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Self Assessment Tax News

These Two Deadlines Have Not Changed; Taxpayers Be Mindful

In a bid to offer relief to taxpayers amid the raging second coronavirus wave in the country, the income tax filing deadline has been extended to September 30, 2021 for FY21. But here in note that these two deadlines have not ...

CBDT Offers Relief To Seniors On Self-Assessment Tax

The CBDT has extended relief to senior citizen class on self assessment tax. As part of the earlier relief if they had self assessment tax liability of over Rs. 1 lakh in financial year they can file the return by November ...

These Tax Compliance Related Deadlines Have Been Extended: Know The Dates

The centre has yet again extended the compliance deadline in relation to income tax and other procedural tasks by further some time amid Covid 19 led business disruption. Here's the full list of the extended deadlines: ...

Demonetisation Effect: ITR Filing Surges By 25%

Narendra Modi government led demonetization move which involved scrapping of high value notes of Rs. 500 and Rs. 1000 and also fuelled the introduction of Rs. 2000 bank notes is attributed as a major step causing the surge in e-filing for ...

What are the various challans used for depositing tax?

The department of Income Tax in India in order to deposit in the different type of taxes has provided different challans. The specific challan for a particular tax can be filled in with the requisite details and deposited along with the ...

What is self-assessment tax?

Self-assessment tax is the tax amount in excess of advance tax and TDS which is payable by the income tax assessee. Usually, when filing income tax return an assessee computes the income and corresponding taxes to be filed. However, in certain ...