Sen & Co.

03/08/2025

Trading in Cryptos / VDAs / NFTs ? It's mandatory to report cryptos for IT Filing in India. A cryptocurrency is a digital or virtual currency designed casually and later became popular, used as a currency in certain parts of the world, to buy things like a typical physical currency (Indian Rupee) do...

17/07/2025

The Income Tax Department extended the due date to file income tax returns (ITR) for AY - 2025-26

The Income Tax Department extended the due date to file income tax returns (ITR) from 31st July 2025, to 15th September 2025, for FY 2024-25 (AY 2025-26). The extended due date applies to individuals, Hindu Undivided Families (HUFs) and other taxpayers whose accounts are not required to be audited.

31/01/2025

Under section 139(8A) allows individuals to rectify any filing errors and update the previous income tax return or file a missed return. The concept of ITR U, the updated return, was introduced in the Union Budget 2022. The last date to file ITR for FY 2021-22 (AY 2022-23) is 31st March 2025. Non-fi...

21/12/2024

Trading in Cryptos / VDAs / NFTs ? It's mandatory to report cryptos for IT Filing in India. A cryptocurrency is a digital or virtual currency designed casually and later became popular, used as a currency in certain parts of the world, to buy things like a typical physical currency (Indian Rupee) do...

01/08/2024

What happens if you miss the due date of filing ITR?
Missing the ITR filing deadline for FY 2023- 24 ( AY 2024-25) will attract a late fees, depending on your income. According to Section 234F, a late of up to Rs 5,000 will be imposed if your income is more than Rs 5 lakh. For income below Rs 5 lakh, a late fee of up to Rs 1,000 will be levied.

Interest on tax due: According to Section 234A, if you have any tax liability and fail to file your ITR on time, you will be liable to pay interest at 1% per month or part of a month on the unpaid tax amount until the return is filed.

06/10/2023

23/03/2022

Sen & Co.
070017 86184

4.9 ★ · Tax consultant