I-T dept enables tax audit utility form for FY’20, FY’21

I-T dept enables tax audit utility form for FY’20, FY’21 The income tax Department has enabled the tax audit utility form on its portal for financial year 2019-20 and 2020-21. Under the I-T Act, taxpayers are required to get their accounts audited if the sales, turnover or gross receipts of business exceed Rs 10 crore, […]

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Aadhaar not a valid document for proof of age, says high court

Aadhaar not a valid document for proof of age, says high court CHANDIGARH: The Punjab and Haryana high court has made it clear that the Aadhaar card cannot be used for proof of age as no documentary details are usually sought at the time of applying for the Unique Identity Development Authority of India’s (UIDAI’s) […]

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Income Tax Return: ITR filing deadline to get extended due to glitches

Income Tax Return: ITR filing deadline to get extended due to glitches As the Income Tax website faces glitches, the Central Board of Direct Taxes (CBDT) is said to have planned to further extend the deadline for filing income tax returns (ITR) for the financial year 2020-21 (AY 2021-22). According to a report, earlier the […]

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RBI cancels licence of this bank? Do you have account in it?

RBI cancels licence of this bank? Do you have account in it? The Reserve Bank of India (RBI) on Wednesday said it has cancelled the licence of Dr Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd, Nilanga, Latur, as it does not have adequate capital and earning prospects. Also, the Maharashtra-based bank with its current financial […]

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