Income Tax

Union Budget 2021: What taxpayers can expect from FM Nirmala Sitharaman on the personal tax front

Union Budget 2021 India: Here's the taxpayers' wish list on the personal tax front emanating from COVID-19's adverse impact and other circumstances.

Gujarat High Court refuses to extend I-T returns filing date

Due to Covid-19 pandemic, the due dates for filing of return/tax audit have already been extended on three occasions. The latest extension is from January 31 to February 15 for assesses whose accounts

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).

Investing in foreign stocks? Know FEMA and income tax implications

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.

I-T dept launches online facility to tip it off on illegal foreign assets, benami properties

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.

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Income Tax return: 5% more I-T returns filed this year

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,

Over 1.49 crore ITR-4 were filed till January 10, as compared to 1.29 crore filed till September 10, 2019.

Last date to file Income Tax Return AY 2020-21: Over 25 lakh ITRs filed till 9 pm today

The last date of filing ITR for AY 2020-21 is today.

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

Income Tax Return: Visiting 80D page is a must even if you don’t have health insurance

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.

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Income Tax Return: Over 5.27 crore ITRs for 2019-20 filed till January 7

More than 5.27 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till January 7, the Income Tax Department said on Friday.

income tax return

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.

income tax, income tax return, ITR, due date of filing return, late fee for not filing return before due date, Section 234F, Income Tax Act

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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