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ITR FILING 2018
Booked flats in 2005, still awaiting possession: Builder ordered to pay 10.05% interest to homebuyers for nearly 20-year delayThe Bombay High Court, in its ruling, said a builder can’t indefinitely retain purchasers’ money while failing to deliver homes. For the de...
Wife’s MBA degree or past employment with MNCs can’t stop her from demanding maintenance, rules HCAn Allahabad High Court ruling states a wife's education or earning potential does not disqualify her from maintenance. The court considere...
Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled itAn Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal,...
Buying agricultural land near a city? Key income tax rules you must knowAn ITAT ruling clarified that stamp duty valuation doesn't define agricultural land status for income tax. The tribunal emphasized that off...
These individual taxpayers will get old income tax refund by January 31, 2024Income tax department has passed an order stating that individuals who had filed ITRs for AY 2018-19 (FY 2017-18), AY 2019-20 (FY 2018-19) ...
Belated, revised ITR filing deadline for FY2018-19 extended to November 30, 2020This is the fourth time the government has extended the deadline of filing belated ITR from the original deadline of March 31, 2020, due to...
Why you should file belated ITR, correct ITR errors before March 31Once this opportunity is missed, then you will not be able to file your ITR for FY 2018-19. In such a case you will be able to file the ITR...
Not filed ITR for FY 2018-19? March 31 is your last chanceThere are few important financial deadlines in the month of March that an individual taxpayer needs to be aware of. These include filing a ...
Reporting of foreign assets in income tax return: CBDT issues clarificationCBDT has clarified that only foreign assets acquired as per the relevant accounting period of the foreign country have to be reported while...
Which salaried individuals can't file ITR-1 for FY2018-19There are certain cases where ITR-1 will not apply to salaried individuals for financial year 2018-19.
Key changes in ITR-1 and ITR-2 forms for FY 2018-19 that you need to knowHere are nine changes in ITR forms 1 & 2 that you should know about while filing your return for FY19.
No drop in Income Tax return e-filers, two fiscal year numbers not comparable: CBDT clarifiesDirect taxes body's statement comes in the wake of reports pertaining to reduction in numbers of ITRs e-filed during FY 2018-19 as compared...
Why you should file belated ITR before December 31The income tax department has issued advertisements asking taxpayers who have not filed their ITR till now to do the same before December 3...
I-T returns surge 60%, cross 5 crore by Aug 30, 2018The government’s decision to impose a penalty on anyone filing ITR after August 31 has also resulted in more people filing returns on time.
ITR filing: No penalty if you file by midnight today and revise later if neededAccording to current income tax laws, there is no fees or penalty for revising your income tax return within the prescribed time limits.
Here's your last minute ITR filing checklistMake sure you file your tax return using the correct form applicable according to your income, using the wrong one would make your return d...
6 things you must know while e-filing ITRThe e-filing website of the income tax department has undergone various changes. Here are the six changes you will see on the ITR filing we...
Delayed release of electronic ITR forms may compel CBDT to extend the filing deadlineThe last date to file ITR is July 31, 2018 and almost a third of the time is over. The CBDT has not released the utility for filing of retu...
Income tax return forms for FY 2017-18 releasedCBDT has been quick of the mark in releasing these forms right at the start of the assessment year to enable people to start filing their r...