PARV Associates

19/05/2017

  To finalise the final set of rules for the new tax framework, GST Council today approved 7 GST rules in a meeting held in Srinagar, whi...

27/03/2017

18/03/2017

02/03/2017

The apex court made the provision that Parents can deny family property to negligent children However litigation is time consuming and stressful and costly More

03/02/2017

24/01/2017

https://m.facebook.com/story.php?story_fbid=303498620047743&id=282508965480042

16/09/2016

Raj weds Simran .. Ohhh wait. It's Income Tax Search team .🚨

29/08/2016

Wanna teach taxes ?

24/08/2016

Surging growth in Electronic filing of Income Tax Returns for F.Y. 16-17-reg.

The facility of e-verification of IT returns has been used by over 75.3 Lakh taxpayers till 5th August, 2016 as compared to 32.95 Lakh taxpayers last year till 7th September 2015. Of these Aadhar based E- verification was used by 17.68 lakh taxpayers during the current year as against 10.41 lakh taxpayers during the same period in 2015-16. In addition to these, 3.32 Lakh returns were digitally signed. Thus, over 35% of taxpayers have already completed the entire process of Return submission electronically. The Department encourages all taxpayers who have submitted their ITRs to use the e-verification as an easy alternative to sending their ITR-V form to CPC, Bengaluru.

As on 5th August 2016, over 226.98 Lakh e-returns had been filed in F.Y. 2016-17 as compared to 70.97 Lakh for the same period in FY 2015-16. The growth is over 9.8% even if comparison is made with E-returns filed of 206.55 Lakh as on 7th September 2015 (the extended due date in FY 2015-16) which is for a period more than a month later.

Taxpayers have appreciated the early processing of Income Tax Returns by CPC Bangalore last year. Keeping the same momentum, the CPC Bengaluru has already issued over 54.35 Lakh refunds totaling to Rs 14,332 Cr which includes 20.81 Lakh refunds for AY 2016-17 (current year returns) totaling to Rs 2,922 Cr till 5th August 2016.

The Department is committed to continuous improvement of taxpayer services and seeks the cooperation of all taxpayers in contributing their fair share of taxes voluntarily.

23/08/2016