What if investment proofs are not submitted?

“If you have not submitted your investment proofs, the employer has no choice but to deduct taxes and report them in the TDS section. However, if you make the investments before March 31 and declare it while filing the ITR for this year, you can apply for a tax refund,” says Archit Gupta, founder & CEO, Cleartax.

When should we submit investment declaration?

Investment declaration has to be done in the beginning of a financial year. Your employer asks you to declare your tax-saving investments for the year to be able to deduct tax accordingly from your monthly salary. Investment declaration is important for you because it can lead to higher in-hand salary.

What is the last date of tax Proof Submission 2021?

July 31: This is the last date to file income tax return for those taxpayers whose accounts are not required to be audited, usually salaried taxpayers, senior citizens etc. for FY 2020-21. The government has extended the date of filing ITR for FY 2020-21 to september 30, 2021 from the normal deadline of July 31.

What happens if I don’t declare tax?

For non filing of your ITR, the tax department can levy penalty a minimum penalty equal to 50\% of the tax which would have been avoided by you, in addition to the liability to pay the interest till the date you ultimately file your ITR after receiving notices from tax department.

How do I submit an investment declaration form?

Investment Declaration is made on Form 12BB that has to be submitted at the end of the financial year. Please note that this form is NOT to be submitted to Income Tax Department, but has to be submitted to your employer. In the first part of Form 12BB, you can fill the details required to claim tax deduction on HRA.

Do we need to submit proof for 80C?

The combined value of all investments u/s 80C cannot exceed Rs. 150,000 and you need to submit proofs for Section 80C investments. In case you can’t submit the investment proof to your employer, you can claim these deductions later when you file your income tax returns.

What happens if you don’t file it returns India?

If an individual forgets to file their ITRs, it can invite a penalty of up to ₹10,000. Besides this, a delay or pause in the filing of income tax returns also makes you liable to pay interest on the taxable amount you owe the government.

Is Accenture laying off people due to covid-19?

Accenture has already started laying off people due to Covid. But the trick they are doing is ‘confidentially’ sacking people. The first target is people on Bench, then contractors and in some projects people are randomly being put in PIP so that they resign. Suddenly I got a call from my previous manager and HR. Big Noooo. Do not join Accenture.

How many promotions does an ASE get in Accenture after joining?

But now due to a change in policy, an ASE will get promoted only after 24 months in Accenture. The promotions will happen only twice in one year. So after more than 2 Most of the new joiners are leaving Accenture due to their new policy changes.

Did Accenture acquire Exton consulting?

Accenture completes acquisition of Exton Consulting PARIS; Aug. 2, 2021 – Accenture (NYSE: ACN) has completed its acquisition of Exton Consulting, a French consulting firm providing banking strategy support to financial services clients across Europe. Accenture announced its intent to acquire Exton Consulting on June 18, 2021.

Why are most of the new joiners leaving Accenture?

Most of the new joiners are leaving Accenture due to their new policy changes. When I joined Accenture back in 2015 an ASE (Associate Software Engineer) would get promoted to SE (Software Engineer) in one year unless you are performing really bad. So my salary increased from 25k rupees a month to nearly 30k in one year.