AY PAPI 19 RELEASE DATE PDF
“Income Tax Notification No.107” Check PDF.“Income Tax Notification No.108” Check PDF.“CBIC issues Income Tax 28th amendment rules 2021.” Read PDF.“Income Tax Department conducts searches in Ahmedabad.” Read More.”Income Tax Department conducts searches in Punjab and Haryana.” Read More.“The Income-tax department issued the press release related carry forward of losses in the shareholding case due to disinvestment.” Read Press Release.“CBIC issues Income Tax 29th amendment rules 2021.” Check PDF.”Meeting of BRICS Heads of Tax Authorities and Experts on Tax Matters held virtually under Chairship of India” Read Press Release.“Income Tax Department conducts searches in Mumbai and other regions” Read Press Release.“The central government has issued the press release for relaxation of TDS provisions u/s 194A under the Income-tax act.” Read more.“The Income-tax department again extended the due date for linking PAN with Aadhaar and penalty proceeding from 30th September to 31st March 2022.” Read more.Circular No.17/2021 dated issued.” Click here for Press ReleaseĪdvance Taxes of Income Tax for FY 2020-21 (AY 2021-22) Payment of Advance Tax: Self-employed and businessmen Due Date “On consideration of difficulties reported by the taxpayers in filing of Income Tax Returns(ITRs) & Audit reports for AY 2021-22 under the ITAct, 1961, CBDT further extends the due dates for filing of ITRs & Audit reports for AY 21-22. The due date for passing issuance of notice under direct taxes & Benami acts – 31st march 2021.Last date for passing orders under vivad se Vishwas scheme – 31st January 2021.Last date for vivad se Vishwas scheme declaration – 31st January 2021.The due date for furnishing audit reports of tax audit reports and international/specified/domestic transactions – 15th January 2021.Due Date Income tax return for FY 2019-20 (AY 2020-21) – 10th January 2020 (For Other taxpayers).Due Date Income tax return for FY 2019-20 (AY 2020-21) – 15th February 2021 (For international/specified/domestic transactions).Due Date Income tax return for FY 2019-20 (AY 2020-21) – 15th February 2021 (Audit Required).As per the section 234F of the Income Tax Act, 1961, the taxpayer must pay penalty for delay in filing of ITR.Ĭheck out Due dates for tax assessment under Vivad se vishwas scheme, direct tax & Benami acts_.The due date for annual return section 44 CGST FY 2019-20 – 28th Feb 2021.The due date for self-assessment tax payment – 10th January 2021 (para 4(c).Due date for self assesment tax payment upto 1 lakh – 15th February 2021 (para 4(a) & para(b).The due date for furnishing audit reports of tax audit reports and international/specified/domestic transactions – 31st December 2020.Due Date Income tax return for FY 2019-20 (AY 2020-21) – 31st December 2020 (For Other taxpayers).Due Date Income tax return for FY 2019-20 (AY 2020-21) – 31st January 2021 (For international/specified/domestic transactions).Due Date Income tax return for FY 2019-20 (AY 2020-21) – 31st January 2021 (Audit Required).The taxpayers need to pay Advance Tax as per the following table: Taxpayers, Businesses, Salaried Individuals, and freelancers with tax liabilities during the current financial year are greater than Rs 10,000 are needed to pay advance tax in four installments throughout the financial year in which they earn income. Advance TaxĪlso referred to as ‘pay as you earn Scheme in ’ in contrast to the scheduled annual tax payment tax procedures, Advance Tax is paid on a Presumptive basis. TDS is an ideal mechanism for the government to ensure timely Income Tax payment as well as curb tax evasion. The other person/corporation must, however, abide by the prevalent IT laws. The tax is paid by a third person/corporation who/which happens to be the source of income for the taxpayer if the payment exceeds certain threshold limits at the rate prescribed by the government of India. TDS, as it is commonly known as Tax Deducted at Source. Income Tax is further subdivided into many categories but there are three main categories of income tax based on the category of payee and time of payment. In addition to these Income Tax also acts as a fiscal deficit stabilizer as well as minimizing the impact of Global Economic Cycles. Like all taxes, accrues from Income Tax also constitute a good portion of the country/state treasury. Income tax due dates come every year in March ending must be followed strictly for safeguarding financial interest.Ī popular example in this regard would be the GST or the VAT. Indirect tax is levied on goods and services. There are different types of taxes and they can all be categorized into two main groups i.e Direct tax and Indirect Tax.Ī direct tax is levied on the income or profit of an individual. Tax is a pivotal arm for the good governance of a state or nation.