Archit Gupta -- founder and CEO, ClearTax.com -- lists common mistakes and how to avoid them for filing a hassle-free income tax return.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Today one can easily file returns online.
With the online tax filing and automation of the tax process the number of mistakes made by taxpayers during filing of taxes have been reduced, but considering the importance of the information, a mistake or an error will be an invitation to trouble.
'If you miss the deadline, you can still file a belated tax return till March 31, 2021, with a fee under Section 234F, which could be up to Rs 10,000, in addition to an interest under Section 234A and 234B of the Act.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Tax Guru Anil Rego answers your personal income tax queries.
Individuals and entities, whose accounts are not required to be audited, were mandated to file I-T returns by July 31.
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
Without Form 16, tax computation becomes cumbersome
From the date you put in your papers, the employer will promptly freeze your salary payouts and you will get everything along with the full and final settlement.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Ahead of the second instalment of advance tax, the revenue department is scrutinising entities that have registered negative growth in their tax deducted at source (TDS) payments, even when they reported healthy advance tax payments. According to sources, taxmen have observed a mismatch in TDS payments from at least 60-65 small to mid-sized companies. Officials said it is unusual for TDS to not increase, given the improved turnover and profits - if higher advance tax payments are any indication.
IMAGES from the IPL match played between Kolkata Knight Riders and Punjab Kings in Kolkata on Monday.
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'I want to warn Ajit dada and all those who have stabbed Pawar saheb by joining hands with the BJP.' 'Don't write saheb's obituaries so soon.'
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
The grand old party faces the onerous task of rebuilding its moribund organisation, which is struggling to overcome a leadership crisis and regain credibility with the voters.
It's better to inform your new employer about income earned and deduction availed with the previous one.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
"The girls are losing out on studies," lawyer Prashant Bhushan said.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Images from the T20 World Cup match between Sri Lanka and England at the Sydney Cricket Ground on Saturday.
A bench headed by Chief Justice Ranjan Gogoi passed the orders on the plea filed by one Satish Ukey.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
India's tax pie seems to have undergone a subtle change with a sharp drop in direct tax collections resulting from a disproportionate impact of the COVID-19 carnage on incomes. The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020. In an interview with PTI, finance secretary Ajay Bhushan Pandey said in a pandemic like this where the economy has been impacted, any large scale changes impact direct taxes more severely, whereas indirect tax collection is mostly proportional to business turnover and compliance.
IMAGES from the IPL match played between KKR and Mumbai Indians in Navi Mumbai on Monday.
In an online chat with readers on July 8, Anil Rego answered their tax queries. Here's the chat transcript in case you missed the chat
Tax Guru Anil Rego answers your personal income tax queries
It is the duty of a tax payer to record all his/her transactions, to explain sources of payments made by him/her and to declare the true income in the returns of income filed every year.
The Union finance ministry has asked field officers of the income tax department to not be adversarial to assessees, and to not send high-pitched demands without a proper basis.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Penalty can be levied at 100-300 per cent of the tax evaded, while tax is imposed at the highest rate of 30 per cent.
Addressing a press conference, farmer leader Darshan Pal Singh said their proposed parade will be called "Kisan Parade" and it will be be held after the Republic Day parade.
Because they can easily find them out by analysing your financial transactions.
After taxpayers file returns, IT department checks them.
