Income Tax & Gst Returns 🇮🇳

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Income Tax & Gst Returns 🇮🇳

Hello Members stay Connected With Us For Updates. Views Expressed Here Are Personal Opinion of Admin. #IncomeTaxReturn #GstReturns #GstRegistration #TdsRefund #TdsReturn #companyRegistration #News&Updates etc. Contact : @incometaxs

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Income Tax & Gst Returns 🇮🇳

Mar 6, 2026, 07:45 AM

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CBDT extends the last date for filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of the IT Act,1961. The application for registration or approval in Form No. 10AB can be filed upto 30th September, 2022.

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Mar 6, 2026, 07:45 AM

CBDT has notified a new Rule 12AB which prescribes additional conditions For filing of Income-tax returns ( This will be applicable for the ITR filing of FY 2021-22 ( AY 2022-23 )

Total sales/turnover/gross receipts in the business exceed Rs 60 lakh during the previous year.
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Gross receipts in profession exceed Rs 10 lakh during the previous year

Aggregate TDS/TCS during the year is Rs 25000 or more (In the case of senior citizens increased limit of Rs 50,000 shall be applicable)

Deposits in saving bank account is Rs 50 lakh or more during the previous year.

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Dec 28, 2024, 10:39 AM

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May 29, 2023, 04:27 PM

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May 29, 2023, 04:25 PM

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Jul 21, 2022, 07:19 PM

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May 20, 2022, 09:19 PM

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May 20, 2022, 08:14 PM

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May 16, 2022, 12:55 AM

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May 4, 2022, 03:23 PM

The CBDT has notified a new form (ITR-U) For filing updated Income Tax returns

A taxpayer would be permitted to file only one updated return per assessment year.

The return has to be filed Under Section 139(8A) relating to the Assessment Year (AY) commencing from 01.04.2020 and subsequent assessment years.

The new form (ITR-U) will be available to taxpayers for filing updated income tax returns from the FY 2019-20.

Eligibility of filing ITR-U

Return previously not filed,or

Income not reported correctly

wrong heads of income chosen, or

reduction of carried forward loss, or

reduction of unabsorbed depreciation, or reduction of tax credit u/s 115JB/115JC, or

wrong rate of tax, or any other reasons given by the taxpayers.

ITR-U New Form Cannot be allowed to file :
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Resulting in a refund, or increases the refund.

If a prosecution proceeding is initiated by issuing notice for a particular Assessment Year, or

If it has the effect of showing a loss, or

Reducing the total tax liability determined previously, or

Time limit of filing ITR-U

within 24 months from the end of the relevant assessment year.

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Apr 13, 2022, 09:20 PM

The CBDT has enabled the common offline utility for filing ITR-1 and ITR-4 for the Assessment Year 2022-23.

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Apr 12, 2022, 02:41 PM

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