Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
According to CNBC's list based on KPMG's 2011 survey of 96 countries, these eight nations don't have to pay any income tax to their government.
Because they can easily find them out by analysing your financial transactions.
Learn to track your ITR's progress and correct any errors.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income.
Filing a belated return is far better than not filing at all.
This single amendment, unfortunately, overshadows much of the Budget's promise, explains Harsh Roongta.
The government on Monday extended the due date for filing income tax returns (ITRs) for Assessment Year 2025-26 by a day to September 16 as technical glitches disrupted filings on the last day. A record over 7.3 crore ITRs were filed till September 15, surpassing last year's 7.28 crore, the Central Board of Direct Taxes (CBDT) said in a post on X.
The FM proposed a rule-based automated process for small taxpayers in FY27 Budget.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
TVK chief Vijay, a candidate in the Tamil Nadu Assembly elections, has filed a revised election affidavit disclosing two pending FIRs, addressing discrepancies in his initial filing.
The last date of filing returns for the FY 20009-10 has just passed us. It is quite possible that some of us may not have been able to file returns before the last date. What happens then? Is there any way out?
A Delhi court has ordered the confiscation of several properties belonging to UK-based arms consultant Sanjay Bhandari under the Fugitive Economic Offenders Act, following his declaration as a fugitive in a money laundering case.
The income tax department website which is used by lakhs of tax payers to file their returns online will soon be revamped along with a new website address or URL.
The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not
As the new Income Tax (I-T) Act, 2025 moves towards implementation from April 1, 2026, the finance ministry is reviewing and simplifying the compliance forms used by charitable institutions. Debjyoti Das, principal chief commissioner of income tax (exemption), said the new Act has already reorganised exemption provisions into a clearer and more coherent structure, and the accompanying procedures and forms are now being examined.
In a bid to make tax collection paperless and hassle-free, Centre will start E-refund of income tax from April, having put in place E-filing of tax deduction at source and tax information network.
Here's a list of countries with no personal income tax.
Believe it or not, it's really not all that tough. All you need to do is to get a bit proactive and collect some important documents, something you would need to do anyway, even if you use the services of a professional.
If you have missed your tax filing deadline, there is not much to fret if your tax dues are fully paid, says Anil Rego
Several politicians said they were not even aware of the provision in the UP Act.
The National Stock Exchange (NSE) is reportedly planning to launch its much-anticipated initial public offering (IPO), estimated at around Rs 30,000 crore, in September, potentially valuing the exchange at over Rs 5 lakh crore.
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
The Income Tax Department has clarified that the deadline for ITR filing for Assessment Year 2025-26 is September 15 and there is no further extension as circulated on social media. In a late night post on X on September 14, the department termed "fake" a statement in circulation on social media stating that the due date of filing ITRs has been further extended to September 30, 2025.
'Among corporates, about 60% of income is now reported under the new tax regime.'
'As a result of delays, the desired reliefs are not coming for taxpayers.'
Veena T, daughter of former Kerala Chief Minister Pinarayi Vijayan, appeared before the Enforcement Directorate in Kochi for questioning regarding a money laundering case involving her defunct IT firm, Exalogic Solutions Private Ltd, and mining company CMRL. The probe focuses on alleged payments made without services and loans extended despite repayment failures, leading to accusations of generating "proceeds of crime."
Former Delhi BJP president Adesh Gupta has announced that the Lokayukta has dismissed a corruption complaint filed against him. The complaint, which accused Gupta of availing luxury vehicles and encroaching public land, was rejected by the Lokayukta court.
While the new income tax law replaces the Income Tax Act, 1961 and omits 13 offences, 35 actions and omissions continue to attract criminal liability under 13 provisions.
The Delhi high court on Friday stayed a Rs 1,140 crore angel tax demand raised by the Income Tax department from hospitality and hotel aggregator Oyo's parent company Oravel Stays Private Limited for the assessment year 2020-21. The tax demand was issued under Section 56(2) (viib) of the Income Tax Act, commonly known as the "angel tax" provision, which applies when unlisted companies issue shares at a value exceeding their "fair" market price.
The Enforcement Directorate has issued a fresh summons to Veena T, daughter of former Kerala Chief Minister Pinarayi Vijayan, for questioning on June 17 in a money laundering case involving Cochin Minerals and Rutile Ltd (CMRL). The probe focuses on alleged payments of Rs 2.78 crore from CMRL to Veena's IT firm, Exalogic Solutions, without services rendered, and loans from an associated company.
The income tax department has extended the date for filing audit report for 2023-24 by 7 days till October 7. In a circular, the I-T department said considering the difficulties faced by taxpayers in electronic filing of various audit reports under the Income Tax Act, the deadline is being extended from September 30 to October 7.
This time, the linking of the Aadhaar number with of a taxpayer has been made mandatory for filing of an ITR, beginning July 1.
CPI(M) workers clashed with security personnel outside former Chief Minister Pinarayi Vijayan's residence in Kerala during Enforcement Directorate (ED) searches related to the alleged CMRL monthly payment case involving his daughter.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of a money laundering probe linked to the CMRL case involving his daughter, Veena Vijayan.
Taxpayers are filing their income tax returns (ITRs) early for the Assessment Year 2024-25 (FY25). By April 29, over 592,000 returns were filed, with over 538,000 verified and 367,000 processed. Early filing allows revisions without penalties.
The income tax act states, 'Profession implies apparent achievement in special knowledge as distinguished from mere skill, special knowledge has to be acquired only after study and application.'
A banking Trojan malware has been detected in the Indian cyberspace that is lurking to attack bank customers using Android phones and has already targeted those from more than 27 public and private sector banks, the country's federal cyber security agency said in a latest advisory.
