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Income Tax Return

Only 6.68% of population filed income tax return in 2023-24 fiscal

Only 6.68% of population filed income tax return in 2023-24 fiscal

Tue, Dec 17, 2024

Minister of State for Finance Pankaj Chaudhary said there is an increase in filing ITR with over 8.09 crore income tax returns were filed in fiscal 2023-24, up from over 7.40 crore in 2022-23. In FY22, the number of ITRs filed was over 6.96 crore, up from over 6.72 crore in FY21 and over 6.48 crore in FY20.

Income tax return filer base up 2.2 times in 10 years, 5 times growth in Rs 50 lakh-plus income category: Sources

Income tax return filer base up 2.2 times in 10 years, 5 times growth in Rs 50 lakh-plus income category: Sources

Wed, Nov 13, 2024

There has been a significant increase in income tax compliance in the country with more than five-fold growth in the Rs 50 lakh-plus income category, according to sources.

ITR Filing Deadline Extended: I-T Dept extended the last date of income tax filing by 15 days

ITR Filing Deadline Extended: I-T Dept extended the last date of income tax filing by 15 days

Sat, Oct 26, 2024

ITR Filing Deadline Extend: The income tax department has announced a 15-day extension for corporates to file their income tax returns, moving the deadline to November 15 for the assessment year 2024-25.

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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.

Income Tax Return Last Date extended! Relief for taxpayers; deadline for ITR filing extended by a month; 5 things to know

Income Tax Return Last Date extended! Relief for taxpayers; deadline for ITR filing extended by a month; 5 things to know

Wed, Jul 24, 2019

Yes, Income Tax Return last date has been extended. Taxpayers will get some more time to file their ITR returns as the government has extended the dates for filling Income Tax Returns for the year 2018-19.

Filing Income Tax Return? Six most common mistakes taxpayers must avoid or face consequences

Filing Income Tax Return? Six most common mistakes taxpayers must avoid or face consequences

Fri, Jul 19, 2019

Income Tax Return filing: It's easy to file income tax returns these days. While filing ITR online, you don’t need to do calculations now as it is taken care of by the software.

Income Tax Return (ITR) Warning! Problems with changes made in ITR-2 and ITR-3 forms? CBDT reacts to a storm on social media

Income Tax Return (ITR) Warning! Problems with changes made in ITR-2 and ITR-3 forms? CBDT reacts to a storm on social media

Wed, Jul 17, 2019

Income Tax Return (ITR) Alert!: The CBDT reacted to storm on social media on Tuesday and announced that there were no changes made in any of the Income Tax Return (ITR) rules, including ITR-2 and ITR-3 forms.

How to save Income Tax on real estate investment

How to save Income Tax on real estate investment

Tue, Jul 09, 2019

A real estate investor can keep the money into a capital gain account for up to three years and avoid income tax after selling out his or her property.

ITR filing to become compulsory for these people, more classes may be notified!

ITR filing to become compulsory for these people, more classes may be notified!

Sun, Jul 07, 2019

Budget has proposed to make Income Tax Return (ITR) filing compulsory for persons who deposit over Rs 1 crore in a current account in a year, spend over Rs 2 lakh on foreign travel or have an annual electricity bill of more than Rs 1 lakh.

Budget 2019: Soon these citizens will also have to file Income Tax Return (ITR)

Budget 2019: Soon these citizens will also have to file Income Tax Return (ITR)

Fri, Jul 05, 2019

Soon even depositors and travellers will need to file income tax returns. This was proposed in her Budget speech by Finance Minister Nirmala Sitharaman.

Income tax returns-Budget 2019: From tax relief on housing loans to TDS on cash withdrawal, know these 5 things

Income tax returns-Budget 2019: From tax relief on housing loans to TDS on cash withdrawal, know these 5 things

Fri, Jul 05, 2019

Income tax returns-Budget 2019: The budget 2019 was announced on July 5 in Parliament with few changes on the tax front. The Income Tax slab rates for the major part of the tax-paying population have been kept unchanged, while a surcharge was imposed on super-rich.

Income Tax Return (ITR) filing: These documents will come in handy for hassle-free tax returns

Income Tax Return (ITR) filing: These documents will come in handy for hassle-free tax returns

Fri, Jun 28, 2019

With new Income Tax return changes in place, it is important you do not make mistake and have every document ready.

Income tax returns scrutiny to be faceless; assessing officer will not know whose records he is examining

Income tax returns scrutiny to be faceless; assessing officer will not know whose records he is examining

Thu, Jun 27, 2019

Union Finance Ministry has taken a path-breaking decision by expanding the scope of direct tax task force.

Are you an income tax payer? I-T dept made this big change in your ITR filing

Are you an income tax payer? I-T dept made this big change in your ITR filing

Thu, Jun 27, 2019

If you are in the habit of paying your income tax at the last minute, then you might not want to miss out on the latest alert in order to ensure seamless ITR filing.

July 31 is last day to file ITR: Know how to link PAN and Aadhaar online

July 31 is last day to file ITR: Know how to link PAN and Aadhaar online

Thu, Jun 20, 2019

Last day to file Income Tax returns for the year 2018-19 is on July 31st and under the Income Tax Act, now it is compulsory for Indian residents to submit their Aadhaar number while applying for the allotment of a Permanent Account Number (PAN) and for submitting income tax return.

Income Tax return filing: Who can file tax return using ITR Form-2?

Income Tax return filing: Who can file tax return using ITR Form-2?

Fri, Jun 14, 2019

The Income Tax Department has categorised taxpayers on the basis of income, source of income and many other factors to ensure easy compliance. While taxpayers falling in all these categories have to file income tax return, they need to do it through different forms.

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