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Income Tax Return

Comprehensive Guide to ITR Filing 2024: Reporting High-Value Transactions to Avoid Income Tax Notices

Filing your Income Tax Return (ITR) for 2024 is a crucial task, especially if you’ve engaged in high-value transactions during the financial year. The Income Tax Department closely monitors such transactions to ensure compliance and prevent tax evasion. This guide will help you understand the types of high-value transactions that may attract scrutiny and how […]

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Comprehensive Guide to Key Statutory Due Dates for LLP Annual Filing FY 2023-24

Certainly! Here’s a detailed guide focused on the important statutory due dates for LLP (Limited Liability Partnership) annual filing for the Financial Year (FY) 2023-24 in India. Important Statutory Due Dates for LLP Annual Filing FY 2023-24 1. Annual Return (Form 11) Due Date: May 30, 2024 Details: Who Needs to File: Every LLP registered […]

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Income Tax Return filing for A.Y 2020-21: ITR-1, ITR-4 remains ‘Sahaj, Sugam’ for these taxpayers!

The Finance Ministry just notified the Income-tax Return (ITR) Forms ITR-1 (Sahaj) and ITR-4 (Sugam) for the A.Y 2020-21 to ensure that the e-filing facility for filing of return for assessment year (A.Y) 2020-21 is open as on April 1, 2020. ITR-1, ITR-4 for AY 2020-21: Persons who jointly own a single house property can […]

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10 benefits of filing Income Tax Return even if you are below taxable range

If you don’t file ITR, the belated return could lead to extra interest at 1% per month for the remaining tax payable by you. Most millennials think that if their salaries fall below the taxable bracket they shouldn’t be filing ITR (Income Tax Returns). However, that is not true. One wants to file income tax […]

Didn’t file your personal ITR for A.Y. 2016-17 & 2017-18, here is the last chance ?

Hope this post finds you well. Here is a quick reminder regarding deadline approaching for filing ITR for FY 2015-16 & 2016-17 in case you haven’t filed one yet. Income Tax Returns should be filed every year It is mandatory to file a return if you have earned any taxable income Stay away from penalties […]

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