Page 11 - Income Tax Returns

I-T refunds worth Rs 1.36 lakh cr issued to 4.1 mn taxpayers till Nov 24

The Income Tax Department has issued refunds worth over Rs 1.36 lakh crore to over 41 lakh taxpayers so far this fiscal. This includes personal income tax (PIT) refunds amounting to Rs 36,028 crore and corporate tax refunds of over Rs 1 lakh crore during this period. CBDT issues refunds of over Rs 1,36,962 crore to more than 41.25 lakh taxpayers between 1st April, 2020 to 24th November,2020. Income tax refunds of Rs 36,028 crore have been issued in 39,28,067 cases & corporate tax refunds of Rs 1,00,934 crore have been issued in 1,96,880 cases, the I-T Department tweeted.

No relief in interest levied: Don't wait until last minute to file ITR

Interest charged under Section 234A will increase if you delay

Clamour grows for extended deadline for tax audit, income-tax returns

The deadlines for tax audit and income tax return filing stand at October 31 and November 30, respectively

Not verifying your income tax returns might have serious consequences

Refunds get blocked, losses aren't carried forward, and you could face a penalty

Due date for 'filing belated, revised' ITRs for AY20 extended to Nov 30

The date is being extended for the 'genuine difficulties' taxpayers face in the Covid-19 pandemic.

Investors must prepare tax-filing checklist early to avoid hiccups

With the task turning more complex, procrastinating will compound your problems

Taxes taking a bite out of your salary? Use Section 197 to manage cash flow

Only payments made after submission of this certificate are eligible for lower or nil tax rate

Taxpayers don't need to mention high-value transactions in ITR form: Report

Government is not considering any modification in the ITR form

PM Modi to launch 'transparent' scheme tomorrow to honour honest taxpayers

In the Budget, Finance Minister Nirmala Sitharaman had announced that CBDT will adopt a "taxpayer charter" which will ensure trust between a taxpayer and the administration

You may have to file ITR even though your income might not be taxable

Even if your income is below the exemption limit, you will still have to furnish ITR

Income tax scrutiny down in AY18; Delhi faced the highest, Bihar the least

Gujarat the most tax-compliant state in terms of proportion of return filers to PAN holders

Govt extends deadline for filing income tax returns for FY19 till Sept 30

This is the third extension given by the government for taxpayers to file both original and revised tax returns for 2018-19 financial year

CBDT to share depreciation, turnover info of small firms with MSME ministry

The Central Board of Direct Taxes has signed a memorandum of understanding in this regard with the Ministry of Micro, Small and Medium Enterprises

I-T dept spots taxpayers with high-value transactions in FY19 with no ITRs

The last date for filing as well as revising the Income Tax Return for Assessment Year 2019-20 (relevant to FY 2018-19) is July 31, 2020

Taxpayers asked to verify ITRs for AYs 2015-16 to 2019-20 by September 30

A taxpayer filing Income Tax Returns (ITR) electronically without digital signature has to verify it using either Aadhaar one-time password (OTP)

Covid-19 impact: Direct tax refunds down 16% to Rs 64,428 crore in Q1

Corporation tax refunds stood at Rs 40,482 crore, while income tax refunds stood at Rs 23,828 crore in Q1FY21.

Govt allows I-T exemption on conveyance allowance under new tax regime

The Central Board of Direct Taxes (CBDT) has now amended Income Tax rules to prescribe certain exemptions which can be availed by the employees

Covid-19 impact: ITR filing deadline for FY19 extended till July 31

The date for linking PAN with Aadhaar has also been extended further till March 31, 2021

ITR deadline for FY19 extended till July 31, PAN-Aadhaar till March 2021

The due date for filing ITR for FY2019-20 has already been extended till November 30, 2020

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