Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
She took the room's collective breath away in a pantsuit at The GQ 35 Most Influential Young Indians event.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The government on Tuesday extended till March 15 the deadline for corporate to file Income Tax returns for the fiscal ended March 2021. The deadline to file tax audit report and transfer pricing audit report for 2020-21 fiscal too has been extended till February 15. This is the third extension given to corporate for filing the income tax return for 2020-21 fiscal.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
If the shares are purchased for investment, then it would be treated as a capital asset and taxed as capital gains.
But if the shares are bought and sold in a short duration repeatedly, then it would be taxed as business income, explains Amit Gupta.
This MRSAM version is a surface-to-air missile developed jointly by DRDO and Israel Aerospace Industries for use by the Indian Army.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.
Ravi Singhal explains how a taxpayer can go about reducing her/his tax liability if they suffer losses while investing or trading in the stock market.
The government on Thursday extended the due date of filing income tax returns for 2020-21 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Those spending over Rs 2 lakh on foreign travel, incurring more than Rs 1 lakh electricity bills, or depositing over Rs 1 crore in current account will have to mandatorily file ITR even if their total income is below the taxable limit. The last date for filing has been extended to Nov 30 from Jul 31.
Now, more pieces of information about your transactions and income, such as remittances received from overseas, will be uploaded in Form 26AS by the income-tax (I-T) department. This will help the taxpayer file I-T return (ITR) correctly and assist the department in detecting discrepancies, if any, in the ITR. Besides foreign remittances, these new items are interest on I-T refund, dividend from mutual funds (MFs), and purchase of MFs, among others.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'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.
The MRSAMs were test-fired from the Integrated Test Range launch pad-III at Chandipur near here before noon
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
The RTI exemptions cited by the CPIO to deny information relate to intellectual property rights, trade secrets and information in the nature of commercial confidence, fiduciary relationship, threat to life and safety of persons who give information to law enforcement agencies in confidence, impediment to investigation, prosecution or apprehension and privacy of an individual.
Usually, the Income Tax Department notifies the ITR forms in the first week of April of the relevant assessment year. However, in contrast to the old practice, it has notified two ITR forms ITR-1 and ITR-4 for the assessment year 2020-21 in the first week of January.
Failure to do so leads to incorrect filing and under-reporting of income, with adverse consequences, advises Bindisha Sarang.
The new AIS is expected to make the taxpayer's task of filing ITR easier and faster, points out Bindisha Sarang.
rediffGURU Mihir Tanna answers your income tax queries.
The income tax department on Monday launched a new portal e-filing 2.0, which will make online filing of returns and tax payment easier. The new portal -- www.incometax.gov.in -- replaces the 'http://incometaxindiaefiling.gov.in' site, and can be accessed by taxpayers in various regional languages. The income tax department also asked taxpayers to re-register their DSC (Digital Signature Certificate), update personal mobile number and email ID under 'primary contact', act on 'pending action', if any, and respond to 'outstanding demand'.
The Integrated Test Range of Defence Research and Development Organisation (DRDO) has taken various measures to protect its facilities at Chandipur and Abdul Kalam Island in Odisha, which are likely to be affected by cyclone 'Yaas', an official said.
This is the fourth extension given by the government for taxpayers to file both original and revised ITRs for 2018-19 fiscal.
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. At present, disclosure of crypto holdings and related gains is voluntary. If tax authorities go ahead with the PAN mandate, crypto exchanges will have to furnish a statement of financial transactions (SFT) before the income-tax department.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
Income-tax payers fear they will receive notices from the government because the annual information statement (AIS) provided by the I-T department in many cases is showing incomes in excess of their earnings. The Central Board of Direct Taxes (CBDT) has dismissed these fears as unfounded. The deadline for filing income-tax returns (ITRs) for the assessment year 2022-23 ended on July 31.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Employees should review the accuracy and completeness of the information provided in Form 16. They should confirm that all the tax deducted has been credited correctly.
Infosys, in 2019, was given the contract to develop the new portal. It was launched in June last year and stakeholders had reported glitches and difficulties in the functioning of the portal. "On the I-T project, we are extremely proud that as of December 31, as was reported, 5.8 crore returns were filed through that timeframe.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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