A week to go for Income Tax Return Filing - Act on time if you expect a Bronze / Sliver / Gold 'Certificate of Appreciation' from IT
Indians are getting ready to file their Income Tax Returns. After extensions, the last date for filing individual tax returns for AY20-21 filing is 31st December 2020, and most likely it won't be extended again. Some Indian Income tax payers are eligible to receive a "Certificate of Appreciation" from the Income Tax Department. This initiative of the Modi government is a step towards acknowledging the contribution of taxpayers. Taxpayers are eligible to receive a certificate of appreciation based on the amount of tax they paid. Depending on the amount of tax paid, the four categories identified by CBDT for individual taxpayers are: Platinum: For those taxpayers who have contributed Rs 1 crore and above as tax Gold: For those taxpayers who have contributed between Rs 50 lakh and Rs 1 crore as tax Silver: For those taxpayers who have contributed between Rs 10 lakh and Rs 50 lakh as tax Bronze: For those taxpayers who have contributed between Rs 1 lakh and Rs 1