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Did you furnish the income tax return ITR in FY 2019-20? If not then December 31 is the last date for filing the same. The Income-tax department has again prolonged the last date to file the ITR so as for a simpler filing procedure for the taxpayer seeking the pandemic. It means that the people have the time till the finish of this year to furnish their return on the earned income between April 1, 2019, and March 31, 2020, rather than November 30. July 31 is the due date for filing the ITR for all the taxpayers whose accounts are not needed to be audited. Income Tax Return (ITR) Filing: Important Dates At A Glance The prolongation of the date is for the sake of the assessee that there will be more and more time given to them so that they can furnish their due ITR as per the  Central Board of Direct Taxes (CBDT), the highest policy body made by the income tax department.  January 31, 2020, is the prolonged date to file the ITR for the assessee whose accounts need to be investi...

The Central Board of Indirect Taxes and Customs (CBIC) released the Central Goods and Services Tax (Thirteenth Amendment) Rules 2020 which will make some changes in the Central Goods and Services Tax Rules, 2017. The CBIC inserted Rule 61(6) to notify a due date for furnishing GSTR-3B for the months of October 2020 to March 2021 as the 20th of next month if the individual has a turnover of over 5 Crores. The Notification states that every registered individual or an input service distributor or a non-resident taxable person or a person paying tax under section 10 or section 51 or, as the case may be, in Form GSTR-3B under section 52 Will present a return, through electronic mode on the Common Portal either directly or through the Facilitation Center notified by the Commissioner, on or before the 20th day of the month to succeed such tax period. The said provision is not applicable to the registered person mentioned in section 14 of the Integrated Goods and Services Tax Act, 2017 . The...

It is essential to furnish the income tax return ITR for several causes, and particularly for the income tax refund to claim for the specified person. When you furnish the ITR then the income tax department will examine and if any refund is there then it is credited to the valid bank account of the person.  How One Can Claim The Tax Refund if it is Due As per the income tax law, tax is required to be cut from the sources of income at the rates stated under the law. There might be many sources of income as stated such as salary, interest, commission, rent, brokerage, professional fees, royalty, etc. Thus for salary, the Tax deducted at source (TDS) must be in accordance with the income tax slab liable for the payer.  If once the tax gets deducted then it needs to be sent to the central government’s account within the due period. Although the petitioners many a time does not declare expenses and investments which reduces their tax that is liable to get deducted. And the reason...