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Do you need to file revised ITR after the Income Tax Department's message?

The risk management alert is a cautionary prompt, not a notice. Taxpayers need revised ITRs only if mismatches exist. Those ...

Income tax refund update: What is revised ITR? How to file it online? Is there a penalty? All FAQs answered

While filing ITR initially, taxpayers can often overlook certain things or make mistakes. However, the mistakes in the ITR ...
Tax Guru

Belated Filing Alone Doesn’t Nullify 80P Deduction at CPC Stage

ITAT ruled that deductions under section 80P cannot be disallowed at the CPC stage for returns filed after the due date prior to Finance Act 2021. The matter was remanded for proper verification by ...

Samsonite Company's Top Official Hails India As Luggage Industry's Global Leader, Triples Factory Capacity In Nashik To 7 Lakh Pieces Per Month

"The company holds a leading position in India and globally, with Nashik being the largest luggage factory worldwide (for ...
Tax Guru

Delayed Filing Blocks 80P Deduction: ITAT Upholds CPC Adjustment

ITAT Bangalore rules that Section 80P deductions cannot be claimed if the return is filed after the due date. The decision reinforces compliance with Section 80AC(ii) and aligns with Madras HC ...