Tax burden on a minority: ITR filing has improved, but how long can less than 3% support the rest? The direct tax-to-GDP ratio increased from 5.62% in 2013-14 to 6% in 2022-23. 2 years agoApril 1, 2024
Income Tax Calendar 2024: Know these important tax-related dates Adhering to tax deadlines plays a pivotal role in avoiding penalties, interest charges, and ensuring smooth income tax return (ITR)… 2 years agoJanuary 3, 2024
Record 8.18 cr ITRs filed for AY 2023-24 till Dec 31: Income Tax Dept It is heartening to note that a large number of taxpayers did their due diligence by comparing data of their… 2 years agoJanuary 1, 2024
Income Tax Returns for FY 2022-23 deadline ends today! Here’s your guide on how to file belated ITR Section 234F imposes a penalty of ₹5,000 or ₹1,000 for small taxpayers, and Section 234A incurs a monthly penal interest… 2 years agoDecember 31, 2023
Filing belated ITR for FY 2022-23 (AY 2023-24): Know all about ITR Form 1, 2 and other key eligibility criteria But for those filing ITR 4, they’ll have to use Form 10-IEA to choose not to be a part of… 2 years agoDecember 26, 2023
Income Tax Return: How money received via Will or Inheritance from abroad is taxed in India A taxpayer acquiring foreign assets by way of inheritance would be required to furnish the details of the same in… 2 years agoNovember 21, 2023
Form 10/10BB rule change: Details of donors giving above Rs 50,000 and their relatives required Form No. 10B/ 10BB is the audit report required to be furnished in case a taxpayer is a fund or… 2 years agoOctober 19, 2023
I am a senior citizen holding Income Tax records for 40 years. Am I supposed to keep them forever? How long should your keep old ITR records: ITR filers should retain their records/documents for up to 10 years from… 2 years agoSeptember 19, 2023
Advance Tax payment rules for salaried employees, senior citizens, NRIs, professionals: Key points Advance Tax Payment Rules 2023: Every individual, including salaried employees, is required to pay advance tax if his/her tax liability… 2 years agoSeptember 15, 2023
ITR processing time reduced to 10 days but your Income Tax Refund may be stuck. Here’s why The average ITR processing time for returns filed for AY 2023-24 has been reduced to 10 days compared to 82… 2 years agoSeptember 6, 2023
Received Income Tax Refund or intimation? You can still file revised ITR to rectify mistakes – Know how Revised Income Tax Return: every taxpayer (including belated ITR) is allowed to file the revised ITR under Section 139(5) if… 2 years agoAugust 19, 2023
Claimed HRA in ITR below Rs 1 lakh to evade PAN submission? You can get an Income Tax Notice Income Tax Notice news AY 2023-24: Salaried employees can get a notice for making fake HRA claim. 2 years agoAugust 16, 2023
7 types of Income Tax Notice ITR filers may receive for AY 2023-24 Income Tax Notice Types for AY 2023-24: If you have filed Income Tax Return for AY 2023-24, you may receive… 2 years agoAugust 17, 2023
New Tax Regime gains traction as ITR filers make a notable shift in AY 2023-24: Report ITR filing trends 2023: There has been a notable shift in taxpayer preference, with 15% of individuals choosing the New… 2 years agoAugust 7, 2023
Salaried employees are getting income tax notices. Here’s how to respond How salaried employees can respond to Income Tax Notice: Experts say salary individuals should ensure sending a timely response to… 2 years agoAugust 7, 2023
ITR Filing Last Date AY 2023-24: Missed Income Tax Return Due Date? Here’s What You Can Do Now Income Tax Return Last Date AY 2023-24: Filing ITR is a responsible financial practice that contributes to the smooth functioning… 2 years agoAugust 6, 2023
ITR filing record: Before last date, 53 lakh new taxpayers filed Income Tax Return for AY 2023-24 ITR filing AY 2023-24: Before the last date to file ITR without any penalty, more than 53 lakh new taxpayers… 2 years agoAugust 2, 2023
Belated ITR Filing AY 2023-24: Last Date, Fees, Penalty for Late Income Tax Return FY 2022-23 Belated Income Tax Return Filing AY 2023-24: If you have failed to file your ITR for AY 2023-24 by July… 2 years agoAugust 1, 2023
