GST collections in the current financial year till February totalled Rs 10.70 trillion
If we look at the data for individual taxpayers, who form more than 95% of all taxpayers
If you have not filed your returns, and there's a notice, ensure that you respond to the notice in time. Failure to respond to the notice can have consequences
The assessees filing their return of income within the extended due date shall be liable for levy of interest
As filing will go on till the midnight of Aug 31 and few more ITRs are expected from Kerala residents (for whom the deadline has been extended till Sept 15), the figures are expected to rise further
You can claim your losses by filing an ITR-3 only and not an ITR-4
Not only citizens with income above basic exemption limit, those with income below it are also advised to file ITR on time
The e-filing is an easy process and requires just the basic understanding of the portal. Here is a step-by-step guide to file ITR
You must understand that filing income-tax returns can be quick and smooth as long as these key aspects are taken into consideration
New ITR forms indirectly force small businesses to maintain books of accounts, something that wasn't needed earlier
The income-tax department on Wednesday warned salaried-class taxpayers against using illegal means while filing their returns, stating that violators would be prosecuted
Also, the new ITR forms will continue to be filed electronically
Number of individuals reporting an annual income of more than Rs 10 lakh has risen by 21%
CBDT had earlier said that those "drastically" altering the forms to revise income will face scrutiny
CBDT has revised e-filing ITR preparation utilities for filing all types of ITR forms and tax audit report
A new I-T return filer is defined as a person who has not filed return in the previous years but is liable to do so under the law
Cash in hand reported is significantly higher than the income declared in the previous years
There are total 7 ITR forms available for e-filing
The site has been facing glitches since the last three days
The dept requests taxpayers to file their return in time, a top official said