ITR e-Return for AY 2016-17 has been enabled in STO/SIT
ITR forms for AY 2016-17 - paper filing format has been notified by the income tax department.
Form 15G and 15H submission is been simplified by CBDT
Tax Audit Report due date is extended as per CBDT Press Release to 31st Oct
CBDT Extends Tax Audit Due date only for the state of Gujarat, Haryana and Punjab
CBDT further extends the ITR e-filing due date to 07th September 2015 for all Assessee
CBDT extends ITR Filing Due Date to 07th September for Assessees in Gujarat
CBDT has launched Electronic Verification System for verification of e-filed Income tax returns with a One-Time Password (OTP) called ‘Electronic Verification Code (EVC)’
eFile ITR-1, ITR-2, ITR-2A and ITR-4S for AY2015-16 using Saral TaxOffice and Saral IncomeTax
Saral TaxOffice and Saral Income Tax now enabled with ITR e-filing for AY 2015-16 (ITR-1 and ITR-4S)
Recently CBDT announced the new Income Tax Return (ITRs) for AY 2015-16, requiring the disclosure of details regarding bank accounts and foreign trips undertaken in the past financial year to check the menace of black money. Just after a day of announcing, a top finance ministry official said that the new ITRs will be reviewed by the Government. The move comes after criticism from tax experts on the new ITR, which was not only cumbersome but would have also increased harassment of taxpayers.
New ITR forms ITR1 (Sahaj), ITR2 and ITR4s (Sugam) notified for the AY 2015-16
The procedure for PAN allotment process will undergo a change with effect from 03.02.2014. From this date onwards, every PAN applicant has to submit self-attested copies of Proof of Identity (POI), Proof of Address (POA) and Date of Birth (DOB) documents and also produce original documents of such POI/POA/DOB documents, for verification at the counter of PAN Facilitation Centers
The Facility to bulk upload Form 15CA is now available as offline utility. The Remitter may use either online or offline utility to upload Form 15CA
Tax deductor and collector holding valid TAN can register and use the TAN based credentials to file Form 15CA. Please download the updated utility of Form 15CA
The facility of direct login and resetting forgot password of e-Filing portal using Net banking account of the tax payer is provided. Banks that provide this facility are Bank of India, City Union Bank Ltd, Corporation Bank - Corporate Banking, Corporation Bank - Retail Banking, Kotak Mahindra Bank, Oriental Bank of Commerce, Punjab National Bank, Union Bank of India. Other banks are expected to follow
Option to Submit Online Grievance Relating to Central Processing Centre (CPC) Bengaluru or e-Filing Provided at Income-tax E-filing Website
Option to Submit an Online Response to Outstanding Tax Demand at Income-tax E-filing Website is Now Enabled
Payment of tax on perquisites by employer
An option has been given to the employer to pay the tax on non-monetary perquisites given to an employee. The employer may, at its option, make payment of the tax on such perquisites himself without making any TDS from the salary of the employee. However, the employer will have to pay the tax at the time when such tax was otherwise deductible i.e.
Exemption on housing loans interest on self-occupied property increased from Rs 1.5 lakh to 2 lakh
Investment limit under Section 80C hiked to Rs 1.5 lakh from current Rs 1 lakh
Transport allowance, which is currently Rs.800 per month, has been increased to Rs.1,600 per month for FY 2015-16
Increase in limit of deduction of health insurance premium U/s 80D from Rs 15000 to Rs 25000, and for senior citizen limit increased from Rs 20000 to Rs 30000 for FY 2015-16
Basic exemptions to Individual Tax payers to remain unchanged for FY 2015-16
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