Page 5 - Itr

Experts raise several red flags around section 194R of the Income Tax Act

The section introduced in the Finance Act, 2022 to reduce evasion and widen the tax base has some conflicting provisions apart from other challenges

TMS Ep249: Q1 GDP estimates, EV adoption, RIL stock, Sec-194R of IT Act

What do Q1 GDP estimates say about the economy? How will EV adoption affect auto component makers? When will RIL stock hit the Rs 3,500 mark? Why Sec-194R of IT Act has confused people? Answers here

TDS on benefits: Section 194R of the I-T Act has confused people

Sec 194R of the IT Act, 1961, mandates a person giving any benefit to another person to deduct 10% of the value of the benefit at source. It has created confusion as a similar section is already there

CBDT asks the winners of online games to pay taxes, file updated ITR

The winners of online games will have to pay taxes at the rate of 30 per cent without any rebates or 25-30 per cent on taxes and the interest due

ITR 2021-22: How to e-verify income tax return to complete filing process

If the income tax return (ITR 2021-22) is not verified before the last date, it is deemed invalid (not filed) by the Income Tax Department

7.24 million income tax returns filed in one day, a record: CBDT

On July 31, 7.24 million ITRs had been filed, shattering all previous single-day records (the maximum being 4.9 million in 2019)

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: Top 5 benefits of filing ITR before the July 31 deadline

ITR is generally filed to claim the tax deductions and exemptions from the long-term capital gains, however, the benefits of filing the ITR 2021-22 before July 31 are not limited to this

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

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

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

Legal heir bound by law to file deceased's tax return for year of death

Failure to do so can result in penalties for the legal heir

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

As deadline approaches, here's how to file I-T return of a deceased person

Failure in filing the ITR of a deceased person makes the heir liable to pay the penalty or fines. It may also lead to some penal consequences

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.

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

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

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

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

File ITR to avoid TDS/TCS deduction at higher rate, say analysts

The CBDT has issued a circular pertaining to Sections 206AB and 206CCA of the I-T Act, which provide details regarding people to whom higher TDS/TCS rates should apply

Not filed ITR yet? Face penalty or even jail term

The deadline for filing ITR for 2020-21 was revised from December 31, 2021 to March 31, 2022. If a taxpayer fails to file ITR beyond this, they may even have to face jail for the violation. Watch the video to learn more