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New Income Tax Return, TDS payment and belated ITR due dates amid Covid-19 second wave – All details here

Extended Income Tax Timelines due to Covid-19 second wave: The Income Tax department recently extended certain timelines to ease the burden off taxpayers amid Covid-19 second wave.

income tax return, tds

How India is leading by example with its faceless E-assessment system for income tax

The most important aspect of new procedure is coverage of ‘Best judgement assessment’ in faceless Assessment Scheme.

Your Queries – Income Tax: Gains from share trading taxed under business profit, file ITR 3/4

Separate disclosure of each source of income shall have to be made in the ITR Form, whether or not you choose to be governed by the new regime of taxation.

non-resident is required to file an Income Tax Return only if his total income, from all sources (after giving effect to exemption in respect of income from NRE account) exceeds maximum amount not chargeable to tax (i.e. Rs 2.5 lakh).

बड़ी राहत: FY20 का ITR भरने से चूक गए या गलती हो गई तो न घबराएं, 31 मई तक अभी भी है मौका

FY20 का ITR भरने से चूक गए हों या उसमें गलती हो गई हो तो अभी भी आपके समय है.

Government extends timelines for tax compliance ITR for FY20 can be filed till May 31

Govt extends timelines for tax compliance, ITR for FY20 can be filed till May 31

Nangia & Co LLP Partner Shailesh Kumar said the government has given relaxation to income taxpayers for various compliances till May 31, 2021.

India’s tax revenue below potential by about 4% of GDP: 15th Finance Commission Chairman NK Singh

Speaking at the CSEP-IMF event on "Securing Sustainable Finances and Medium-term Fiscal Frameworks: International Experience and Relevance for India", Singh said there is a need to redo direct and indirect taxes and bring abo

India's tax revenue below potential by about 4% of GDP: 15th Finance Commission Chairman NK Singh

म्‍यूचुअल फंड में निवेश से मिला है डिविडेंड, कैसे बचाएं TDS? ये फॉर्म आपकी करेगा मदद

Save TDS on Mutual Fund Dividend: अगर आपने डिविडेंड देने वाले प्रोडक्‍ट मसलन म्‍यूचुअल फंड में निवेश किया

Save TDS on Mutual Fund Dividend

Key Budget proposals effective from new fiscal 2021-22: Income tax rules, dividend relief, privatisation, more

The new financial year has started From April 1, 2021, and with it, rules and announcements made by Finance Minister Nirmala Sitaraman in the Union Budget 2021-22 have come into effect.

Union Budget 2021-22

AY 2021-22 के लिए नए ITR फॉर्म जारी, आपको कौन सा है भरना? यहां से करें डाउनलोड

New ITR Forms: आकलन वर्ष 2021-22 के लिए नया आयकर रिटर्न (आईटीआर) फॉर्म जारी कर दिया गया है.

New ITR Forms

No Income Tax on salary income of Non-Residents Indians in Gulf countries! Sitharaman says it is exempt

Finance Minister Nirmala Sitharaman on Thursday said salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India.

Finance Minister Nirmala Sitharaman.

TDS Calculation: Rs 1 lakh Tax Deducted At Source on Rs 20 lakh cash payment to non-filers – New rule explained

TDS Payment Rules 2021 (Section '206AB (I) Explained): The Finance Act 2021 recently cleared by the Parliament has introduced a "Special provision for deduction of tax at source for non-filers of income-tax return."

New TDS rule 2021 for non filers explained.

Income Tax: रिश्तेदारों से मिले गिफ्ट पर कहां मिलेगी टैक्स छूट, कहां देना पड़ेगा आयकर

Income Tax Saving: आपको मिले गिफ्ट भी भारत में आयकर के दायरे में आते हैं.

Income Tax gifts from relatives get tax exemption know all details

Income Tax Alert! Employees Provident Fund, LTC to ITR Filing rules – 10 big changes to know before April 1

Income Tax Changes: March 31 is an important date for income taxpayers in India as a number of changes are going to kick in from April 1.

rupee

Income Tax: इन पांच पॉपुलर स्कीम्स में निवेश से ले सकते हैं टैक्स छूट का फायदा, सेक्शन 80C के तहत डिडक्शन

आइए ऐसे पांच पॉपुलर तरीकों को जानते हैं, जिनमें सेक्शन 80C के तहत टैक्स छूट मिलती है.

income tax savings you can avail benefit under section 80C under these schemes

Income Tax for non-residents: Stranded in India & facing double taxation? New CBDT circular explained for you

Income Tax for non-residents: Due to the coronavirus outbreak and subsequent lockdown last year (2020), many non-residents were stuck in India due to the stringent travel restrictions

income tax

Your Queries – Income Tax: Assessee can claim deduction of up to Rs 50 lakh under Section 54EC

Long term capital loss can be set off only against long term capital gain

As per the provisions of the Income Tax Act, long term capital loss can only be set off against long term capital gain.

I-T Refund: इनकम टैक्स विभाग ने 1.95 करोड़ टैक्सपेयर्स को भेज दिए 1.98 लाख करोड़, ऐसे चेक करें अपना स्टेटस

आयकर विभाग ने चालू वित्त वर्ष 2020-21 में अबतक 1.95 करोड़ टैक्सपेयर्स को 1.98 लाख करोड़ रुपये के

income tax refund iT department issued refund worth 1.98 lakh crore know how to check status

IT dept detects Rs 220 crore black income after raids on TN-based tiles manufacturer

The Central Board of Direct Taxes (CBDT), that frames policy for the tax department, meanwhile, said it was fully prepared to check and monitor the role of money in influencing voters.

Taxman has another trick up his sleeve under GST Act; here’s all you need to know

The objective of GST Audit is to ensure and promote the correctness of turnover declared, taxes paid, refund claimed & input tax credit availed, and to assess the compliance of Registered Taxpayers (RTP) with the provisions o

GST collections

Income Tax dept raids on Bengaluru liquor company leads to over Rs 870-crore blackmoney

"In all, the search and seizure action has resulted in the detection of total undisclosed income of Rs 878.82 crore," a statement issued by the Central Board of Direct Taxes (CBDT) said.

IT dept raids on Bengaluru liquor company leads to over Rs 870-crore blackmoney

Disputed tax cases worth Rs 97,000 crore offered for settlement under Vivad Se Vishwas scheme

So far, 1,25,144 cases have opted for the Vivad se Vishwas (VsV) Scheme, which is 24.5 per cent of the 5,10,491 cases that were pending at different legal fora, according to sources in the Department of Revenue (DoR).

Disputed tax cases worth Rs 97,000 crore offered for settlement under Vivad Se Vishwas scheme

Budget 2021: Finance Minister offers stability in tax regime even as India hunts for growth

Union budget 2021: In the last couple of years, the Government has been rationalising the rates of corporate tax, slashing them to 15% for new manufacturing entities, and 22% for all corporates.

The Railways has been given the highest allocation of Rs 1.1 lakh crore. The Railways had ensured that transportation of goods went on unhindered during the pandemic, and it is expected to chug India forward in 2021.
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Income Tax Calculator, Budget 2019, How to Calculate Income Tax

 

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