There are many notices which have been defined under the income tax act, 1961 and the purpose of each notice is different in each case. There are notices which can be issued when you file the return of income like section 143(2) and notices issued when you did not file return like 144. Although, in … Read more
ITR-1 cannot be used by the NRI for filing his return of income Generally, every year, the income tax return forms are notified by the central government in the first week of the April month of the assessment year. For example: For the financial year 2018-19, the forms normally issued in April 2019. However, with … Read more
Earlier NRIs were not allowed to incorporate themselves with Indian Companies without prior permission. But nowadays there is no restriction for foreigners or NRI to incorporate a business in India in the form of a company registered in India. So, This article is all about various Frequently Asked Questions that generally asked by the NRIs … Read more
Recently, the Central Board of Direct Taxes (CBDT) has notified two Income Tax Return (ITR) forms which shall be applicable for the assessment year 2020-21. Generally, as per the past experience, it is seen that the tax department issues the new ITR forms in the first week of April of the relevant assessment year. For example: In … Read more
Overview:- Income Tax Calendar is merely a reminder to recall the Taxpayer for filing the ITR filing or other form compliance within the time as per due dates of Income Tax. If compliance doesn’t make then Taxpayer has to face severe penalties in each different case which are not condonable by the Income Tax department. So in … Read more