WebSep 23, 2013 · Compulsory filing of return of income [Section 139 (1)] (1) As per section 139 (1), it is compulsory for companies and firms to file a return of income or loss for every … Web2 days ago · 1. Presumptive taxation regime of Section 44AD of the Act. The objective of section 44AD of the Act is to provide a presumptive income scheme for small taxpayers to lower compliance costs for them and to reduce the administrative burden on the tax machinery. In the case of an “eligible assessee” engaged in an “eligible business”, the ...
Understanding Section 139(1) of the Inco…
WebJan 24, 2024 · Section 139 deals with late filing of income tax returns. It also consists of subsections dealing with the different types of income tax returns that must be filed if the … WebApr 13, 2024 · What is Section 139 (8A)? Section 139 (8A) was introduced in the Income Tax Act in 2024 to provide clarity on the applicability of updated ITR forms. According to this section, if the Central Board of Direct Taxes (CBDT) notifies updated ITR forms, taxpayers can use either the updated or the old ITR forms to file their returns. citation formats explained
Using Section 139 To Give Tax-Free Payments To Staff …
WebSection 139 (1) The mandatory and optional filing of income tax returns is covered in this subsection. The situations where ITR filing is required are listed below. Anyone whose total income exceeds the threshold for … WebApr 15, 2024 · 3. In this case, an order under section 154 of the Income-tax Act, 1961 (for short ‘the Act’) was passed by the AO which reads as under:-“ The assessee has filed rectification application u/s 154 for the A.Y. 2011-12 on dated 12.02.2016, 21,04.2016 and 11.07.2016 submitting following points respectively :-1. WebFeb 17, 2024 · Section 139 (8A) – Updated Return With the advancements of automation, technology, and artificial intelligence, Government is in receipt of a wide range of information that has led to the belief that taxpayers should be given an additional time period to voluntarily furnish a correct updated return of income tax. citation formats computer scince