Income Tax-return

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Income Tax-return - Total results - 29
Last day to file Income Tax Return today: Steps to file ITR online at incometaxindiaefiling.gov.in
Business

Last day to file Income Tax Return today: Steps to file ITR online at incometaxindiaefiling.gov.in

To avoid penalty, the revised or delayed income tax return for FY 2019-20 also needs to be filed by 31 March

ITR 2019-20: Govt extends deadline till 10 Jan; individuals, firms requiring audit can file income tax return by 15 Feb
India

ITR 2019-20: Govt extends deadline till 10 Jan; individuals, firms requiring audit can file income tax return by 15 Feb

The govt has also extended the due date for filing declaration under the direct tax dispute resolution scheme Vivad Se Vishwas by a month till 31 January while the deadline for filing GST annual return for FY2019-20 has been extended by two months till 28 February, 2021

ITR filing 2019-20: Here are steps to file returns by 31 December and avoid paying penalty
India

ITR filing 2019-20: Here are steps to file returns by 31 December and avoid paying penalty

There is a penalty fee that needs to be given if a person misses their ITR filing date.

Income Tax Returns: From bank ATM to Aadhaar, ways to e-verify your 2019-2020 filing
India

Income Tax Returns: From bank ATM to Aadhaar, ways to e-verify your 2019-2020 filing

Before e-verifying returns, taxpayers must have permanent account number (PAN), assessment year for which the ITR has been filed, acknowledgment number and electronic verification code

ITR 2019-20 filing last date till 31 December: Here's the list of documents and steps to file income tax returns online
India

ITR 2019-20 filing last date till 31 December: Here's the list of documents and steps to file income tax returns online

With the ITR filing last date approaching closer, taxpayers, who are yet to file returns, should do it as early as possible to avoid any last-minute rush or error.

Income Tax Department extends deadline for filing IT returns for FY 2019-20 to 30 November
India

Income Tax Department extends deadline for filing IT returns for FY 2019-20 to 30 November

Earlier, the return on income earned between 1 April, 2019, and 31 March, 2020, was due by 31 July

Companies opting for new lower corporate tax rate can't claim MAT credit, other deductions: CBDT
Business

Companies opting for new lower corporate tax rate can't claim MAT credit, other deductions: CBDT

The Central Board of Direct Taxes (CBDT), in a clarification, said companies will be allowed to utilise such credits only against regular taxes under the old regime

CBDT extends Income Tax Returns filing deadline for audit cases by a month to 31 October
Business

CBDT extends Income Tax Returns filing deadline for audit cases by a month to 31 October

The CBDT on Thursday extended the 30 September deadline by a month for filing of income tax returns (ITRs) for special cases requiring audit reports

Govt targets adding 1.3 cr new income tax return filers this fiscal against 1.1 cr last year
Business

Govt targets adding 1.3 cr new income tax return filers this fiscal against 1.1 cr last year

The government has set a target of adding 1.3 crore income tax filers in the current financial year against 1.1 crore new filers last year, Parliament was informed on Monday

Over 1.46 cr Income Tax Returns filed so far; 90.8 lakh taxpayers file ITR-1: Revenue department
Business

Over 1.46 cr Income Tax Returns filed so far; 90.8 lakh taxpayers file ITR-1: Revenue department

Over 1.46 crore income tax returns have been filed so far, of which 90.8 lakh have been filed by individuals with total income up to Rs 50 lakh

ITR2 filing too complex and replete with avoidable details; Income Tax Department can use information from employers instead
Business

ITR2 filing too complex and replete with avoidable details; Income Tax Department can use information from employers instead

ITR2’s information appetite is gargantuan and voracious. One can imagine the plight of the filers uninitiated in the nuances of the income tax law

Is I-T Department planning to tax interest earned on income tax refund as part of reforms?
Business

Is I-T Department planning to tax interest earned on income tax refund as part of reforms?

Interest on income tax refund arises principally because of the excess of advance tax and tax deducted at source (TDS) over the actual tax liability.

Cabinet clears next gen income tax filing system; Infosys selected to implement Rs 4,242-cr project
Business

Cabinet clears next gen income tax filing system; Infosys selected to implement Rs 4,242-cr project

IT major Infosys has been selected to implement the next generation system for processing income tax return filings, with the Union Cabinet sanctioning an estimated Rs 4,241.97 crore for the project

I-T department working on pre-filled income tax return forms, says CBDT chairman Sushil Chandra
Business

I-T department working on pre-filled income tax return forms, says CBDT chairman Sushil Chandra

Income tax payers will soon get pre-filled ITR forms that will make the process of filing returns easier, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has said.

CBDT chief says I-T return filing up 50% this year; expresses confidence to meet direct tax collection target
Business

CBDT chief says I-T return filing up 50% this year; expresses confidence to meet direct tax collection target

Demonetisation has been very good for increasing the tax base of the country due to which the I-T return filings increased to 6.08 crore, a 50 percent rise, he said.

Due date of filing income tax return for Kerala extended to 15 September: CBDT
Business

Due date of filing income tax return for Kerala extended to 15 September: CBDT

The due date for filing income tax return for assessees in Kerala has been extended by 15 days to 15 September following devastating floods which have affected life in the state, the CBDT said on Tuesday.

Income Tax Department says refunds worth Rs 70,000 cr issued, 99% claims processed
Business

Income Tax Department says refunds worth Rs 70,000 cr issued, 99% claims processed

Income Tax refunds worth over Rs 70,000 crore have been issued to the taxpayers and nearly all refund claims pending as on June-end has been processed, the Central Board of Direct Taxes (CBDT) said on Wednesday

I-T warns salaried class against filing wrong ITRs, says violators' employers will be informed
Business

I-T warns salaried class against filing wrong ITRs, says violators' employers will be informed

The Income Tax Department on Wednesday cautioned salaried class taxpayers against using illegal means like under-reporting of income or "inflating" deductions while filing their returns, stating violators will be prosecuted

Income tax: 3% of the population filed returns, mere 1.7% paid tax in AY 2015-16
Business

Income tax: 3% of the population filed returns, mere 1.7% paid tax in AY 2015-16

Just over 2 crore Indians, or 1.7 percent of the total population, paid income tax in the assessment year 2015-16, according to data released by the I-T department

Income tax returns filing deadline today: A list of dos and don'ts for last minute tax-filers
Business

Income tax returns filing deadline today: A list of dos and don'ts for last minute tax-filers

You can either chose to do it directly at the Indian Income Tax website or you can choose an online tax portal.