When you file a belated income tax return, you need to pay a late filing fee and penal interest on any taxes you owe. Here's what you need to know about filing a belated income tax return in simple English.
TDS returns are quarterly statements that every deductor is required to submit. These returns contain information about the tax deducted at source, the PAN numbers of the deductees, particulars of the tax collected, and details of the tax paid to the government, along with the TDS challan or receipt numbers.
Income Tax Return (ITR) is a form used to declare an individual's or entity's income and taxes paid or owed to the government during a financial year.
According to the Income Tax Department, if you forgot to link your PAN with Aadhaar by June 30, 2023, you can still file your income tax return. The last date to file ITR for individuals not requiring audit for FY 2022-23 (AY 2023-24) is July 31, 2023.
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The introduction of Form 15CA and Form 15CB in the Income Tax Act of India was primarily aimed at strengthening tax compliance and enhancing transparency in foreign remittances.
The Income Tax Act, 1961 is an Indian legislation that governs the taxation of income in the country
This article provides insight and knowledge about the Special provisions of the Income Tax which are applicable to Non-resident income with respect to certain income as prescribed in Chapter XII-A of the Income Tax Act.
"New Tax Regime" or "Optional Tax Regime," was introduced as part of the Union Budget 2020-21. This regime aims to simplify the income tax structure and provide taxpayers with an alternative tax computation method.
In the ancient land of India, renowned warrior Arjuna found himself perplexed by the complexities of income tax laws.
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