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Income tax return: Relief by Tax Dept ahead of ITR filing due date

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Income tax return: Relief by Tax Dept ahead of ITR filing due date

The income tax department said that the Central Direct Taxation Commission (CBDT) has relaxed the verification of the electronic income tax return (ITR) for the 2020-21 assessment year (AY) at one time.

Taxpayers must remember that the last date to provide ITR for 2021-22 is December 31, 2021.

“CBDT provides a one-time relaxation for the verification of electronically submitted ITRs in 2020-21, which are waiting for verification because they have not submitted ITR-V forms or are waiting for electronic verification,” Indian income tax wrote on Twitter.

The decision was made after a large number of ITRs submitted electronically in the 2020-21 fiscal year are still awaiting processing by the income tax department, because they need to receive a valid ITR-V form from CPC, Bengaluru or CPC in a statement Zhong said that the relevant taxpayers.

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CBDT will relax the submission of ITR-V/electronic verification at one time to resolve taxpayers’ complaints related to unverified ITRs in the 2020-21 fiscal year and regulate such ITRs. Digital signature, taxpayers need to verify the income tax return within 120 days from the date of uploading it.

Taxpayers can complete the verification process through Aadhaar OTP, log in to the electronic filing account through online banking, and mail the officially signed ITR-V entity copy to the centralized processing center of the income tax department in Bangalore.

Complete News Source : INDIATODAY

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.

Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.

Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.

Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.

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The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.

BCCI’s tribute

Additionally, the BCCI issued a statement about his demise.

“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.

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His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.

Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.

Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.

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