Income Tax

[vishalrao]

Now we know one of the ways gormint is reporting record GST mop up.

 

[mikrotik]

My father in law, has rented his property. He needs to deducted tds and the deposit to the government. Now on that too govt wants the interests on the months when the property was not on rent.

 

[mhsabir]

Not all ITR1 are fast either. A relative's refund is pending for two weeks. So, seems there is some unknown criteria.

 

[Sushubh]

ITR Verification: ITR e verify time limit reduced to 30 days? What is ITR e verify last date? Read here

For ITRs filed up till and including 31.7.2022 the earlier time limit of 120 days from date of filing of ITR continues, as per the CBDT notification. The reduced time limit of 30 days applies to ITRs filed on and after 1.8.2022.

economictimes.indiatimes.com

 

[Navjot Singh]

Gotta love the last moment changes.

 

[mikrotik]

Actually, I appreciate that. Because in order to invalidate an ITR return, you either need to wait for 120 days or file a revised return.
But incase you want to invalidate a revised return, then there is only 1 option.

 

[Jonas]

Taxpayers who failed to file their returns by the due date would have to pay a penalty from today. There is a fine of up to Rs 5000 on belated ITR filing, which can be done till December 31, 2022.

Indian Express

 

[Jonas]

Tax return got credited yesterday.

 

[mikrotik]

I am supposed to get some refund. Hasn't moved an inch

 

[Sushubh]

Used cash in hospitals, party halls? I-T dept will target you - The Times of India

India Business News: NEW DELHI: With an eye on detecting cash transactions, the income tax department has set its sights on hospitals (as several are not collecting PAN fr.

timesofindia.indiatimes.com