Photo: First Post
Missed IT Return Filing, Here's Solution For People
In March, many firms worry about their IT filing and government deadlines. If you have made a mistake or have missed reporting an income while filing your Income Tax Return, there is a chance for you, providing you arrangements to update the IT and do it within two years under Section 139 (8A) under the IT Act in ITR-U form, filing for 2021-2022 till March 31, 2024.
Tags: Banking, IT Return, Income, Tax Payers, new rule
Courtesy: India Today
Photo: Business Standard
I-T Departments Monitor High-Value Transactions, Report Immediately To Avoid Actions
Recently, the Income Tax (I-T Department) entered into agreements with several government agencies and financial institutions to access the records of individuals regarding high-value transactions. Now, the I-T Department is monitoring high-value cash transactions beyond a specific limit, and issuing notices to individuals, who fail to mention those high transactions, in their IT returns. The information needs to be updated in mutual-fund… read-more
Tags: IT Department, Tax Payers, High-Vlaue Transaction, Notices, Finances
Courtesy: NDTV
Photo: Income Tax Website
CBDT Issues Income Tax Refund To 1.19 Crore Tax Payers In 2021
The Central Board of Direct Taxes (CBDT) issued refund of Rs 1,32,381 crores to more than 1.19 crore payers. The refund amount is divided into Rs 44,207 crore issued in 1,17,32,079 cases and corporate tax refund of Rs 88,174 crore in 1,99,481 cases. The total amount also include 83.88 lakh return of Annual Year (AY) 2021-2022 amounting to Rs 17.266.48 crore. The return was confirmed by IT Department through Twitter.
Tags: Income Tax, CBDT, Government of India, Tax Payers, India
Courtesy: ANI
