Tag Archives: scrutiny Case under Income tax

Know which tax cases will not come under the faceless assessment.

Know which tax cases will not come under the faceless assessment. In the faceless assessment, taxpayers and tax authorities will not need to meet each other or keep an identity. New Delhi: From now on there will be a faceless assessment of income tax return. That is, taxpayers and tax authorities will not need to […]

How to file Income Tax Return easily

How to file Income Tax Return easily Income tax return filing is a mandatory process that the assessee should carry out with due care. However, the otherwise basic and simple process becomes cumbersome with the lack of knowledge. Read on to know How to file Income Tax Return easily that will make income tax filing […]

Non-Filing of the Income Tax Return – Consequences

Non-Filing of the Income Tax Return – Consequences 31st March’ 2018: The last date for Income Tax return u/s 139(4) for Financial Year 2015-2016 & 2016-2017. Many people have a query that what will happen if we do not file the Income Tax Return by the aforementioned deadline. There are many benefits of filing the […]

Appeal before High Court Under Income Tax Provisions

Appeal before High Court Under Income Tax Provisions Part CC of Chapter XX of the Income Tax Act, 1961 (‘Act’ for short) provides the procedure for filing appeal before the High Court. Who can file appeal? Section 260A(1) of the Act provides that an appeal shall lie to the High Court from every order passed […]

New disclosure scheme could be 50% tax and 4-year limit on cash use for unaccounted deposits

New disclosure scheme could be 50% tax and 4-year limit on cash use for unaccounted deposits The government is likely to introduce an amendment in the income-tax law in next week under which people can voluntarily deposit cash that can’t be accounted for in banks will face a tax of 50% and have a fourth […]