Central Board of Direct Taxex has issued instruction u/s 119 of the Income Tax Act to extend the due date of filing of return for people who are either residing in Uttrakhand or being assessed in Uttrakhand. The reason for extending the due date is large-scale devastation due to recent natural calamity in the State of Uttarakhand….
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CBDT has clarified that the date of filing tax return to 17th October 2016 vide its order u/s 119 of the Income-tax Act, 1961 (‘Act’) dated 9th September, 2016 is also for obtaining the tax audit report under section 44AB . Read the explanatory circular below F. No. 225/195/2016-ITA II Government of India Ministry of […]
CBDT has extended the due date for filing tax return on ground of clash of dates with last date for declaration under the Income Declaration Scheme 2016 . It its circular dt 9th September 2016 , reasons cited by the CBDT to remove the inconvenience – “In order to remove inconvenience and to facilitate ease of […]
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Disability deduction u/s. 80DD of the I.T Act for expenses on maintenance ,nursing or medical treatment of disabled dependent relatives or members of HUF is allowed to a taxpayers .The deduction u/s 80DD is generally of Rs 50,000 , but in case the dependent is suffering from severe disability, the maximum limit goes to Rs 1,00,000 ...
Every year tax forms (popularly known as ITR ) are issued afresh valid for a particular assessment year . CBDT has notified income tax forms for asst. year 2014-15 also . A perusal of the ITRs , it is observed that a significant number of changes or additional fields have been inserted in the notified...
About Prashant Thakur
The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.