the due tax and interest would have to be paid, if the updated income tax return (ITR) is filed within 12 months, while the rate will go up to 50 per cent if it is filed after 12 months, but before 24 months from the end of relevant Assessment ...
On July 31, 7.24 million ITRs had been filed, shattering all previous single-day records (the maximum being 4.9 million in 2019)
SSBA Innovations, which runs tax portal TaxBuddy, has filed preliminary papers with capital markets regulator Sebi to raise Rs 105 crore through an Initial Public Offering (IPO). The IPO is entirely a fresh issue of equity shares aggregating up to Rs 105 crore, according to the Draft Red Herring Prospectus (DRHP). Proceeds of the issue to the tune of Rs 65.45 crore will be used for funding user acquisition and business development, Rs 15.22 crore for technological development and balance amount towards general corporate purpose. The company is a technology-driven financial solutions and services platform focused on providing financial solutions in the area of tax planning and filing, personal investment advisory and wealth building to individuals, HUF, professionals, firms, and companies registered on its platforms. Incorporated in 2017, SSBA Innovations owns two platforms -- TaxBuddy and Finbingo. TaxBuddy was launched in October, 2019, that offers assisted tax (ITR and GST) plan
Missed ITR 2022-23 deadline? Under section 234F of the IT Act, a late filing will be imposed on taxpayers after the due date, July 31, 2022. How many penalties should you pay?
The deadline for filing income-tax returns (ITRs) for the assessment year 2022-23 ended on Sunday
ITR is generally filed to claim the tax deductions and exemptions from the long-term capital gains, however, the benefits of filing the ITR 2021-22 before July 31 are not limited to this
As the deadline for filing ITR approaches, the demand for extending it has also grown
Under section 234F of the Income Tax Act, 1961, the taxpayer is required to pay a penalty of Rs 5,000 for delaying the ITR and filing a belated ITR
The government is not considering extending the last date for filing income tax returns as it expects most returns to come in by the due date of July 31, a top official said
Filing your income tax return on time is always the best option. We explain what happens when you file it late
Failure to do so can result in penalties for the legal heir
Individual taxpayers not having business or professional income can use this form
Filing income tax return will prove handy while applying for a loan, insurance cover, or a visa
With this, Kotak Mahindra Bank becomes one of the first private banks to be fully integrated with the new Income Tax department portal
The documents you collect for this purpose will prove handy if an assessing officer conducts inquiry
The CBDT has issued a circular pertaining to Sections 206AB and 206CCA of the I-T Act, which provide details regarding people to whom higher TDS/TCS rates should apply
Check the information therein carefully and get any error corrected before this deadline
ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) forms cater to small and medium taxpayers.
More than 5.41 crore income tax returns (ITRs) filed have been verified and 1.58 crore refunds amounting to Rs 31,857 crore for AY 2021-22 (2020-21 fiscal) have been issued