Filing of Income Tax Returns registers an upsurge of 71% upto 31st August,2018 There has been a marked improvement in the number of Income Tax Returns(ITRs) filed during FY 2018 (upto 31/08/2018, the extended due date of filing) compared to the corresponding period in the preceding year. The total number of ITRs e-filed upto 31/08/2018 was 5.42 crore as against 3.17 crore upto … [Read more...]
Extension of date for filing of Income Tax Returns for taxpayers in Kerala
Extension of date for filing of Income Tax Returns for taxpayers in Kerala In view of the disruption caused due to severe floods in Kerala, the Central Board of Direct Taxes (CBDT) hereby further extends the “Due Date” for furnishing Income Tax Returns from 31st August, 2018 to 15th September, 2018 for all Income Tax assessees in the State of Kerala, who were liable to file the … [Read more...]
Income tax return filing deadline extended to August 31
Income tax return filing deadline extended to August 31 The due date for filing of Income Tax Returns for Assessment Year 2018-19 is 31.07.2018 for certain categories of taxpayers. Upon consideration of the matter, the Central Board of Direct Taxes(CBDT) extends the ‘due date’ for filing of Income Tax Returns from 31st July, 2018 to 31st August, 2018 in respect of the said cat … [Read more...]
Deduction U/S 16 of the Act from the Income from Salaries
DEDUCTIONS U/S 16 OF THE ACT FROM THE INCOME FROM SALARIES Entertainment Allowance [Section 16(ii)]: A deduction is also allowed under section 16(ii) in respect of any allowance in the nature of an entertainment allowance specifically granted by an employer to the assessee, who is in receipt of a salary from the Government, a sum equal to one-fifth of his salary(exclusive of … [Read more...]
No plans to extend deadline for filing the Income Tax beyond 31st July, 2018 for non-tax audit – CBDT
No plans to extend deadline for filing the Income Tax beyond 31st July, 2018 for non-tax audit - CBDT CIRCULAR No.4/2018 F.No.370889/25/2018 Government of India Ministry of Finance Department of Revenue Cçentral Board of Direct Taxes New Delhi, Dated 21st July, 2018 Order under section 139(1) of the Income-tax Act, 1961 ('the Act') This Circular is issued in pursuant … [Read more...]