The income tax department has significantly reduced refund processing times over the past few years. But while some taxpayers receive refunds within days, others may wait several weeks or even longer. Here's why.
Ahmedabad Crime Branch arrested a man allegedly involved in a 2021 murder-robbery case in Chhattisgarh. The suspect, Ajaykumar alias Laxmisagar alias Kimtishree Rajnarayan Mishra, was wanted for the murder of Shakuntala Devi.
Kanpur police have uncovered a GST fraud racket where suspects used unsuspecting individuals' documents to create fake firms and route transactions worth nearly Rs 250 crore.
The government has now made quoting of Aadhaar mandatory for filing income tax returns as well as obtaining a new PAN.
Quoting an incorrect PAN during property registration can invite penalties and prosecution.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
The revised guidelines are aimed at curbing discretionary practices by field officers, especially the tendency to seek documents not mandated under the law.
The government on Friday extended by six months till March 2022 the deadline to link PAN with biometric ID Aadhaar. In a statement, the Central Board of Direct Taxes (CBDT) said to address the hardship being faced by various stakeholders on account of the COVID-19 pandemic, the timeline has been extended which will ease compliance.
This is the eighth time that the CBDT has extended the deadline for individuals to link their PAN with Aadhaar.
This is the seventh time that the government has extended the deadline for individuals to link their PAN with Aadhaar.
The income tax department said it has received representations from taxpayers that the last date for intimating the Aadhaar number may further be extended in the wake of the on-going COVID-19 pandemic.
The due date for filing Income Tax returns for 2019-20 has already been extended till November 30, 2020.
Sitharaman said Aadhaar card for NRIs with Indian passports will be issued after their arrival in India, without the mandatory 180 days' waiting period.
This year, the government made quoting of Aadhaar mandatory for filing income tax returns as well as obtaining a new PAN.
Mutual fund investors no longer need to link their PAN with Aadhaar to obtain 'KYC-registered' status.
The Enforcement Directorate on Thursday said it has attached Indian assets of a Sri Lankan man and his son as part of a drugs-linked money laundering investigation against them.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
The deadline extended till March 31, 2019.
Some of the celebrities whose names and details were used by the fraudsters are Abhishek Bachchan, Shilpa Shetty, Madhuri Dixit, Emraan Hashmi and Mahendra Singh Dhoni, Deputy Commissioner of Police (DCP) of Shahadra Rohit Meena said.
The government on Friday extended he deadlines for various income tax compliances and said the amount paid by an employer to employees for Covid-19 treatment would be tax exempt.
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.
In DigiLocker, a user can get different government departments to issue documents in digital format. At present, there are 117 such issuers. You can get PAN, Aadhaar, vehicle fitness certificate, vehicle tax receipt, class ten and twelve mark sheets, driving licence, caste certificate, ration card, birth certificate, college degrees and diplomas, marriage certificate, and many more.
There is no proposal to modify income tax returns forms, finance ministry sources clarified when asked to comment on news reports that the purported statement of financial transactions expansion would result in the filing of high-value financial transactions in ITR by the taxpayers themselves.
I-T said that the Supreme Court on Friday had only given a "partial relief" to those who do not have an Aadhaar.
The extension has been given as the government wanted to ensure that genuine beneficiaries who do not have an Aadhaar number are not denied benefits for the lack of the biometric identifier
There are four simple ways to link PAN to Aadhaar; make the most of the deadline to avoid hassles later, explains Bindisha Sarang.
It is just a question of providing an additional facility to the taxpayer that if he is not quoting PAN and only has Aadhaar, his filing and processes do not get affected, said CBDT chief.
To validate and continue using the existing PAN cards, citizens will have to link them to Aadhaar. Or else, they will be permitted to use Aadhaar instead for filing returns and while making other high-value transactions, specified under the Income Tax Act.
Retirement fund manager EPFO that has initiated the process of seeding KYC details like PAN, Aadhaar of contributing members for making Universal Account Number (UAN) has set a target of seeding 2 crore (20 million) bank account data by end of this month.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
The current 3-page form is simplified version of an income tax return form after removing mandated disclosure of foreign trips and dormant bank accounts introduced two years back.
EPFO's Central Provident Fund Commissioner K K Jalan has said that these directives shall help the body in getting the bank account details of all the members which are necessary for making UAN operational.
'As banks grapple with risk aversion and savers see an erosion in the value of money, the P2P platform can be a win-win for both borrowers and lenders,' notes Tamal Bandyopadhyay.
The meeting was convened by the Congress. Six major parties -- the DMK, the SP, the BSP, the TMC, the AAP and the Shiv Sena -- choose to stay away. The BJP took a swipe at the absence of major opposition parties at the meet and also said that their anti-CAA resolution must've made Pak happy.
The people of India have 50 days, from November 10 to December 30, to deposit notes of Rs 500 and Rs 1,000 in any Bank or Post Office.
The first step you need to take is link your mobile number to Aadhaar.
The Income Tax Return Form-1 (Sahaj) will replace the 7-page form, removing a plethora of columns on deductions from income claimed.
A raise in the I-T exemption limit has been sought by many.
