Page 7 - Income Tax Return

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

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

FinMin regularly tracking resolution of tax portal bugs with Infosys: CBDT

Board rolls out statistics to prove the problems on the portal are being addressed

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

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

CBDT notifies Income Tax Return forms for 2020-21

In view of ongoing Covid crisis, no significant change have been made to the ITR Forms in comparison to last year, says CBDT

A quick and simple guide on tax compliance ahead of the March 31 deadline

Apart from tax planning, you need to make sure you've paid your advance tax correctly and linked your Aadhaar to your PAN

Pay your family's insurance premiums and PPF contributions to save tax

While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws don't apply

Decoding 15th FC's estimate of mismatch in two sets of salary income data

The Commission asserts salary incomes shown by taxpayers are understated by 50%, finds scope to extract more direct tax by chasing evasion without changing tax rates; experts aren't convinced

Covid-19 impact: Govt extends 2019-20 ITR filing deadline till January 10

The deadline for filing GST annual return for 2019-20 fiscal has been extended by 2 months till February 28, 2021

LIVE: India stands firm in Ladakh, will continue talks with China: Rajnath

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Mistakes you should avoid while filing your income-tax return this year

An incorrect form can render the return defective; under certain circumstances, you may have to file a return even if your income is below the exemption limit

I-T refunds of Rs 95,853 cr issued to 2.55 million taxpayers this fiscal

The Income Tax department on Wednesday said it has issued refunds worth Rs 95,853 crore to over 25.55 lakh taxpayers in the current fiscal. This include personal income tax refunds amounting to Rs 29,361 crore issued to 23.91 lakh taxpayers and corporate tax refunds amounting to Rs 66,493 crore to over 1.63 lakh taxpayers during this period. "CBDT issues refunds of over Rs 95,853 crore to more than 25.55 lakh taxpayers between 1st April, 2020 to 25th August, 2020. Income tax refunds of Rs 29,361 crore have been issued in 23,91,517 cases & corporate tax refunds of Rs 66,493 crore have been issued in 1,63,272 cases," the I-T department tweeted. The government has emphasised on providing tax-related services to taxpayers without any hassles during COVID-19 pandemic and to that end has been clearing up pending tax refunds.

Rs 20,000 hotel bill, Rs 50,000 insurance premium may come under I-T lens

In a list of proposed measures to widen the tax base, in a tweet, government said no taxpayer should be left behind in the drive to ensure better compliance and transparency

Here is how to file Income Tax Returns for AY 2020-21: Step by step guide

The department has released the ITR-1 utility (e-form) on its e-filing website available in Excel and Java formats

CBDT notifies income tax returns forms for 2019-20: Find all the details

The dept has revised the I-T return forms for the financial year 2019-20 to allow assessees to avail benefits of various timeline extension granted by the government following the Covid-19 outbreak

Pending tax refunds up to Rs 5 lakh to be issued immediately: I-T Dept

"It has also been decided to issue all pending GST and Customs refunds which would provide benefit to around 100,000 business entities, including MSMEs," the I-T department said

Why the new optional tax regime could adversely affect dwindling savings

Commenting on the proposal, eminent economist and former Union Minister Yoginder Alagh said, "it (proposal) will definitely reduce savings incentives".

Allcargo acquires nearly 13% stake in Gati in first of three-phased buyout

Several taxpayers complained of technical glitches on filing returns on social media

Book on recently-launched faceless I-T e-assessment scheme released

Titled Guide to e-Assessment with Real Time Case Studies & Suggestive e-Submissions, the book is a ready referencer to help and assist taxpayers and tax practitioners in e-assessment proceedings