In the case of G.D. Foods and Manufacturing (India) (P) Ltd. v. Assistant Director of Income-tax (Central Circle) [2023] 152 taxmann.com 323 (ITAT Delhi), the assessee had made a payment towards the employee’s contribution for EPF and ESI. However, the Assessing Officer disallowed an amount of Rs 19,37,001/- under section 36(1)(va) of the Act due …
Filing income tax returns (ITR) is not only a legal obligation but also offers numerous benefits for individuals in various professions. Whether you’re a doctor, lawyer, CA, CS, software engineer, architect, or any other professional, filing your ITR can have significant advantages. In this article, we will explore the specific benefits of filing ITR for …
Tax season is upon us, and with it comes the responsibility to file our income tax returns (ITR) in a timely manner. It’s essential to meet the deadline and fulfill our civic duty as responsible citizens. Whether you’re a doctor, lawyer, CA, CS, software engineer, architect, or any other professional, it’s crucial to take action …
Continue reading “File ITR Now! Only 16 Days are Left. Due Date is 31st July 2023”
📢 Attention: Holders of foreign bank accounts, assets, and income! 🌍 In order to ensure a transparent and fair tax system for all, we kindly remind you to complete the Foreign Asset Schedule in your Income Tax Return (ITR) for Assessment Year 2023-24. đź“ť If you possess foreign bank accounts, assets, or receive income from …
Continue reading “Disclose Your Foreign Assets and Income in ITR by July 31st, 2023”
Filing income tax returns (ITR) is a legal obligation for every taxpayer, including salaried individuals. It is a process through which individuals report their income and taxes paid to the government. While many salaried individuals may believe that filing ITR is only necessary if they have taxable income, there are several benefits to filing returns …
Continue reading “Carrying Forward Losses: Why Timely ITR Filing Matters for Salaried Individuals”
The deadline for filing income tax returns (ITR) is fast approaching, and it’s important not to procrastinate. Filing your ITR is a crucial responsibility for every taxpayer, whether you are a salaried individual or a freelancer. The due date for filing ITR in India is 31st July, and it’s essential to understand the benefits and …
Continue reading “Carrying Forward Losses: Why Timely ITR Filing Matters for Salaried Individuals”
The deadline for filing your Income Tax Return (ITR) is quickly approaching, and it’s crucial not to procrastinate. Filing your ITR is a legal obligation for all eligible individuals, and doing so on time brings numerous benefits. Whether you’re a salaried professional or a freelancer, understanding the advantages of filing your ITR can help you …
Continue reading “Don’t Wait to File ITR, File ITR Now! Due Date is 31st July”
Filing Income Tax Returns (ITR) offers several benefits to individuals and businesses. Here are some key advantages of filing ITR: In summary, filing ITR offers individuals and businesses a range of benefits, including compliance, claiming refunds, financial documentation, continuity in financial transactions, positive compliance history, loan approvals, and avoidance of future hassles. It is a …
Introduction The deadline for filing Income Tax Returns (ITR) for non-audit cases is rapidly approaching. As a responsible citizen, it is crucial to understand the significance of filing your ITR on time and ensuring compliance with tax regulations. This article serves as a reminder and guide for individuals to promptly complete and submit their ITRs, …
Continue reading “File Your Income Tax Return Now: Last Date is 31st July 2023”
Introduction As we approach the midway point of the year, it’s time to face one of the most crucial financial tasks for individuals and businesses alike: filing your income tax return. With just 21 days left until the deadline on July 31st, 2023, it’s essential to start gathering your documents, organizing your financial information, and …
Continue reading “Filing Your Income Tax Return: The Countdown Begins with Only 21 Days Left!”
