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IT department sends reminder as deadline to verify tax returns approaches

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3 years ago

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IT department sends reminder as deadline to verify tax returns approaches

Statements that are not verified in a timely manner are considered “unsubmitted” and will therefore bear all consequences applicable to non-submitted statements. However, if absolutely necessary, taxpayers can ask the IT department to allow a delay in reviewing the return. Such declarations can be submitted and will only be considered “valid” once the application has been approved by the tax authorities.

Typically, ITRs are certified within four months of submission. However, in December last year, the IT department gave taxpayers until February 2022 to review their AY21 returns.

With the deadline to review the Income Tax Return (ITR) for the 2020-21 tax year looming, the Income Tax Office has urged taxpayers to review their tax returns. If this is not confirmed, the ITR file will be considered “incomplete”, the IT department warned.
“Don’t miss your last chance to confirm the 2020-21 ITR. If not verified, the ITR submission is incomplete. The last review date for 2020-21 is 28 February 2022. Visit incometax.gov.in, “It said on Twitter on Sunday.
Validation of tax returns is required, which can be done electronically or by submitting a physical copy of the online return, as this is a way of substantiating the information stated in it – a requirement for legal purposes.

Statements that are not verified in a timely manner are considered “unsubmitted” and will therefore bear all consequences applicable to non-submitted statements. However, if absolutely necessary, taxpayers can ask the IT department to allow a delay in reviewing the return. Such declarations can be submitted and will only be considered “valid” once the application has been approved by the tax authorities.

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Typically, ITRs are certified within four months of submission. However, in December last year, the IT department gave taxpayers until February 2022 to review their AY21 returns.

Complete News Source : HINDUSTAN TIMES

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

Published

3 weeks ago

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October 10, 2024

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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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