Income Tax-returns

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Income Tax-returns - Total results - 70
Nirmala Sitharaman says Centre has no more announcements to make; rules out any cut in income tax rates
Business

Nirmala Sitharaman says Centre has no more announcements to make; rules out any cut in income tax rates

Nirmala Sitharaman, who had over the last week announced an economic package to help revive the economy, said how the coronavirus and the lockdown has hurt revenues is yet to be completely assessed.

CBDT to revise income tax return forms to help taxpayers avail benefits of timeline extension due to COVID-19
Business

CBDT to revise income tax return forms to help taxpayers avail benefits of timeline extension due to COVID-19

The CBDT said that it has initiated necessary changes in the ITR forms so that taxpayers could take benefits of their transactions carried out during 1 April 2020 to 30 June 2020.

Income Tax Department asks taxpayers to guard against possible breach of their personal e-filing account
Business

Income Tax Department asks taxpayers to guard against possible breach of their personal e-filing account

The Income-Tax Department has asked taxpayers to guard against possible breach of their personal e-filing account and report such an instance to the police cybersecurity wing

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

FAQs on filing income tax returns: How to report foreign company directorship, equity shares held outside India
Business

FAQs on filing income tax returns: How to report foreign company directorship, equity shares held outside India

The revenue department on Thursday released FAQs on filling income tax returns (ITR) with regard to reporting of directorship in a foreign company and equity shares held outside India

ITR filing: Govt extends due date for filing Income Tax returns for FY19 till 31 August
Business

ITR filing: Govt extends due date for filing Income Tax returns for FY19 till 31 August

Individuals, including salaried taxpayers, and entities—who do not need to get their accounts audited—were required to file their income tax returns for fiscal 2018-19 (Assessment Year 2019-20) by 31 July 2019.

Daily Bulletin: BS Yeddyurappa likely to be new CM as Kumaraswamy loses trust vote; Boris Johnson set to be sworn in as UK PM
India

Daily Bulletin: BS Yeddyurappa likely to be new CM as Kumaraswamy loses trust vote; Boris Johnson set to be sworn in as UK PM

BJP state chief Yeddyurappa likely to be new CM as Kumaraswamy loses trust vote in Karnataka Assembly; Boris Johnson wins race to become new Tory leader and set to be sworn in as PM; day's top stories

Govt extends deadline to file Income Tax Returns for AY 2019-20 by a month till 31 August
Business

Govt extends deadline to file Income Tax Returns for AY 2019-20 by a month till 31 August

Individuals, including salaried taxpayers, and entities — who do not need to get their accounts audited — will have to file their Income Tax Returns (ITR) for fiscal 2018-19 (Assessment Year 2019-20) by 31 August, 2019.

No change in income tax return forms, only utility software updated to facilitate taxpayers, clarifies CBDT
Business

No change in income tax return forms, only utility software updated to facilitate taxpayers, clarifies CBDT

The policy-making body of the Income Tax Department issued a statement saying the updating process of these forms' utility software does not hamper the filing of returns

Tax filing falls 1% in FY19 despite govt focus to broaden base; indicates overall slowdown: Report
Business

Tax filing falls 1% in FY19 despite govt focus to broaden base; indicates overall slowdown: Report

The report said tax collections are not giving 'much comfort', and just corroborate the fact that a number of activity indicators have been signaling a slowdown in parts of the economy.

Tax officials to scrutinise mismatch between ITR, service tax returns for 2015-16 and 2016-17 fiscals
Business

Tax officials to scrutinise mismatch between ITR, service tax returns for 2015-16 and 2016-17 fiscals

The mismatch in ITR and service tax returns has come to notice in respect of PANs that are either not at all registered under service tax or PANs which are registered but did not file service tax returns.

Income Tax dept notifies ITR forms for individuals and companies for the assessment year 2019-20
Business

Income Tax dept notifies ITR forms for individuals and companies for the assessment year 2019-20

The Income Tax department has notified I-T return forms for individuals and companies for the assessment year 2019-20

1.07 crore new taxpayers added, dropped filers down at 25.22 lakh in 2017-18: Central Board Of Direct Taxes
Business

1.07 crore new taxpayers added, dropped filers down at 25.22 lakh in 2017-18: Central Board Of Direct Taxes

CBDT said 6.87 crore Income Tax Returns (ITRs) were filed during FY 2017-18 as compared to 5.48 crore ITRs filed during FY 2016-17

Govt extends deadline for PAN-Aadhaar linking till 30 September; quoting biometric ID while filing I-T returns mandatory from 1 April
India

Govt extends deadline for PAN-Aadhaar linking till 30 September; quoting biometric ID while filing I-T returns mandatory from 1 April

The government Sunday extended the deadline for linking PAN with biometric ID Aadhaar by 6 months till 30 September, an official statement said

Suspicious income tax refund claims under scanner as numbers rise; I-T returns filings up 37% till January: Govt
Business

Suspicious income tax refund claims under scanner as numbers rise; I-T returns filings up 37% till January: Govt

Minister of State for Finance Shiv Pratap Shukla in a written reply to a question in Rajya Sabha said there has been an increase in detection of suspicious income tax refund claims.

Income Tax Department responsible for loss of Rs 6,000 cr in real estate taxes after error in assessment, reveals CAG report
Business

Income Tax Department responsible for loss of Rs 6,000 cr in real estate taxes after error in assessment, reveals CAG report

CAG has exposed the chinks in the armour of the Income Tax Department revealing that the department has lost Rs 6,093.71 crore as tax revenue from the real estate sector due to errors

People carried out high value transactions to get 21 days to file IT returns, submit response; no response to invite action: CBDT
Business

People carried out high value transactions to get 21 days to file IT returns, submit response; no response to invite action: CBDT

In 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.

Govt tables bill to allow voluntary use of Aadhaar for SIM, bank account; stiff penalties for violation of norms
Business

Govt tables bill to allow voluntary use of Aadhaar for SIM, bank account; stiff penalties for violation of norms

The bill proposes a civil penalty of up to Rs 1 crore on entities that violate the provisions of the Aadhaar Act, with an additional fine of up to Rs 10 lakh per day in case of continuous non-compliance.

Haven’t yet filed Income Tax Returns? Last day today; hurry up and save late fee of Rs 5,000
Business

Haven’t yet filed Income Tax Returns? Last day today; hurry up and save late fee of Rs 5,000

Income Tax Returns will not be accepted unless you have paid the late filing fee.

Income Tax returns filings see big jump in financially poor states like Bihar, Madhya Pradesh, Uttar Pradesh
Business

Income Tax returns filings see big jump in financially poor states like Bihar, Madhya Pradesh, Uttar Pradesh

Earlier this month, CBDT chairman Sushil Chandra had said that Income Tax return filing for assessment year 2018-19 had seen a 50 percent rise since last year.