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ABHYAS: A look at India’s indigenously-developed High-Speed Expendable Aerial Target drone
India

ABHYAS: A look at India’s indigenously-developed High-Speed Expendable Aerial Target drone

Developed and designed by DRDO, ABHYAS is a 75-kg drone that will be used as a target for various missile systems. Capable of attaining an altitude of more than five kilometres at half the speed of sound, it can also be used as a decoy aircraft

Income Tax Refund: Here's how to check your refund status online
Business

Income Tax Refund: Here's how to check your refund status online

There are multiple ways to check if your income tax refund status. You can either visit the new income tax e-filing portal or the NSDL website

ITR filing last date: What happens if you miss 31 March deadline to file returns?
Business

ITR filing last date: What happens if you miss 31 March deadline to file returns?

For filing belated tax returns, a fine of Rs 5,000 will also be imposed on individuals with an annual income of more than Rs 5 lakh.

CBDT extends Income Tax Filing deadline for AY 2021-22 to 15 March; check details here
Business

CBDT extends Income Tax Filing deadline for AY 2021-22 to 15 March; check details here

If you fail to file the ITR within the due date, you will be required to pay penal interest on the unpaid tax liability if there is any

ITR filing FY 2020-2021: Just 3 days left for filing returns; here are things to keep in mind
Business

ITR filing FY 2020-2021: Just 3 days left for filing returns; here are things to keep in mind

For the financial year 20-21, the due date for filing the ITR is 31 December, 2021. Both online and offline options are provided by the government for filing the ITR

CBDT says income tax portal's technical issues being progressively addressed; 1.19 crore ITRs filed
Business

CBDT says income tax portal's technical issues being progressively addressed; 1.19 crore ITRs filed

The Income Tax Return (ITR) filing has increased to 3.2 lakh daily in September 2021.

Senior citizens aged 75 and above now required to declare income to get exemption from ITR filing
India

Senior citizens aged 75 and above now required to declare income to get exemption from ITR filing

Income tax department has notified declaration forms to be filed by senior citizens aged 75 years and above with banks to get exemption from filing I-T return.

Finance ministry summons Infosys CEO Salil Parekh on Monday over I-T portal glitches
Business

Finance ministry summons Infosys CEO Salil Parekh on Monday over I-T portal glitches

The new tax portal, which went live on 7 June, continues to face a slew of issues including longer logging in time and inability to generate OTP for Aadhaar validation.

ITR due date extension: Centre extends FY21 filing deadline for individual tax payers to 30 Sep
India

ITR due date extension: Centre extends FY21 filing deadline for individual tax payers to 30 Sep

The deadline for issuing Form 16 by employers to employees has also been extended by a month till 15 July, 2021, the CBDT said

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

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.

Nirmala Sitharaman's first COVID-19 stimulus sheds moral baggage for morale booster, but fiscal puzzles remain
Business

Nirmala Sitharaman's first COVID-19 stimulus sheds moral baggage for morale booster, but fiscal puzzles remain

There is plenty to celebrate for MSMEs and other entities covered under Nirmala Sitharaman's first package of details to flesh out Prime Minister Narendra Modi's Rs 20-lakh-crore stimulus

First Night trial of surface-to-surface medium-range missile Agni-II conducted successfully: Nuclear-capable missile launched off Odisha coast
India

First Night trial of surface-to-surface medium-range missile Agni-II conducted successfully: Nuclear-capable missile launched off Odisha coast

India, on Saturday, successfully conducted the first night trial of 'Agni-II', its versatile surface-to-surface medium range nuclear capable missile from Dr Abdul Kalam Island off the Odisha coast, defence sources said. 'Agni-II' is part of the Agni series of missiles which includes Agni-I with a 700 km range, Agni-III with a 3,000 km range, Agni-IV and Agni-V both having long range capabilities

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

About 4 lakh income tax payers to be scrutinised under new faceless assessment system; over 1 lakh served notices
Business

About 4 lakh income tax payers to be scrutinised under new faceless assessment system; over 1 lakh served notices

Early this month, Finance Minister Nirmala Sithamraman had said that the I-T Department would encourage faceless tax assessment in order to keep the assesses away from harassment.

ITR Filing 2019: Over 5.65 cr income tax returns filed as deadline ended on 31 August; records 4% rise from previous year
Business

ITR Filing 2019: Over 5.65 cr income tax returns filed as deadline ended on 31 August; records 4% rise from previous year

Nearly 50 lakh people filed their tax returns online on 31 August, the last date for ITR filing and the peak filing rate per second was at 196 ITRs per second