Sunday, December 22

Tag: ITR

CBDT Issues FY’25 Interim Action Plan for Tax Officers
11Apr By adminNo Comments
Business

CBDT Issues FY’25 Interim Action Plan for Tax Officers

The action plan also stipulates timeline for approval of refunds, identification of cases where seized assets are due for release and release the same by June 30, 2024.Taxpayers are now required to file applications before the assessing officer for pending refunds pertaining to their respective assessments.The income tax department has come out with an interim action plan for 2024-25 fiscal year, which include identification of potential cases of prosecution, wherein there is short-payment of TDS and faster disposal of appeals.The action plan also stipulates timeline for approval of refunds, identification of cases where seized assets are due for release and release the same by June 30, 2024.It also called for finalisation of compounding proposals pending as on March 31, 2024, and disposa...
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Want To Save Taxes? 4 Strategies By ClearTax Founder Archit Gupta
29Dec By adminNo Comments
Business

Want To Save Taxes? 4 Strategies By ClearTax Founder Archit Gupta

Curated By: Business DeskLast Updated: December 14, 2023, 19:49 ISTMake well-informed choices to optimise your tax-saving potential.The Income Tax Act offers various avenues for deductions, so that people can save some amount while filing taxes. As the financial year nears its end, it is crucial to take a look at your tax savings, investments and expenses. You must ensure you don’t end up paying higher taxes. The Income Tax Act offers various avenues for deductions, so that people can save some amount while filing taxes. There are some ways in which people can make well-informed choices to optimise their tax-saving potential in the final month of the year. The owner of ClearTax, which is India’s leading tax filing firm, Archit Gupta explains four things that people can do before Dec...
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Income Tax Department: Discard Income Tax return: 5 things to keep in mind before exercising new option by Income Tax Department
30Nov By adminNo Comments
Business

Income Tax Department: Discard Income Tax return: 5 things to keep in mind before exercising new option by Income Tax Department

Filing an income tax return (ITR) is an annual compliance obligation of the taxpayers. With the increase in the number of tax returns being filed, awareness regarding the steps to be followed by them to complete the ITRfiling process is a must. To start with, you login to your e-filing account on the income tax portal, select the applicable tax return form and provide the required information.Post validating the online filled form, you will submit it and the ITR will be uploaded and an acknowledgement of filing - ITR V is generated. But is this the last step of the process? The answer is NO. An important stage of the e-filing process is verification of the uploaded ITR. Without verifying, your return will not be construed as ‘filed’ and hence, the post filing step is a prerequisite to ens...
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