Category: Income Tax

What if I miss Income Tax Return (ITR) Filing Deadline?

Thanks to those who eFile their taxes @ this Tax Season. For some reason, if you miss Income Tax Return (ITR) deadline this year, it’s not the end of the world. You can file your taxes using belated return type. Just login to to file in minutes.

Few simple questions may help you file your belated return with ease.

When is the Income Tax Filing (ITR) Deadline?

Typically, it’s Jul31st of every year, for AY 2017-18 it is Aug 5th, 2017

What if you miss the deadline for filing income tax returns?

No Worry, you can file your taxes using belated return type up to Mar 31st, 2018

What are different Return Types to choose while filing Income Tax Return (ITR)?

  1. Original: Income Tax Return to be filed for the first time on or before due date for the selected Assessment Year.
  2. Belated: Income Tax Return to be filed for the first time after due date
  3. Revised: Income Tax Return to be filed in response to a notice or a defective original return. Revised return can’t be filed in case of a belated return, which is filed for the same Assessment Year

Do you have to pay Penalty?

No. Good news is that the penalty for filing Income Tax Return after the due date is only applicable from AY 2018-19. The Government of India (GOI) Feb 2017 introduced a maximum late fee of Rs. 10,000 for delayed ITR filing by individuals.

What if there is an error in your ITR?

You can file a Revised Return for the Original before the end of the current assessment year i.e., before Mar 31st, 2018.

What about Aadhaar PAN Linking?

Deadline for linking Aadhaar, PAN cards, a must for filing ITR, is Aug 31st 2017. Without it your ITR won’t be accepted. There are few exceptions to this such as those who are senior Citizens (Age > 80 years) OR who are residing in the States of Assam, Jammu and Kashmir and Meghalaya OR a non-resident as per the Income-tax Act, 1961; OR not a citizen of India. Link Now

Call, Chat, Connect @

ITR Fastest eFiling

Generally, most of the tax payers spend considerable time in preparing the taxes to make sure of accuracy, savings, and possibly to plan ahead for the next year taxes. While this is imperative to spend more time on Tax Portal, eFiling of your prepared taxes shouldn’t be taking long time.

While other portals in the market takes minutes to hours, Tax eFiling takes just few seconds to a minute and we send acknowledgement and confirmation of eFiling with in few seconds to a minute.

Compare ANY ERI Tax Portal #proud to #announce#EZTax #eFiling is the#Fastest in #India. Another reason

Prepare and eFile TDS by 31st Jul

e-File your TDS statement for the Quarter ending 30th Jun 2017 on or before 31st July 2017. Visit and see how quickly you can generate FVU file?

Online Self Service Pricing per FVU generation is just Rs. 249/- lowest possible. In case you need our CA to file on behalf of you, please select Assisted TDS returns @ 949 / Quarter.

Handling IT Notices

We see substantial raise in related inquiries during the 1st two weeks in Jul 2017, hence this post to advise Tax Payers in handling the IT Notices.

Most important thing when you get an IT notice is not to ignore it, as of today, pretty much everything is linked with Aadhaar, PAN, Bank Accounts, Digital Wallets, Mobile Numbers. Income Tax department is getting smarter day-by-day towards a sophisticated, well connected tax system.

Possible Common Reasons for getting an IT Notice

  1. Reminder to file tax returns
  2. Scrutiny at random
  3. Discrepancy in your income tax returns
  4. Errors in TDS Amount Deducted
  5. Ignoring income received from the previous employer
  6. Demanding a proof of documentation
  7. High Value Transactions not matching with Income declared
  8. Transferring the asset in the name of spouse or children
  9. High number of Gift Transactions
  10. Not depositing the full amount of tax assessed before the due date
  11. Income Tax Return not filed or filed after the due date
  12. Non-disclosure of assets
  13. Non-disclosure of Foreign Income
  14. Investments in the name of family members

How to get Help ?

When you received IT notice, first thing to do is not to be panic, Visit, Register if not already, select Tax Consultation, just take a photo of your IT Notice and upload, provide additional information if necessary, and pay to get Tax Help Online.

Additional information @ Tax Consultation from


HSN Smart Search from EZTax

GST for Goods and Services is determined based on the HSN code or SAC code of an item that you are transacting with. As a business owner, Accountant, it’s vital to understand the these codes to record, and file GST returns.

Smart HSN Search

EZTax India developed an intuitive way to find HSN Code for this purpose. Just type a keyword to find the HSN Code, Description, CGST Rate, IGST rates all in one search.

HSN Code Requirement

HSN codes are required while filing your GST returns. will help you in this regard, and below is the basic criteria based on the entities Annual Turnover.

Annual Turnover HSN
Up to 1.5 crore No HSN required
1.5 – 5 crores First 2 digit of the HSN code
More than 5 crores First 4 digit of the HSN Code

Mandate: Linking of Aadhar with PAN

The linking will become mandatory from July 1, and it’s not mandatory to link before July 1. If you are not able to link it before July 1, your PAN will not become invalid automatically. After July 1, the linking will become mandatory and the government may declare a date after which the PAN not linked to Aadhaar will become invalid. The government has not declared that date yet.

Mandatory Provision of Rotation of Auditors

An individual auditor cannot act as auditor for more than 5 consecutive years. After completion of his tenure company have to appoint one more auditor in his place. And first auditor eligible only after 5 years completion of his tenure as auditor in that company.

Section 139(2) of the Companies Act, 2013 (the Act) has mandated all listed companies and certain categories of unlisted public companies and private companies to mandatory rotate their auditors (whether such auditor is an individual or a firm) once their auditor has served office as an auditor for a period of 10 or more consecutive years (Rotation Period). In this regard, the third Proviso to Section 139(2) of the Act has provided a moratorium period, wherein companies incorporated prior to 1 April 2014, have been provided a time period of 3 years from such date to comply with the requirement to rotate their auditors. Therefore, beginning 1 April 2017, all companies who are required to rotate their auditors under the Act, will have to rotate their existing

EZTax Virtual Accounting Services (VAS)

Connecting with SME business around the country in understanding the GST readiness, potential gaps, and solutions, the pressure to get compliance on small, and mid scale enterprises is monumental that too when combined with demonetization after-effects, is some thing that the Govt India worth pondering in the interest of the country. Continue reading “EZTax Virtual Accounting Services (VAS)”