Janani Services

✅ Tip: Even if your parents are not required to file ITR, you should still ensure their PAN and Aadhaar are linked to avoid it becoming inoperative.
🔹 How to check linking status
You can check if PAN & Aadhaar are linked at:
🔗 eportal.incometax.gov.in/iec/foservices/#/pre-logi…

➡ Go to “Link Aadhaar Status” option and enter PAN & Aadhaar number.

‪@incometaxindiaofficial‬

3 weeks ago | [YT] | 0

Janani Services

Be honest 😆 Net taxable income above ₹12Lakhs?

1 month ago | [YT] | 0

Janani Services

Have you recevied your Income Tax Refund?

1 month ago | [YT] | 0

Janani Services

How you filed your ITR #incometaxreturnfiling #itr

5 months ago | [YT] | 0

Janani Services

PPF interest taxable under the old regime or the new regime?

7 months ago | [YT] | 0

Janani Services

Have you filed your last year ITR ? (FY 23-24)

8 months ago | [YT] | 0

Janani Services

Now the country will see a surge of Income of majority of People from 6.95 Lakhs to 11.95 Lakhs

A person earning Rs 6.95 Lakhs upto AY 2025-26 will suddenly start earning Rs 11.95 Lakhs from AY 2026-27

#itr #budget #income #incometax

10 months ago | [YT] | 0

Janani Services

The due date for filing belated returns u/s 139(4) and revised returns u/s 139(5) of the Income Tax Act, 1961 for AY 2024-25 in the case of resident individuals has been extended from from 31st December, 2024 to 15th January, 2025. Please refer to CBDT Circular No. 21/2024 dated 31st December, 2024 for details #incometaxindia #itr #belatedreturn #cbdt

11 months ago | [YT] | 0

Janani Services

Kind Attention Taxpayers!

✅Having a validated bank account is essential for receiving of refunds.

✅An already validated bank account will require re-validation after updation of account details consequent to change in branch, IFSC, Merger of bank, etc.

For Updating existing bank a/c:

Pl visit incometax.gov.in/iec/foportal/ ➡️Login ➡️ Profile ➡️ Choose Bank Account ➡️ Revalidate ➡️Update Bank Account Details such as a/c No., IFSC, a/c type ➡️Validate.

For Adding a new bank a/c:

Pl visit incometax.gov.in/iec/foportal/ ➡️ Login ➡️ Profile ➡️ My Bank Account ➡️ Add Bank Account ➡️Validate.

1 year ago | [YT] | 1

Janani Services

IT return is not filed for AY2021-22. You may file an updated return of income u/s 139(8A) before 31-03-24.-IT dept what if no action from us
Here's what could happen if you take no action on the notice from the Income Tax department regarding the unfiled ITR for Assessment Year (AY) 2021-22 (financial year 2020-21):

Penalties and Interest: You'll likely be charged a penalty for filing a belated return. The amount can vary depending on the delay and your tax liability. Interest will also accrue on any taxes owed from the original due date (typically July 31st, 2021).
Increased Scrutiny: The Income Tax department may select your return for further scrutiny due to the late filing. This could involve requests for additional documentation and potential delays in processing your return.
Collection of Tax: In the worst-case scenario, the department could take steps to collect any tax liability, including measures like seizing your bank accounts or assets.
It's important to avoid these consequences. Here's what you should do:

File a Belated Return: Even though the deadline for an ITR-U has passed, you can still file a belated return. This will help minimize penalties and interest compared to complete inaction.
Contact a *Chartered Accountant*: Consulting a tax professional is highly recommended. They can assess your situation, calculate potential penalties and interest, and guide you through the process of filing a belated return.
Remember, it's always better to address tax issues proactively. Ignoring the notice will only lead to further complications and potentially higher costs in the long run.
#updatedreturn #itr

1 year ago | [YT] | 1