TAX
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December 31, 2021, Friday
No extension of ITR filing deadline; over 56 mn FY21 returns filed so far
Revenue Secretary Tarun Bajaj said ITR filing is going on 'very smoothly'
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December 28, 2021, Tuesday
Income Tax refunds of over Rs 1.49 trillion issued so far this fiscal
This includes 1.07 crore refunds of AY 2021-22 (fiscal ended March 31, 2021), amounting to Rs 21,021 crore
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December 27, 2021, Monday
Over 45 million income tax returns for FY21 filed till December 26
The extended deadline for filing ITRs by individual taxpayers is December 31, 2021. The original deadline was July 31, 2021
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December 22, 2021, Wednesday
Over 40 mn income tax returns e-filed for FY21 so far, says I-T dept
More than 4 crore ITRs for the last fiscal have been efiled, with around 8.7 lakh returns being filed on December 21 alone, the ...
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December 16, 2021, Thursday
Choice of wrong ITR form can lead to a notice from Income Tax Dept
Take into account the amount and nature of your income, and residency status when choosing form
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December 14, 2021, Tuesday
Inadequate disclosures in income tax returns can have dire consequences
In the worst case, the taxpayer could end up paying a heavy penalty and even suffer a jail term
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November 11, 2021, Thursday
Fix these errors in Form 26AS before filing your Income Tax returns
Taking excess tax credit while filing your returns could lead to a notice from the income-tax department, say experts.
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November 04, 2021, Thursday
New Annual Information Statement allows you to get mistakes rectified
Make sure the information in your income-tax return and in this statement match, or you could get a tax notice
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October 12, 2021, Tuesday
GSTN blocks Rs 14,000-cr input tax credits of 66,000 taxpayers
GST Network on Tuesday said it has blocked Rs 14,000 crore worth of input tax credit (ITC) of 66,000 businesses registered under ...
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October 01, 2021, Friday
Income tax refunds of Rs 80,086 cr issued during this fiscal: CBDT
This figure includes income tax refunds of Rs 19,699 crore in 47,53,254 cases and corporate tax refunds of Rs 60,387 crore in ...
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September 23, 2021, Thursday
Some e-filing glitches remain, working with I-T dept: Infosys
The tech services giant said over 30 mn taxpayers had logged in and have completed transactions
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September 13, 2021, Monday
Raise refund reissue claim if tax rebate is delayed, say experts
Do this only if there are no remarks or reasons given by I-T division for withholding it
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September 07, 2021, Tuesday
Senior citizens above 75 years can avoid filing ITR from next year
Instead, they will just have to make a declaration in Form 12BBA to their bank, which will deduct TDS
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September 01, 2021, Wednesday
Make sure you don't miss extended tax filing deadline: Analysts
The new deadlines for uploading declarations in Form 15G/15H for Q1 is November 30. For Q2, the deadline is December 31
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August 29, 2021, Sunday
CBDT extends due dates for e-filing of various Income Tax forms
The Finance Ministry said that the move comes on the back of difficulties reported by taxpayers and other stakeholders.
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August 25, 2021, Wednesday
NRIs should apply to I-T dept for relief from double taxation: Experts
If they have lost non-resident status because of enforced stay in India, this can bring them some reprieve
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August 16, 2021, Monday
Income below exemption limit? File tax return, nonetheless, say experts
Offsetting losses against future income or receiving tax refund is only possible when you do so
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August 06, 2021, Friday
Defer income-tax filing if you have to pay a penalty, say analysts
Do so once the glitches on the new tax portal have been ironed out
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July 30, 2021, Friday
Don't forget mandatory disclosures while filing your income-tax returns
Failure to do so might render the ITR (Income-Tax Returns) defective and invite an income tax notice and penalties
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July 30, 2021, Friday
Include cryptocurrency gains in income-tax returns, say analysts
Treat it as capital gain if you buy and hold; as business income if you trade frequently
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December 29, 2021, Wednesday
Just 3 days left for filing ITR, what happens if you miss the deadline
The due date for ITR filing for the fin ancial year 2020-21 (the assessment year 2021-22) has been extended twice
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December 28, 2021, Tuesday
Over 46.7 mn ITRs filed for FY21 so far, 1.54 mn alone in single day
The last date for filing ITRs for 2020-21 fiscal ended March 31, 2021, by individual taxpayers is December 31
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December 24, 2021, Friday
Things to remember as you rush to file your return ahead of December 31
To avoid any last-minute errors, one must remember to use the correct ITR form, collate all relevant income and expense documents ...
