In the case of Mohamed Ibrahim v. ITO (International Taxation), a non-resident assessee had sold two properties and utilized the capital gains to purchase a new property. The Assessing Officer disallowed the payment made by the assessee for painting the building, installing grills and gates, and undertaking masonry and tiles works due to lack of …
Introduction The deadline for filing your Income Tax Return (ITR) for the year 2022-2023 is fast approaching, with only 23 days remaining until July 31, 2023. As a responsible citizen, it is crucial to fulfill your tax obligations within the stipulated time frame to avoid penalties and unnecessary complications. This article aims to provide you …
Introduction As the clock ticks away, signaling the approach of the annual income tax return filing deadline, it’s essential for salaried employees to understand the importance and advantages of timely filing. The due date of 31st July looms just 25 days ahead, and for individuals earning a salary, complying with this obligation can unlock a …
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Introduction: As we approach the end of another financial year, it’s time to shift our focus to the important task of filing income tax returns (ITR). With only 25 days left until the deadline on 31st July 2023, it’s crucial to take action and file your ITR promptly. In this article, we will explore the …
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Introduction Filing Income Tax Returns (ITR) is an essential obligation for both salaried individuals and businesses in Gurgaon. However, the intricacies of tax laws, frequent changes in regulations, and the need for accurate documentation can make the process overwhelming. In such circumstances, Chartered Accountant (CA) firms in Gurgaon play a pivotal role in providing expert …
Introduction: As another financial year begins, it’s crucial to familiarize ourselves with the income tax saving strategies and provisions applicable for the assessment year (AY) 2023-24. By optimizing our tax planning, we can make the most of the deductions and exemptions provided by the government. This article aims to provide you with a comprehensive guide …
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The clock is ticking, and the deadline for filing your Income Tax Return (ITR) for the Assessment Year (AY) 2023-24 is rapidly approaching. With just 28 days left until the due date on July 31, 2023, it’s crucial to act now and ensure your financial affairs are in order. Filing your ITR on time is …
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On June 30, 2023, the Central Board of Direct Taxes (CBDT) announced its intention to review cases where individuals had submitted fees and consent for linking their PAN with Aadhaar, but the actual linking process was not completed by the specified date. According to the CBDT’s update, some individuals faced difficulties while attempting to download …
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Filing income tax returns (ITR) is an essential financial obligation for every individual and entity in India. It ensures compliance with tax laws and enables the government to assess the income and tax liabilities of taxpayers accurately. To make the ITR filing process for the Assessment Year (AY) 2023-24 a hassle-free experience, here are some …
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Filing income tax returns (ITR) is a mandatory responsibility for every eligible taxpayer. It helps the government in assessing an individual’s tax liability and ensuring compliance with tax laws. As the new assessment year (AY) 2023-24 begins, it is essential for taxpayers to gather the necessary documents and information to file their ITR accurately. In …
Continue reading “File ITR: Required Documents and Information for Filing ITR for AY 2023-24”
