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Income Tax Return

Received Income Tax 'notice'? I-T dept issues explanation, says taxpayers must respond to the 'communication on priority'

Received Income Tax 'notice'? I-T dept issues explanation, says taxpayers must respond to the 'communication on priority'

Tue, Dec 26, 2023

The income tax department stated that such communication is only to facilitate the taxpayers and create awareness around the information available with the I-T department regarding the transactions reported by the Reporting Entities during the year.

Demystifying the New "Discard" Option in Income Tax Returns: A Comprehensive Guide for Taxpayers

Demystifying the New "Discard" Option in Income Tax Returns: A Comprehensive Guide for Taxpayers

Sun, Dec 03, 2023

Taxpayers rejoice! The Income Tax Department has introduced a revolutionary new feature – the 'Discard' option. In this video, we’ll delve into the details of this game-changer, explaining its benefits, eligibility criteria, and the simple process of discarding your income tax return. So, whether you're a seasoned taxpayer or a first-timer, this video will equip you with the knowledge to make the most of this convenient option.

Income Tax Tips: What Are The Tax Regulations On Transaction Between Spouses

Income Tax Tips: What Are The Tax Regulations On Transaction Between Spouses

Tue, Nov 07, 2023

Don't assume that all transactions between spouses are tax-free. There are some nuanced rules to be aware of, especially when it comes to gifts, investments, and rental income. In this video, we'll break down the key tax implications to keep in mind when dealing with your spouse financially.

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Income tax return last date: Alert! Just 2 DAYS left to file your ITR; Taxman will slap penalty on non-filers

Income tax return last date: Alert! Just 2 DAYS left to file your ITR; Taxman will slap penalty on non-filers

Fri, Aug 30, 2019

Income Tax Return last date: Only two days remain for income tax return filing and it's advisable for all taxpayers to file their I-T return at the earliest. The original deadline to file returns was July 31st, but the last date was extended up to August 31st.

Income Tax Return 2019: From slab rates to latest rules, know 10 key things before filing your ITR this year

Income Tax Return 2019: From slab rates to latest rules, know 10 key things before filing your ITR this year

Mon, Aug 26, 2019

The Income Tax Return 2019: The last date to file the ITR for 2018-19 was extended this year. Last month, the Income Tax Department extended the deadline of July 31 by one month to make it August 31.

Income Tax Return filing: Only 7 days left! Still, have these questions on ITR forms?

Income Tax Return filing: Only 7 days left! Still, have these questions on ITR forms?

Sun, Aug 25, 2019

Income Tax Return filing: For the assessment year 2019-20 (financial year 2018-19), only seven days are left to file income tax returns for individuals who come under the tax slab.

Income Tax: Liabilities of PF and Gratuity - All you need to know

Income Tax: Liabilities of PF and Gratuity - All you need to know

Thu, Aug 22, 2019

A retired life of an individual begins with the liquidation of the post-retirement benefits such as gratuity or provident fund. However, there is one aspect that many tend to forget but is very essential is computing the tax liability.

Income Tax Return: LAUNCHED! Verify your ITR without log-in to e-filing website, key things to know

Income Tax Return: LAUNCHED! Verify your ITR without log-in to e-filing website, key things to know

Mon, Aug 19, 2019

Income Tax Department, in order to ease the e-verification process of income tax returns (ITR), has come up with a new facility on its e-filing portal. The taxpayers can e-verify their ITR without even logging in to the e-filing website.

New PAN card applicant? Here is how to download e-PAN for FREE

New PAN card applicant? Here is how to download e-PAN for FREE

Sun, Aug 18, 2019

The Income Tax department has now allowed all the PAN card holders to use both soft and hard copies as their identity proofs. According to a recent order issued by the Central Board of Direct Taxes (CBDT), both e-PAN (electronically issued PAN cards) and physical PAN cards are to be treated equal.

Setback for Income-Tax dept, over 600 tax appeals dismissed in single day

Setback for Income-Tax dept, over 600 tax appeals dismissed in single day

Wed, Aug 14, 2019

The cases were dismissed on the basis of recent Circular issued by CBDT on August 8, the Circular had increased the threshold for filing cases in ITAT from Rs 20 Lakh to Rs 50 Lakh retrospectively.

Income Tax Returns GIFT! File your ITR and earn up to Rs 10,000! Check this reward scheme here

Income Tax Returns GIFT! File your ITR and earn up to Rs 10,000! Check this reward scheme here

Tue, Aug 13, 2019

Income Tax Returns: Filing tax returns can be a problem for many taxpayers and the multiple avenues for ITR filing may add to the confusion. However, here is a scheme that may make it more palatable.

