Page 12 - Income Tax Filing

ITR 2021-22: What do you lose if you file a belated income tax return?

Under section 234F of the Income Tax Act, 1961, the taxpayer is required to pay a penalty of Rs 5,000 for delaying the ITR and filing a belated ITR

No plan to extend deadline for filing income tax returns: Revenue Secretary

The government is not considering extending the last date for filing income tax returns as it expects most returns to come in by the due date of July 31, a top official said

ITR 2021-22: How does a belated income tax return differ from regular one?

Filing your income tax return on time is always the best option. We explain what happens when you file it late

Legal heir bound by law to file deceased's tax return for year of death

Failure to do so can result in penalties for the legal heir

How to file ITR-2 online with salary income, capital gains for FY22

Individual taxpayers not having business or professional income can use this form

It's prudent to file nil ITR even if your income is below Rs 2.5 lakh

Filing income tax return will prove handy while applying for a loan, insurance cover, or a visa

Kotak Mahindra Bank completes tech integration with new e-filing portal

With this, Kotak Mahindra Bank becomes one of the first private banks to be fully integrated with the new Income Tax department portal

Cross-check data in pre-filled forms while filing income-tax return

The documents you collect for this purpose will prove handy if an assessing officer conducts inquiry

File ITR to avoid TDS/TCS deduction at higher rate, say analysts

The CBDT has issued a circular pertaining to Sections 206AB and 206CCA of the I-T Act, which provide details regarding people to whom higher TDS/TCS rates should apply

Collect Form 10BE before May 31 for availing tax deduction under Sec 80G

Check the information therein carefully and get any error corrected before this deadline

Govt notifies ITR forms for 2021-22; seeks details on overseas pension a/c

ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) forms cater to small and medium taxpayers.

Of 62.6 mn income tax returns filed for FY21, 45 mn processed, says CBDT

More than 5.41 crore income tax returns (ITRs) filed have been verified and 1.58 crore refunds amounting to Rs 31,857 crore for AY 2021-22 (2020-21 fiscal) have been issued

Changes in Income Tax return filing that you must know before setting out

There are some changes in the e-filing site, ITR Forms for AY 2021-22, as well as in the process of filing returns.

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.

TMS, Ep 37: 5 years of since demonetisation, Form 26AS, and blockchain tech

What do key indicators tell us about the Indian economy 5 years after demonetisation? How will tweaked Form 26AS make tax evasion harder? What is blockchain technology? Get all the answers here

Form 26AS tweaks make paying taxes easier and evasion harder. Here's how

From now on, more information about your income and transactions will be uploaded in Form 26AS by the income-tax department. So, what does that mean for you and your wallet? Let's understand

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

Over 20 mn ITRs for FY21 filed on new portal, 17 mn e-verified: CBDT

The income tax department said more than two crore ITRs for the financial year 2020-21 have been filed so far and the performance of the new I-T portal has 'substantially stabilised'

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 Tax portal, and things to remember as a taxpayer

Taxpayers can file settlement claims till September 30: Check details here

This comes amid interim relief provided by some high courts, directing acceptance of applications of settlement even after February 1