Updated ITR, ITR U: What is it? How to file it?
If you have missed December 31 deadline for filing your belated tax return or revising your filed ITR, then you have the option to file an updated ITR, ITR-U, under Section 139(8A) with some penalty and extra tax. An updated ITR, is an updated return that allows you...How to reply to Income Tax Mail/SMS on e-Campaign for High Value Transactions or Non Filing of ITR?
The Income Tax Department is sending email/SMS to identified taxpayers to verify their high value transactions. You can receive the SMS/Email even after processing of your ITR & intimation already received u/s.143(1) Don’t ignore any message/mail such as High...Top 8 Tax-Saving Instruments To Add In Your Portfolio
Almost every taxpayer is on the hunt to arrange their finances in a way that helps them save taxes. If you are one of them, know that there are options that act as tax-saving instruments that you can purchase. While their core benefits may differ, these products can...New draft Common Income Tax Return Form
At present, depending upon the type of person and nature of income, taxpayers are required to furnish their Income-tax Returns in ITR-1 to ITR-7. Income Tax Department, proposes to introduce a common ITR by merging all the existing returns of income except ITR-7....How to Prevent an ATO Audit
Unfortunately, not every individual does what’s right when it comes to dealing with tax returns. To ensure everything remains on track, the ATO reaches out to over two million taxpayers yearly to assess their review, even though not all of them will be subjects...Subscribe to All Our Posts
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