From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
Even if your only source of income is salary and the tax has been deducted at source, you need to file returns.
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.
Leading FMCG maker HUL said that it has received a demand notice of Rs 962.75 crore from the Income Tax Department and will go in for an appeal against the order. The notice relates to non-deduction of TDS on payment of Rs 3,045 crore to GlaxoSmithKline Consumer Healthcare (GSKCH) for the acquisition of Intellectual Property Rights of the Health Foods Drinks (HFD) business consisting of brands as Horlicks, Boost, Maltova, and Viva, according to a recent exchange filing.
The Delhi High Court has ruled that an individual cannot obtain details of their spouse's income from authorities by filing an application under the Right to Information (RTI) Act.
The Indian government has informed the Lok Sabha that the income-tax return (ITR) e-filing portal is functioning in a 'largely stable and efficient manner' despite a significant increase in traffic during the peak filing season. However, it acknowledged transient technical issues and disclosed that contractual penalties have been imposed on Infosys for project delays and service-level agreement failures.
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.
The government had in May extended the date for filing ITR for FY2019-20 from July 31 to November 30, to give compliance relief to taxpayers.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
With the new tax slabs applicable for income earned during Financial Year 2014-15 and host of new changes in income tax returns and filing norms, this e-filing season will certainly bring in a new experience for taxpayers. Here's how
If saving taxes is a cause for concern, filing tax returns is an equally worrying thing for most taxpayers. Thanks to the complex system of tax filing, with its various forms and exclusions that invariably change every financial year, taxpayers are left in the lurch! Here's a simple ready reckoner that takes you through the steps to file tax.
These situations require mandatory filing of Income Tax Return as per the provisions of the Income Tax Act, 1961
You don't need to be intimidated by the thought of filing tax returns
The forms might soon come "pre-filled" and taxpayers won't have to fill details such as income, income sources, and personal details
The deadline for filing income tax returns is (July 31) fast approaching. While many may be filing returns through their chartered accountant, filing e-returns (electronic returns) is the fastest and more convenient.
In this article we shall discuss four preliminary steps to be taken for filing your income tax return accurately and correctly.
The Allahabad High Court has quashed a magistrate court's order rejecting a woman's plea for her husband's income and property details in a domestic violence case, ordering a fresh review and emphasising the importance of income disclosure in such cases.
In order to avoid late payment, interest and penalty know these things before filing income tax returns...
rediffGURU T S Khurana answers readers' personal income tax queries
Taxpayers should reconcile returns with AIS, Form 26AS and maintain all supporting records.
In the era of e-filing, small mistakes lead either to delayed or complete denial of income tax refunds. So, avoid these 5 common mistakes that could lead to delay in refunds.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
With filing possible only online, there is no scope for any error.
Tax treatment depends on the activity and manner of earning income.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
It's tax time and you need to know your basics. . .
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
Can't believe you can file your income tax return without Form 16? Read this...
Now that you know what you must do BEFORE and WHILE filing income tax returns online, here's what you must do AFTER you have filed returns online.
It is very important to maintain your tax record even if you are not in the taxable income bracket as tax return papers are required when applying for a loan
With digital technology, the I-T department's ability to catch tax evaders has increased many times.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Archit Gupta -- founder and CEO, ClearTax.com -- lists common mistakes and how to avoid them for filing a hassle-free income tax return.
The Union Government has extended the last date for filing Income-Tax to October 31 , 2004. Take the Rediff Business Quiz and find out how much you know about Income-Tax.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
Salaried taxpayers should not use these forms blindly to file their income-tax returns.
The Supreme Court has emphasised the need for timely investigations and conclusions of criminal cases involving illicit money in elections. Observing that black money compromises democracy and the rule of law, the court issued several directives, including reporting seizures to competent authorities within 24 hours, completing investigations within a year, and submitting quarterly status reports to the Election Commission. The ruling also mandates High Courts to designate special courts for expeditious disposal of cases against candidates and requires High Court approval for withdrawing cases.
Here's a simple primer to what actually Form 16 is and what must be done with it.
