Budget 2018-19

  ‘Continued challenges’ faced by people in the coronavirus pandemic prompts tax department to extend deadlines. The deadline for individuals to file income tax returns has been extended by 10 days to January 10, 2021 due to “continued challenges” people face due to the coronavirus. The new deadline for filing GST annual return is February 28. The last date for declaration under Vivad Se Vishwas Scheme has been extended to December 31, 2020. The new date for furnishing of Income Tax Returns for taxpayers (including their partners) who have to get their accounts audited is January 31. The date for furnishing of Income Tax Returns for the taxpayers who are required to furnish report in respect of international/specified domestic transactions was extended to January 31, 2021. The date for furnishing of  Income Tax Returns  for other taxpayers was extended to December 31, 2020. “In view of the continued challenges faced by taxpayers in meeting statutory compliances due to out...

  A total of 45,855 declarations have been filed under Form 1 as on November 17 and declarations amount to Rs 31,734 crore The government has collected Rs 72,480 crore so far under its flagship, Vivad se Vishwas direct tax resolution scheme, with over a month to go for the deadline. A total of 45,855 declarations have been filed under Form 1 as on November 17 and declarations amount to Rs 31,734 crore. In case of CPSUs, the total amount being settled under the scheme is Rs 1,00,195 crore. “So far, tax of Rs 72,480 Crore has been paid by the CPSUs and taxpayers against the disputed demand under the scheme till date,” said a government official. The government amended the Finance Act in September to extend the payment date under the Direct Tax  Vivad se Vishwas Act , 2020 without additional amount to December 31, 2020. ALSO READ:  US regulator rescinds ban, clears runway for Boeing Max 737’s return Vivad se Vishwas Scheme was announced in the Budget presented on February 1 ...