Income Tax Return: ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know

Income Tax Return: ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know

Mon, Aug 12, 2019

Income Tax Return: Income Tax department has made lives easier for the taxpayers by launching 'e-Filing Lite' portal. The portal is meant for the tax payers who find filing of income tax returns (ITR) on their own a complicated and time-taking process.

Income tax Return Queries for AY 2019-20: 5 important questions answered for you

Income tax Return Queries for AY 2019-20: 5 important questions answered for you

Fri, Aug 09, 2019

Income Tax Return Queries: The last date for filing Income Tax Return (ITR) for the assessment year 2019-20 is coming closer, fast. The Income-Tax Department had released ITR for AY 2019-20 via a notification in April this year.

Minting money, but registered as a non-profit? Beware! This is what may happen soon

Minting money, but registered as a non-profit? Beware! This is what may happen soon

Mon, Aug 05, 2019

As per sources aware of the development, “Government will ask companies to prove that they are non-profit. If the companies fail to satisfy, then they will be deregistered as a section 8 company”. This means they will lose income tax exemption and other benefits, like stamp duty relief etc.

Income Tax payer? 4 important dates you should not miss in August

Income Tax payer? 4 important dates you should not miss in August

Mon, Aug 05, 2019

The ongoing month is an important one for the income tax payers as there are several significant deadlines over the next four weeks. Here is a list of dates that you should not miss.

Wow! Income Tax Return Filing process becomes fast and easy like never before! Here's how

Wow! Income Tax Return Filing process becomes fast and easy like never before! Here's how

Fri, Aug 02, 2019

Income Tax Return Filing has become fast and easy like never before with the launch of a ‘lite’ e-filing facility by the Income Tax department. This will facilitate easy and quick filing of returns by taxpayers.

Income Tax Return (ITR) filing: Common mistakes committed by taxpayers; hefty penalty, don't do this after investing in mutual funds

Income Tax Return (ITR) filing: Common mistakes committed by taxpayers; hefty penalty, don't do this after investing in mutual funds

Thu, Aug 01, 2019

Income Tax Return (ITR) filing: Omission of capital gains on units of mutual funds switched is a punishable offense under Section 169 of the Income Tax Act.

Have Money to Invest? Want to save lots of income tax? Then do THIS!

Have Money to Invest? Want to save lots of income tax? Then do THIS!

Thu, Aug 01, 2019

PPF vs NPS is a query that arises among investors who plan for their retirement-related investments and both options provide income tax exemption to an individual.

Okay, you have no time for income tax return filing! But now, no excuses, just do this

Okay, you have no time for income tax return filing! But now, no excuses, just do this

Thu, Aug 01, 2019

ITR filing: This new app has been launched today (August 1) to help taxpayers file income tax returns free of cost and that too quickly.

Keep Income-Tax Dept away from CBDT, says CAG

Keep Income-Tax Dept away from CBDT, says CAG

Tue, Jul 30, 2019

Frustrated at the Income Tax Department's inability to put in place a robust tax collection system that ensures transparency and improves compliance, the Comptroller and Auditor General of India has told the government to consider placing the reins of tax administration onto an independent governmental body.

Income Tax alert! How to download Form 26AS for filing ITR, step by step guide

Income Tax alert! How to download Form 26AS for filing ITR, step by step guide

Tue, Jul 30, 2019

Income Tax Return: Form 26AS is one of the most important documents, required to file your income tax return (ITR). The form 26AS is an annual consolidated tax statement from the income-tax website.

How to claim Income Tax Refund after filing ITR for Assessment Year (AY) 2019-20

How to claim Income Tax Refund after filing ITR for Assessment Year (AY) 2019-20

Fri, Jul 26, 2019

How to get Income Tax Refund after filing ITR: The last date for filing Income Tax Return (ITR) for Assessment year 2019-20 has been extended by Income Tax department to August 31, 2019

Income Tax return filing: What happens if you miss ITR deadline

Income Tax return filing: What happens if you miss ITR deadline

Wed, Jul 24, 2019

Income Tax return filing: What happens if you miss deadline to file your ITR? Well, a lot of times people miss their ITR deadlines due to various reasons. However, there is nothing to worry as you can always pay your income tax even after missing deadlines of that particular fiscal year.

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