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It has been confirmed by the Income Tax Department that this year there shall not be any extension in the deadline of filing Income Tax Return (ITR). The aforesaid department informed the same on its official Twitter account and used the words ‘last chance’ for those who are relying on market speculation that there might be an extension in the deadline. It is an alert for those taxpayers who are thinking that there might be some extension in the deadline for filing ITR. The last date for filing ITR for AY 2020-21 is March 31st, 2021. Employers, please take note. If any of your employees has not filed Income Tax Return(ITR) for AY 2020-21 yet, this is the last chance to do so! We request you to please remind your employees. Last date to file ITR for AY 2020-21 is March 31st, 2021 #SmartBanoFileKaro pic.twitter.com/XVI138YY2N — Income Tax India (@IncomeTaxIndia) March 23, 2021 Furthermore, the Income Tax Department has tweeted  "If you have filed your audit report but not filed

Beneath the goods and services tax (GST) the e-invoicing is important for those who have a turnover of Rs 50 cr or exceeding from 1 April for the business to business transactions. Below is the information for the assessee who upon the production posses the turnover is Rs 50 cr to 100 cr. Firstly your GSTINs (GST Identification Number) should be allowed for e-invoicing. The enrollment and login to the platform are available for your GSTNs.  Secondly, you might be prepared and enroll in the live invoices for the GST e-invoices portal.  In the third part e-invoice bulk tools might be downloaded for preparing JSON and IRNs might be created.  In the fourth part, the e-way bills might be generated for your IRNs.  In the fifth section, you might further enroll for e-invoice APIs.  It is mandatory to note that the companies who possess direct access to APIs or if the assessee has tie-up or using the ERP of the firm who have direct access to API then he or she can use the API via that firm. T

SAG Infotech, an epitome in catering the latest tax software has come up with delightful discounts to revere women's day. SAG Infotech is offering a 50 per cent discount on all the tax solutions invented by the company and this offer is going to continue from women's day throughout the week till 8th-13th March 2021. Let's dive into the modules, SAG Infotech is providing discounts on: Genius Software for Income Tax + TDS + Balance Sheet Genius tax software forms an all-inclusive package with Gen IT, Gen CMA, Gen TDS, Gen FM, Gen BAL, and Gen AIR, for all taxation-related tasks of a business. Genius software ensures well-timed and accurate filing of ITR in compliance with the prevailing government norms and notifications, followed by its upload on government GST   Like Gen TDS is a key for the computation of TDS on every transaction which qualifies the deductions, A well-curated array of innovative software provides an instant quick fix for any tax-related issue or task

The last date for furnishing the advance tax is near. Any individual who estimates the tax liability for one year is Rs 10k or exceeding it is needed to pay the advance tax. The advance tax is to be filed in 4 installments in the fiscal year itself. The last date for filing the 4th installment of the advance tax is 15 march. Let us know what is the method to estimate the advance tax and the penalties for the case where one does not have paid the tax within the time. “A taxpayer should first estimate his current income and income-tax thereon shall be calculated at the rates in force in the financial year. Thereafter the estimated tax deducted or collected at source will be deducted and the balance tax payable will be used to compute the advance tax liability," told Vivek Jalan, partner, Tax Connect Advisory Services LLP, a Chartered accountancy firm. The assessee will be liable towards the interest beneath section 234B and 234C for default in filing of the advance tax . The intere

Whether it is the exam of CA, CS, CMA, or any professional exam the students feel stressed and anxious. Indeed they are failing to get depression in one or more than one subject. Even if you have prepared well then also the outcome you receive will not be up to the mark. Any student will get depression despite not taking it seriously; it might affect their performance in the future. The students do not need to give importance to their negative results and move forward by thinking that there is always an opportunity. The students should tackle it by ignoring their bad times and again implement it with hard work and get effective results.  This article majorly talks about the top tips towards managing exam stress which can assist students who have not passed their exams and execute it in the next round. You should be confident and understand that you do not stop trying twice or thrice. Indeed you must learn that you can sit at home and understand from the video lectures of CA/CS/CMA exec

After successfully filing an Income-tax return, people wait for the I-T Department to process the same. However, in some cases, due to any reason, ITR does not get processed and the concerned authorities may also ask you to explain or rectify your mistakes. If the same happens with your ITR then this article may help you. E-Verify Your Return Have you e-verified your Return? If not, then after uploading the ITR, you need to verify it online to complete the ITR filing procedure . You need to e-verify your return within 120 days after uploading the ITR otherwise it may be declared invalid. E-Verification mode is easier, quicker, safer, and paperless and you will also receive instant acknowledgment of the same. However, you can also e-verify your ITR using Aadhaar OTP, Bank Account EVC, Netbanking, Demat Account EVC, and DSC. Tax Credit Mismatch There could be one more reason due to which your ITR hasn’t processed; ‘Tax Credit Mismatch’. If there is a mismatch in your Tax Credit and visib