Latest News on Assessment Year
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Assessment Year - Total results - 5
May 07, 2019
Did 2018-19 income tax e-filings drop by 1% or jump 19%? Answer depends on which data you are looking atKotak researchers, in the 30 April report, cited the income tax e-filings figures on the department website which showed a decline in FY 2018-19 to 6.68 crore from 6.74 crore in the previous fiscal (2017-18).
Feb 08, 2019
Only 61 individuals declared gross income of over Rs 100 cr in AY2017-18; over 2,000 benami transactions detected: GovtThe number of individuals disclosing a gross total income of more than Rs 100 crore in a year in his/her return of income filed with the Income Tax Department was 24 in assessment year 2014-15.
Jan 24, 2019
Not filing income tax returns will cost you dearly as ex-parte assessment proceedings can be troublesomeThe CBDT is aware that despite indulging in high value transactions, there may not be any taxable income to warrant filing of return.
Jan 22, 2019
People carried out high value transactions to get 21 days to file IT returns, submit response; no response to invite action: CBDTIn cases where no return is filed or no response is received for assessment year (AY) 2018-19 within the stipulated time, the department would consider initiating proceedings under the Income Tax Act 1961.
Jun 01, 2018
Got your first pay cheque and found yourself eligible for tax? Here's how you go about paying your duesThe first job is imperative for every individual but as soon as an employee receives the first pay cheque, he is under scanner of the Income Tax Deparment, and becomes a taxpayer.