Income Tax

Budget 2021 Expectation: More time needed for buying affordable house to avail tax benefit

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

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Don’t have taxable income? You still need to file income tax return in these cases

Let's take a look at the categories of individuals who are mandatorily required to file income tax returns irrespective of their income threshold.

Income Tax returns filing deadline approaching: Over 5.08 crore ITRs for 2019-20 filed till January 5

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

Income Tax returns filing deadline approaching: Over 5.08 crore ITRs for 2019-20 filed till January 5

Not filing ITR of your own? You may not get income tax refund

The Income Tax Department wants people to file ITRs of their own and have taken steps to reduce the dependency on intermediaries.

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Budget 2021 Expectations: Should common taxpayer expect major rationalization in income tax slabs and rates?

Budget 2021: The FM could announce certain savings schemes or bond issuance like tax-free bonds to raise resources to fund such government expenditure.

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Smart Investing: How to use equity rally for tax harvesting

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

Over 5 crore ITRs for 2019-20 filed till January 4

Over 2.7 crore ITR-1 have been filed till January 4, lower than 3.09 crore filed till September 4, 2019.

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Income Tax Return: Missing Jan 10 due date would straightway attract double late fee

To ensure that assesses file their income tax return (ITR) on time, the provision of late fee up to Rs 10,000 was introduced in the Union Budget 2017.

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Over 4.84 crore Income Tax Returns for 2019-20 filed till December 31

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.

income tax returns filed this year

Income Tax Return: Over 4.73 cr ITRs filed till December 30 for 2019-20

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

The Income-tax department also submitted that the number of returns filed this year has already exceeded by about 6% to 5.95 crore as on January 10, 2021, compared with 5.62 crore as on August 31, 2019 (last date of return filing).

Still waiting for your income tax refund? Just filing ITR is not enough to get it

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.

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Deadlines extended for filing GST, declaration under Vivad Se Vishwas scheme and Income Tax returns

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.

Further, in order to provide relief for the third time to small and middle-class taxpayers in the matter of payment of self-assessment tax, the due date extended, the government said.

Extension of ITR Filing Last Date! One can file income tax return for FY 2019-20 by this date

Direct Tax professionals had urged the FM to extend the last date for filing tax audit report, income tax returns for audit cases.

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Income Tax Return: Over 4.54 cr ITRs filed for fiscal 2019-20 till December 29

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

The data released by the tax department showed that over 2.52 crore ITR-1 have been filed till December 29, 2020, lower than the 2.77 crore filed till August 29, 2019.

Should you file income tax return if your income is not taxable?

If a person is also required to file his/her return of income if the income does not exceed the taxable limit? Find out.

Income Tax Return Filing AY 2020-21 Latest Updates: Govt extends ITR filing deadline

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

income tax return due date

Around 4.37 cr ITRs for FY20 filed till December 28

The due date has been extended from July 31?and October 31, 2020, respectively in view of the COVID-19 pandemic.

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ITR filing made easy with Jhatpat Processing – Here’s all you need to know

As the deadline for filing ITR for the Financial Year 2019-20 is drawing closer, the Income Tax Department has come up with the 'Jhatpat Processing' feature.

ITR, Filing, Last Date, extension, income tax return, financial year

Over 4.23 cr ITRs for fiscal 2019-20 filed till December 27

"More than 4.23 crore Income Tax Returns for AY 2020-21 have already been filed till 27th of December, 2020. Have you filed yours? If not filed as yet, don't wait. File your #ITR for AY 2020-21 TODAY!

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ITR filing for AY 2020-21: Filing your income tax return? Avoid these mistakes

Filing your income tax return? Let’s dig deep into the common errors committed and see how you can keep them at bay.

ITR Due Date: Over 4.15 crore Income Tax Returns for FY2019-20 filed till December 26

The deadline to file ITR by individual taxpayers for FY2019-20 ends on December 31, 2020, while the same for taxpayers whose accounts require to be audited is January 31, 2021.

The due date has been extended from July 31 and October 31, 2020, respectively in view of the COVID-19 pandemic.

3.97 crore I-T Returns filed for 2019-20 fiscal till Dec 24

The deadline to file I-T returns by individual taxpayers for the 2019-20 fiscal (AY 2020-21) ends on December 31, 2020, while the same for taxpayers whose accounts require to be audited is January 31,

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Extend Income Tax Return filing last date for audit cases and AGM time frame: Professionals urge Sitharaman

Last date for filing tax audit report, income tax returns for audit cases should be extended, Direct Tax professionals have urged Finance Minister Nirmala Sithraman.

Income Tax Return Filing

Budget 2021: Will benefit of standard deduction be extended to taxpayers under the new tax regime?

Budget 2021 Expectations of salaried: It is expected that the benefit of standard deduction should also be available to taxpayers opting for the new tax regime.

He said reducing the time bar on reopening of past assessments to 3 years from 6 years has removed a major irritant.

Your queries: No need to file ITR if gross total income below basic exemption limit

Individual taxpayers are required to file tax returns compulsorily, before the due date, if their gross total income of the financial year, as computed in accordance with the provisions of the law, su

The exemption limit for assessment year 2020-21 for an individual is Rs 2.5 lakh.

Income Tax Return: 3.75 cr ITRs filed for 2019-20 fiscal till December 21

"Do you know that 3.75 crore taxpayers have already filed their Income Tax Returns for AY 2020-21 till 21st December, 2020? Have you filed yours yet? If not, File NOW!," the Income Tax department twee

The data released by the tax department showed that over 2.52 crore ITR-1 have been filed till December 29, 2020, lower than the 2.77 crore filed till August 29, 2019.

Income Tax Return: Whether to show pending salary, contributions in ITR or not

Once the salary is actually received, the employer's contribution to NPS is also treated as received, even if it is not deposited into the NPS account.

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Income Tax Calculator, Budget 2019, How to Calculate Income Tax

 

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