It's tax time and you need to know your basics. . .
"The CBDT extends the 'due date' for filing of ITRs as well as reports of Audit (which were required to be filed by the said specified date) from September 30, 2018 to October 15, 2018 in respect of the said categories of taxpayers," the CBDT said in a statement.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
Team Anna member Arvind Kejriwal did not comply with the income tax department notice asking him to pay over Rs 9 lakh in dues, saying he needed more time to decide on the issue as he was given "very little time".
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
There has been an unprecedented surge in number of returns being e-filed.
The peak rate of 30% applies on annual income of individuals above Rs 10 lakhs.
The Union Cabinet dropped the condition laid by previous government to exempt income tax payers from Haj subsidy.
Captain Pradeep Shoury Arya is an Income-Tax officer whose mission against terrorists in J&K won him the Shaurya Chakra.
Whether salaried or running your own business, it's about time to get your investment proofs in tax-saving instruments ready for filing your income tax returns later this year.
Called Signature Villa, the property was gifted to him by Nakheel Public Joint Stock Company. The dispute was over whether this was a gift or payment for services Khan had rendered to the company.
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
Archit Gupta on how can you maximise your savings and reduce your taxable income.
'A huge number of declarations are expected to be made through the official e-filing website of the Income Tax department.'
Net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal, on higher advance tax payment by corporates.
Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order. The Bengaluru-headquartered company said it is in the process of evaluating the impact of the order on its financial statements for the quarter and year ending March 31, 2024. Infosys also said it is evaluating filing an appeal against this order.
Here is a quick guide to help you understand the typical documents and forms required for filing returns. A clear understanding helps you to file your returns correctly and accurately.
The identity of the informant shall be kept a secret, it said.
'Till the BJP does not understand Kejriwal they cannot win Delhi.'
There are some solid reasons for acquiring a PAN card (if you don't have one) and filing your ITR within the due date, which is 31st July every year.
Submitting a late return helps you stay compliant with tax regulations and avoid legal issues.
Finance Minister Pranab Mukherjee on Monday said that he proposes to exempt the income of New Pension System Trust from the income tax and any dividend paid to this Trust from Dividend Distribution Tax.
The provisions of deduction of tax at source apply to both but in some cases it is possible to save tax through proper tax planning.
But the party favoured most of the proposals on indirect taxes.
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.
CBDT is the apex policy making body of the IT department.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
This article tries to strip off the jargon and present the contents of the current act with respect to the punishments and penalties applicable to various offences as defined by the tax man.
Concerned over the high outstanding wealth tax and income tax, Finance Minister Jaswant Singh said as against a tax demand of over Rs 70,670 crore, the net collectable demand stood at only 35 per cent of the total amount.
Kingfisher Airlines was found to have deducted tax at source on salary payments but had not deposited it in government account, Minister of State for Finance S S Palanimanickam said in a written reply.
The Delhi high court on Thursday rejected petitions by the Congress challenging the initiation of tax reassessment proceedings against it for a period of four years by tax authorities.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'If an individual makes significant financial investments, she should stick to the old regime.' 'If the individual prefers straightforward computation without any tax benefits, the new regime would be suitable.'
In a measure that will have far-reaching impact on foreign investment and the Vodafone case having a tax implication of Rs 11,000 crore (Rs 110 billion), the government proposed amendment in the Income Tax Act retrospectively from April 1, 1962.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
With this latest notice, the Income Tax department has raised a total demand of Rs 3,567 crore from the Congress.
It is always adivsable to file income tax returns on time.
Wants investment limit for tax savings schemes be increased to Rs 320,000
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