Page 7 - Income Tax Returns

I-T department issues FAQs on Income Tax Return filing as last date today

Taxpayers with mobile numbers not linked to Aadhaar can reset password on income tax e-filing portal using a valid digital signature certificate or by logging into internet banking

ITR 2021-22: Chorus for deadline extension grows on social media

As the deadline for filing ITR approaches, the demand for extending it has also grown

Disclose your foreign assets and income in ITR or pay a hefty penalty

Clarity on relevant accounting period has been provided this year: it is January 1 to December 31, 2021

ITR filing: Know how to file income tax return as the deadline approaches

According to the revenue secretary Tarun Bajaj, over 2.3 crore income returns have been filed by July 20. However, the numbers are expected to pick up as the last date approaches

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

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

Games people play: Skill or chance? Tax rates will differ, say experts

Any income arising from a game of any sort, which does not involve any skill, is taxed at the rate of 30 per cent

Five key benefits of filing your income tax return by the due date

Filing ITR is mandatory in order to claim deductions under Chapter VI and exemptions on long-term capital gains; but there are other benefits you need to know about

Make the most of higher tax deductions to senior citizens, say experts

Those over 60 need not file ITR if any tax has been deducted under Section 194P

How to claim HRA while filing your ITR

Did you forget to submit the rent receipts to your employer and are you now worried whether the HRA in your Form 16 will be considered taxable? There's a way out for you.

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

Have Form 16 from two employers? Be careful not to claim tax benefits twice

A mistake in calculating tax liability could lead to a notice from the tax department

Claim deduction either under Section 80 TTA or 80 TTB, but not both

Exemption under Section 10(15)(i) can be availed in conjunction with 80 TTA or 80 TTB

CBDT issues guidelines for new tax rule on gifts, benefits to influencers

Benefits like free medical samples received by doctors and gifts retained by social media influencers will attract TDS

Compare Form 16 with 26AS before filing income-tax return: Experts

Report any discrepancy between the two documents to the employer immediately and get it rectified

Income tax returns increased in FY22 over the previous fiscal: CBDT chief

Talking to PTI, Singh said the number of income tax returns last fiscal was 7.14 crore against 6.9 crore in the preceding financial year, showing a clear growth.

Use Section 89 (1) to reduce tax burden arising from arrears: Experts

To avail of this relief, you must file Form 10E before submitting income-tax return

CBDT lays out guidelines for manual scrutiny of income tax returns

Income-Tax department selects cases manually for comprehensive scrutiny

Govt notifies new form for filing updated ITRs for 2019-20 and 2020-21

Taxpayers filing ITR-U, which can be filed within 2 years of the end of the relevant assessment year, will have to give reasons for updating the income

Seniors need to submit Forms 12BBA, 15G, 15H to save on TDS: Experts

As we enter FY23, remember April is a good time to look into your tax planning for the year ahead