Page 30 - Income Tax

ITR Filing AY 2022-23: What if you missed the ITR?

Missed ITR 2022-23 deadline? Under section 234F of the IT Act, a late filing will be imposed on taxpayers after the due date, July 31, 2022. How many penalties should you pay?

Over 6.3 mn returns filed till 10 pm on last day: Income Tax department

Over 63.47 lakh income tax returns were filed till 10 pm on Sunday, the last day for filing ITR for the 2021-22 fiscal by salaried individuals, the Income Tax department said.

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

Explained: Easy steps to file ITR

The last date to file your income tax return without a fine is 31st July. Watch this video to know how you can file your returns online.

ITR 2021-22: Everything you need to know about updated income tax return

In the Finance Bill, 2022, the government introduced the concept of 'updated ITR'. It allows the assessee to file the ITR within 24 months of the expiry of a financial year

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

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

ITR: 5 common mistakes you should avoid while filing your income tax return

The taxpayers are required to fill out several forms, Form 26AS, Form 16, capital gains statement, and interest certificates, among others. In all the paperwork, some mistakes are bound to happen

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

Explained: What is Form 26AS and why is it important for filing ITR

A Form 26AS contains all tax-related information of a taxpayer such as TDS, TCS, advance tax paid by the assessee, self-assessment tax payments, details about income tax refunds, and other details

Top headlines: 5 years of GST and what lies ahead for the tax reform

In the last five years, since its launch in July 2017, the GST journey has been difficult for both economic and political reasons. Read more on five years of GST in our top headlines

Income tax rules: Here are the changes in rules from July 1, 2022

While the late fees for linking PAN-Aadhaar will shoot up, doctors and influencers will have to pay 10% TDS on the benefits they receive from sales promotions

Missed declaring rental to employer? Claim HRA exemption while filing ITR

Keep rent receipts that serve as proof handy should taxmen come calling

3 I-T employees siphoned off crores via fictitious TDS refunds; CBI probes

The probe agency filed the FIR based on a complaint from Joint Commissioner of Income Tax, Muzaffarnagar against three group C officials of the Income Tax department

No more freebies! Influencers, music bands, doctors liable to 10% TDS

Ensure value of goods doesn't exceed Rs 20,000 to avoid TDS

Transactions to paper trail: CBDT clears the air on TDS levy on cryptos

From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year

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

Get a fix on key changes in the new Income Tax Return Forms for AY 2022-23

The forms are quite elaborate and seek a lot of information, so get the documentation and paperwork ready, and make complete disclosures while filing returns

Centre moots ruling authority to fix direct tax liability, settle disputes

Revenue dept to take up measures to boost tax-to-GDP ratio to 15-20%

Seal a tax deal

Minimum global corporate tax rate solves many problems