The Income Tax Department has detected undisclosed income of over Rs 450 crore after it raided some Kolkata-based entities engaged in various businesses
If you are intending to invest in a foreign stock, you need to understand the implications under the provisions of the Foreign Exchange Management Act (FEMA) and the Income-Tax Act.
Once a complaint is filed, the department will allot a unique number to each complaint and the complainant would be able to view the status of the complaint on the weblink.
The tax department in a tweet said 5.95 crore ITRs for Assessment Year 2020-21 were filed till January 10, 2021, as compared to 5.67 crore ITRs filed for the previous Assessment Year by September 10,
In case an assessee has incurred the expenses allowed as deductions u/s 80D for his/her parents, he/she may also claim deductions for the same along with deductions for self and family.
Union Budget 2021 Expectations for Income Tax: Additional tax benefit of Rs 1.5 lakh is available u/s 80EEA of the Income Tax Act along with the original deduction of up to Rs 2 lakh on home loan inte
Returns in ITR-1 Sahaj are filed by individuals whose total income does not exceed Rs 50 lakh, while form ITR-4 Sugam is meant for individuals, Hindu Undivided Families (HUFs) and firms (other than Li
Budget 2021: The FM could announce certain savings schemes or bond issuance like tax-free bonds to raise resources to fund such government expenditure.
Book gains as price/NAV moves up, and buy the same share/MF scheme. It creates a higher acquisition cost for your ultimate taxation, when you sell the investment after an adequate period of holding
An analysis of the data showed that filing of tax returns by individuals for 2019-20 has slowed in the current year, while filing by businesses and trusts have increased.
Over 4.73 crore income tax returns (ITRs) for fiscal 2019-20 have been filed till December 30, amid the government extending the deadline for filing ITR till January 10 for individuals. Earlier, the d
In case you haven't got the last year's income tax refund amount yet, check if the bank account, which you had selected to get the refund, is prevalidated or not.
On the indirect tax compliance, the government has extended the date for filing annual returns under GST for financial year 2019-20 to February 28 from the previous deadline of December 31.
In the comparable period last year, 4.77 crore income tax returns were filed. At the close of deadline for filing ITRs without payment of late fees for fiscal 2018-19 (assessment year (AY) 2019-20), o
Income Tax Return Filing AY 2020-21 Latest Updates: The Income Tax Department said that more than 4.54 crore income tax returns for fiscal 2019-20 (Assessment Year 2020-21) were filed till December 29