Per Circular : No. 639, dated 13-11-1992, ITR can be filed till Aug 1, 2011. Read the entire circular below: 797. Where last day for filing of income/loss return is a day on which income-tax office is closed, assessee can file return on next day afterwards on which office is open and return will be considered to have been filed within specified time limit 1. Representations … [Read more...] about Due Date to file ITR is Aug 1, 2011
Tax To-Do list: Expand your investment portfolio
If you think 80 C is the section which can help you avail tax benefits. You are absolutely right. It has been a noticeable trend among taxpayers that their investment in public provident fund, national savings certificates and mutual fund schemes is most of the times less than the advised limit. These investment tools can help you maximize your return benefits to a very large … [Read more...] about Tax To-Do list: Expand your investment portfolio
Tax Reforms Fail to Catch Up with Growth: Expert
During his visit to Delhi, Jeffrey Owens, director of the OECD (Organization for Economic Cooperation and Development) Centre for Tax Policy and Administration, said, "In India, tax reforms have lagged behind growth... Indian economy has transformed in the last two decades... But tax regulations have largely remained the same...” The economic growth in India has clearly … [Read more...] about Tax Reforms Fail to Catch Up with Growth: Expert
Tax To-Do list: Non declaration of income earned from previous employer
Every professional today seeks better opportunities that would help him/her chart a great career graph. At times employees change jobs in the middle of the financial year. This leads to the discrepancy in tax calculations vis-a vis the net income of the employee. It is thus very critical to disclose your income earned from the past employers to the new ones. The new employer … [Read more...] about Tax To-Do list: Non declaration of income earned from previous employer
Digital Signatures Now Mandatory for Companies Filing Returns
It has now become compulsory for companies to use digital signatures for filing their returns. Till now, firms could file the returns even without the digital signature. Filing returns electronically has been made mandatory also for the individuals whose accounts, under the I-T Act, have to be audited. Under the income tax law, accounts have to be audited if the turnover or the … [Read more...] about Digital Signatures Now Mandatory for Companies Filing Returns