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December 22, 2021, Wednesday
Capital gains or rent: All income must be reported in Income Tax Return
Capital gains on switching between MF plans, notional income from vacant property, minor's income are ones taxpayers often ...
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December 15, 2021, Wednesday
CBDT issues refunds of Rs 1.37 trillion to 12.7 million taxpayers
The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1,36,779 crore to more than 1.27 crore taxpayers from ...
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November 24, 2021, Wednesday
Pay attention to liquidity needs while selecting tax saving instruments
Investors in higher tax brackets may avoid products taxed at the slab rate
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November 08, 2021, Monday
Don't invest just to save tax but to get closer to your financial goals too
Choose an equity, debt or hybrid instrument depending on investment horizon and asset allocation
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November 03, 2021, Wednesday
CBDT issues refunds of Rs 1.12 trn to 9.1 mn taxpayers from Apr 1-Nov 1
The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1,12,400 crore to more than 91 lakh taxpayers from April 1 ...
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October 11, 2021, Monday
Decoded: What is Provident Fund and when can you withdraw money from it?
The EPF (employee provident fund) has traditionally been the most common tool for salaried Indians to save for their retirement. ...
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September 27, 2021, Monday
What is Form 16? | Everything about Form-16: Decoded
Here's all that you know, and you don't know, about Form 16, TDS certificate, Form 16 part A, Form 16 part B, Form 26AS, Income ...
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September 19, 2021, Sunday
Taxpayers still need to pay interest despite extension of filing dates
Taxpayers may still be required to pay additional interest at the rate of 1 per cent per month despite filing the return in the ...
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September 10, 2021, Friday
Things to keep in mind while filing your income tax return this year
Ensure you file your returns ahead of time, in case you need to make changes
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September 03, 2021, Friday
Your EPF account will now show taxable and non-taxable balance
Those earning high salaries should think twice before getting it restructured
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August 30, 2021, Monday
Refunds: I-T dept asks taxpayers to send online response for AY 20-21
The Income Tax Department has urged taxpayers to "quickly" send an online response so that their pending refunds for assessment ...
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August 27, 2021, Friday
Employee stock options: Postpone sale of shares if firm plans to list
Extend holding period so that you pay tax on long-term capital gains as it will reduce the outgo
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August 21, 2021, Saturday
CBDT issues Rs 49,696-cr refunds to 2.2 mn taxpayers from Apr 1-Aug 16
Income tax refunds of Rs 14,608 crore issued in 21,50,668 cases and corporate tax refunds of Rs 35,088 crore issued in 1,24,732 ...
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August 11, 2021, Wednesday
I-T Dept to refund late fee paid while filing FY21 ITR due to s/w error
The last date for filing ITR for last financial year has been extended till September 30, 2021, from July 31 to give taxpayers ...
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August 04, 2021, Wednesday
New vs old tax regime: Compute liability before making the switch
Non-investors in tax-saving instruments may opt for the new regime
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July 30, 2021, Friday
Income Tax refunds worth Rs 43,991 crore issued till July 26
The Income Tax Department on Friday said it has issued refunds worth over Rs 43,991 crore till July 26 in the current fiscal. It ...
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July 29, 2021, Thursday
Over 2.58 mn ITRs filed, 0.79 mn e-PANs allocated at new IT e-filing portal
The new Income Tax Department website, which has been marred by glitches, has successfully received over 2.5 million returns, ...
