Wed, Nov 13, 2024
There has been a significant increase in income tax compliance in the country with more than five-fold growth in the Rs 50 lakh-plus income category, according to sources.
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Sat, Oct 26, 2024
ITR Filing Deadline Extend: The income tax department has announced a 15-day extension for corporates to file their income tax returns, moving the deadline to November 15 for the assessment year 2024-25.
Wed, Sep 04, 2024
Income Tax Return Filing: House Rent Allowance (HRA) is a key component in the salary of an employee taxpayer. It can help them save considerable tax. But sometimes, such taxpayers get greedy and use wrong methods to cheat the Income Tax Department (I-T Department). But the I-T Department has its own ways to catch such violators.
Mon, Jun 03, 2019
The system and tax formulation is different when it comes to winning money from lotteries, races, bets etc.
According to the Income-Tax department, a senior citizen is defined as someone whose age is 60 years but less than 80 years during the respective year.
Sat, Jun 01, 2019
Earlier ITR-1 form asked for an aggregate amount of 'Income from other sources', but in this year's revised ITR-1 a provision has been introduced to put detailed break-up of incomes including 'Income from other sources'.
Fri, May 31, 2019
Gifts in form of either cash, cheque, draft, etc. they all are taxable. However, not all have to pay taxes even if they have received over Rs 50,000 cash gift.
Tue, May 28, 2019
Form ITR5 is for taxpayers other than individuals, Hindu Undivided Family, companies and persons filing Form ITR-7.
Mon, May 27, 2019
An individual or company is needed to communicate their incomes and gains in a statement to the department.ze
Sat, May 25, 2019
Several steps have been taken to lighten the burden on the victims of Fani
ITR filing: CBDT has extended the due date of depositing tax deducted at source (TDS) for the month of April, 2019 from 7th of May, 2019 to the 20th of May, 2019.
The Central Board of Direct Taxes (CBDT) has recently revised the norms related to Form 15 H, which is applicable to persons aged above 60 years. The new rule will consider the provision of Section 87A, according to CBDT notification.
Wed, May 22, 2019
FDs have higher interest rates when compared to other savings accounts. Proceeds from FDs can be availed monthly, quarterly, half year and annually.
Tue, May 21, 2019
The Income Tax department has introduced many ways to e-verify returns.
Thu, May 16, 2019
A little over 2 weeks are left for May to end, there are a host of due dates you would not want to miss out in regards to your tax-related services.
Wed, May 15, 2019
The more you delay your ITR filing, the likelihood of being slapped with penalties increases.
Tue, May 14, 2019
The ITR3 form is applicable to an individual or a Hindu Undivided Family who has any income chargeable to tax under the head business or profession.
Mon, May 13, 2019
ITR4 form is called as SUGAM, and can be used by an Individual/HUF/Firm (Other than LLP) whose total income for the year.
Mon, May 06, 2019
The CBDT in its statement on Monday said the 6.74 crore income tax returns filed in the 2017-18 fiscal included 5.47 crore income tax returns (ITRs) for Assessment Year (AY) 2017-18.
ITR form 2 is meant for those taxpayers who are individuals and Hindu Undivided Family (HUF) not carrying business or profession under any proprietorship.
Thu, May 02, 2019
ITR filings: The process of ITR filing needs various documents, therefore, ahead of the last date for filing your Income Tax Return for the assessment year 2019-20, July 31, 2019, you should ensure that it is done prior to the scheduled date.
Wed, May 01, 2019
There are various ITR forms available such as ITR1, ITR2, ITR3, ITR4, ITR5, ITR6 and ITR7 that must be duly filled depending on income category of a taxpayer.
Tue, Apr 30, 2019
Income tax officers and GSTN, the company that handles the information technology backbone of the new indirect tax regime, will also decide on the modalities for "automatic" and "spontaneous" exchange of data.
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