Salaried individuals can change choice of tax regime when filing ITR TDS under Section 194A (on interest income) is deducted if aggregate interest income exceeds Rs 50,000 (in case of a… July 21, 2020 05:00 IST
No need to meet tax officer in case of scrutiny notice; use faceless assessment: I-T Dept According to an official source, the department has disposed of 7,116 cases under the first phase of the faceless assessment… July 20, 2020 15:37 IST
Have discrepancies in last year’s ITR? I-T Dept gives you a chance to rectify before serving notice CBDT starts an e-campaign on Voluntary Compliance of Income Tax for FY 2018-19, which will be of 11 days –… July 20, 2020 13:51 IST
Taxpayers take note: Now get more info in new Form 26AS – Know the change Till last year, the Form 26AS, pertaining to a specific permanent account number (PAN), used to give information regarding tax… July 19, 2020 06:45 IST
CBDT to launch e-campaign to ask certain taxpayers to file returns or report accurate details CBDT said that under the e-campaign the taxpayers will be able to access details of their high value transaction related… July 19, 2020 05:45 IST
Eye on non-filers: Income Tax dept to launch e-campaign on voluntary compliance The objective of the e-campaign is to facilitate taxpayers to online validate their tax/financial transaction information available with the I-T… July 18, 2020 18:44 IST
Money order: NRI asked to pay tax on Swiss bank account she denies owning The HSBC account information was received by several governments, including India, the US, the UK, Canada and Australia, after a… July 18, 2020 08:00 IST
I-T refunds worth Rs 71,229 crore issued during April 8-July 11 CBDT reiterated that taxpayers should provide immediate response to the emails of I-T department for quick processing of their refunds. July 18, 2020 01:30 IST
Income Tax refunds worth Rs 71,229 crore issued to 21.24 lakh taxpayers during April 8-July 11 The Central Board of Direct Taxes (CBDT) further asked taxpayers to provide immediate response to emails of the department for… July 17, 2020 18:40 IST
5 tax saving options other than Section 80C: Savings and protection schemes for all taxpayers From saving for your retirement to keeping your family protected from medical bills, these tax-saving avenues are a perfect mix… July 16, 2020 13:54 IST
No need to file ITR on capital loss if no other income and no refund sought For computation of long term capital gains, indexed cost of acquisition, indexed cost of improvement and expenditure incurred in connection… July 15, 2020 01:40 IST
Income Tax latest update: More time to file ITR for FY20, rectify FY19 returns The government has extended the deadline for filing ITR for FY20 to November 30 and has given a one-time relaxation… July 15, 2020 01:10 IST
Tax refunds for past years stuck in ITR filing process? You have an opportunity to get them now Apart from the statutory compliance, one of the motivating factors of filing Income Tax Return (ITR) is claiming the refund… Updated: September 16, 2020 20:14 IST
ITR filing incomplete due to non-submission of ITR-V Form? CBDT gives one time relaxation till this date The one-time relaxation to the taxpayers for verification of tax-returns is for returns which are pending due to non-filing of… Updated: July 13, 2020 20:44 IST
Withdrawing cash and not filing ITR? Now pay TDS on cash withdrawals above Rs 20 lakh CBDT said the data on cash withdrawal indicated that a huge amount of cash is being withdrawn by the persons… Updated: July 13, 2020 11:09 IST
CBDT asks taxmen to process income tax returns filed up to AY 2017-18 with refund claims by October 31 In order to clear old-pending income tax refunds of taxpayers till the financial year 2016-17, the CBDT had issued an… July 10, 2020 22:17 IST
Income Tax Benefits for Senior Citizens: Know the advantages that elderly people enjoy Senior Citizens between 60 and 80 years of age and Very Senior Citizens above the age of 80 years enjoy… July 10, 2020 16:55 IST
Post Office Schemes: PPF, NSC, SSY, SCSS and 5-year time deposit – Taxation, latest interest rates A look at five small savings post office schemes that helps reduce tax liability by investing a maximum of Rs… July 9, 2020 15:57 IST
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