Blockchain extender tax

The Income Tax department on Thursday said it has issued refunds worth Rs 1. This includes 1. This includes personal Income Tax refunds of Rs 57, crore issued to over 1. A year after the tax exemption on maturity proceeds of Unit-Linked Insurance Plans Ulips on annual premiums of over Rs 2. Maturity proceeds received under such high-value Ulips purchased after February 1, , will not be tax-free under section 10 10D , as was the case earlier. If there are multiple Ulips, the aggregate premium paid will be taken into account.

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Free federal tax extension available in March

Have you read these stories? What industry experts want from Budget Updated: Jan 29, , Union Budget will be presented at a time when India's economic recovery from the pandemic blow is firming up. Infrastructure spen Sidhu declares assets worth Rs Budget ET NOW. Budget Five things FM Sitharaman can do to make life easier for income tax payers in India India's tax laws are rather complex and for simple tax calculations too one has to do two computations to figure out which method of taxation works better.

Budget unlikely to change individual tax rates, give more tax deductions: EY Taxpayers expect that Budget will provide reduction in income tax rates and surcharges, increase in deduction available under section 80C, increase in housing loan repayment exemption etc. Simply put, the taxpayers' expectation is more money in hand. However, whether or not the Union Budget will be able to deliver on the taxpayers' expectation needs to be understood in the light of our national priorities.

CBDT issues Rs 1. ITR filing, tax audit report deadlines for FY extended by CBDT The ITR deadline extension has come after various taxpayers asked the tax department and finance ministry to extend the ITR filing dates due to the rising coronavirus cases and issues with the new income tax portal.

CBDT further extends timelines for filing tax audit report, Transfer Pricing returns "On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act, the Act , the Central Board of Direct Taxes CBDT has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year ," an official statement said Tuesday.

All News Videos. Nearly 5. However, as per the data till December 30, , a little more than 5. Here is what they are saying on Twitter. No proposal to extend deadline to file income tax returns: Tarun Bajaj, Revenue Secretary. So, there is absolutely no proposal to extend the ITR filing date. I hope through this message the other people also file their returns," said Bajaj. I-T dept relaxes time till February for taxpayers to complete verification of FY20 ITRs Taxpayers who have not e-verified their ITRs for fiscal can complete the verification process by February 28, , as the Income Tax department has given a one-time relaxation to assessees.

Income tax returns filing for FY21 crosses 5 crore: I-T department Taxpayers who have not e-verified their ITRs for the financial year can complete the verification process by February 28, , as the income tax department has given a one-time relaxation to assessees.

Over 4. Not done ITR verification for last year? Income tax dept is offering one-time relief An individual is required to verify ITR within days of filing it as per income tax law.

The last date for filing ITRs for fiscal ended March 31, , by individual taxpayers is December 31, extended from the original date of July 31, Form ITR-1 is used by most individual salaried taxpayers to file their income tax returns.

However, there are certain situations where an individual cannot use ITR-1 or Sahaj to file their tax returns. Here is a look at those circumstances. Income tax return filing deadline for FY extended to December 31, This is the second time in this financial year that the government has extended the ITR filing deadline for individuals whose accounts are not required to be audited.

The extension was made due to glitches in the new income tax portal. Earlier, due to the second wave of the Covid, the ITR filing deadline was extended by two months to September 30, Income Tax refunds of over Rs 1. Have issues filing income tax returns? I-T dept's there to help you With Infosys plugging several gaps that were noticed when the new portal was rolled out earlier this year, the department is making every possible effort to ensure a glitch-free filing experience.

What is Annual Information Statement? New income tax portal errors resulting in reduced tax refund amounts for many The pre-filled data fetched on the new income tax portal is showing a mismatch with the total TDS amount mentioned in Form 26AS. Even after correcting the amount at the time of filing ITR, it seems tax department is taking pre-filled data into account.

If your days spent in India are more than , it makes you a resident in India. How to login into new income tax portal? Load More.

Relocating to Italy: the Italian Tax Authority unveils new rules for employees

The bill wraps several major tax initiatives into massive government funding legislation, H. Among the many changes are the return of some popular tax extenders and the repeal of three Obamacare taxes that were unpopular with both political parties. With many changes being retroactively applied to , tax payers should work with tax advisors to understand the potential for amendments to returns. Three taxes designed to fund the Affordable Care Act have been eliminated. All three taxes were postponed or suspended by bipartisan agreement and never took effect, but now tax payers can be secure they will not be implemented.

AOTAA has asked for the ITR filing deadline to be extended as well as the late filing fee collected to be returned to the assessees.

Australian Tax Return Deadline

With constant challenges in an ever-changing tax landscape, how do you plan, and effectively commit resources, to minimize what may be one of the biggest line items on your income statement? How do you make the best decisions for yourself, for your business and for future generations? Tax compliance — completing your business and personal returns in a timely and strategic fashion — is a given. Friedman does much more. For more than 90 years, we have proven ourselves to be a strategic tax planning partner for our clients. You can access tax advisory services in an array of specialized areas, including state and local tax, international tax, estate planning, tax controversy, and more. To learn more, please see the service menu or contact us or a Friedman advisor. Private Client.

Impactful Tax Changes for the Entertainment Industry

blockchain extender tax

Several associations of chartered accountants and industry bodies have urged the finance ministry to extend the due date for filing of income tax returns ITR for the assessment year AY that is, financial year This is applicable to taxpayers who do not have to get their books of accounts audited. Several tax consultants are in favour of this move. The recently—introduced annual information statement AIS is another hurdle. However, the department has clarified that no demands shall be issued for the current year in case of mismatch between AIS and actually reported income.

File an extension by April 18, and have until October 17, to finish your taxes.

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Utility Gross Receipts License Tax

Blockchain is a peer-to-peer, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. It is the underlying technology to cryptocurrency, and has many other possible uses. Blockchain technology can be programmed to record not just financial transactions, but nearly anything that holds value and can be expressed in code: births, deaths, marriage licenses, property deeds, medical procedures, insurance claims, votes, the possibilities are truly limitless. The importance and relevance of blockchain technology will only be amplified moving forward as organizations build for the future with the acceleration of digitization. As decentralization and distributed ledger technologies present new opportunities and value for organizations, there is an increasing demand for individuals who understand this technology. Students will gain exposure to use cases and how to apply theory to solve business problems. Blockchain emerging technology expert, plus data policy and digitization practitioner and strategist. Now is the time for early adopters and change agents to embrace the evolution of blockchain, given the thriving ecosystem among organizations.

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15 tax breaks for you in Trump’s COVID-19 stimulus bill

Have you read these stories? What industry experts want from Budget Updated: Jan 29, , Union Budget will be presented at a time when India's economic recovery from the pandemic blow is firming up. Infrastructure spen

The October tax extension deadline is fast approaching

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The threat of identity theft looms over us all, particularly with information that regularly appears on our tax returns.

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The Italian Tax Authority has issued new information on the incentives available to workers moving to Italy, providing updates on particular issues. The tax regime applies for five years and can be extended for another five years in total 10 years subject to some additional conditions e. Professional sportspeople : the Tax Authority specifies that the regime will not apply to this category of workers until the implementation of a specific Government Decree which will regulate how a proportion of their income equal to 0.

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