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Tag: income tax

Centre extends Aadhaar-PAN linkage deadline till September 30
Politics

Centre extends Aadhaar-PAN linkage deadline till September 30

The Central government on Friday extended the deadline to link Permanent Account Number (PAN) and Aadhaar card by three months, considering the pandemic situation in the country. The previous deadline was June 30, 2021. Minister of State for Finance Anurag Thakur said that the Aadhaar-PAN linkage deadline has been extended till September 30. The minister also announced measures related to tax concessions for payment towards Covid-19 treatment. Additionally, the minister said that the ex-gratia payment by one person to any other person’s family on the account of Covid-19 for 2019-20 or 2020-2021 will not be taxed. He also announced that the time to invest in residential house for tax deduction has been extended by more than 3 months. The government also extended the deadline...
Income Tax New Website: From Free Software For ITR-1, ITR-2 To Quick Returns, Check Benefits Here
Politics

Income Tax New Website: From Free Software For ITR-1, ITR-2 To Quick Returns, Check Benefits Here

New Delhi: The much-awaited new e-filing portal of the Income Tax (I-T) Department will be launched on Monday. There will be additional features in the portal including interactive software that helps in filing Income Tax Returns (ITR) preparation and a call centre for taxpayer assistance.In a statement, the Ministry of Finance said, “Free of cost ITR preparation software available with interactive questions to help taxpayers for ITRs 1, 4 (online and offline) and ITR 2 (offline) to begin with; Facility for preparation of ITRs 3, 5, 6, 7 will be made available shortly.”ALSO READ: Will El Salvador Become First In World To Make Bitcoin Legal Tender? Prez To Send Bill To CongressNew Tax Payment System To Be Launched Besides the new ITR portal, the Ministry of Finance sa...
Government extends FY21 ITR filing deadline for individuals till Sep 30
Politics

Government extends FY21 ITR filing deadline for individuals till Sep 30

The government on Thursday extended the due date of filing income tax returns for 2020-21 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31. In a circular, the CBDT said an extension of time limits is being given for certain tax compliances “to provide relief to taxpayers in view of the severe pandemic”. Also, the deadline for issuing Form 16 by empl...