Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
Grandmaster Aravindh Chithambaram emerged champion in the 22nd Dubai Open chess tournament in Dubai on Sunday, with 7.5 points as seven Indians finished in the top 10 with R Praggnanandhaa sharing second spot with five others.
The choice should depend on the size of the retirement corpus, stage in life, and state of health.
The Income Tax department has notified forms for filing I-T returns for 2020-21 fiscal, the Central Board of Direct Taxes said on Thursday. "Keeping in view the ongoing crisis due to COVID pandemic and to facilitate the taxpayers, no significant change has been made to the ITR Forms in comparison to the last year's ITR Forms. "Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made," the Central Board of Direct Taxes (CBDT) said in a statement. The Income Tax returns (ITR) forms ask taxpayers if they are opting for a new tax regime.
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.
Parineeti Chopra is holidaying in the Maldives with parents Pawan and Reena and brother Shivang.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
While Bollywood stars and their children have posted some loved-up pictures on Raksha Bandhan, there's a whole lot more!
Two years after the Centre's flagship village electrification scheme Saubhagya concluded with the government claiming 99.9 per cent success, several states have added close to 1.1 million rural households that remain to be connected to the electricity grid. This new list includes earlier unwilling households that have now agreed to have a metered connection and also those built or discovered in the states' surveys since 2019. Assam and Uttar Pradesh are the states that have the majority of such new additions.
The finance ministry has introduced simpler income tax return forms 'Sahaj' and 'Sugam' aimed at reducing compliance burden on salaried persons and small businessmen.
The Income Tax Return Form-1 (Sahaj) will replace the 7-page form, removing a plethora of columns on deductions from income claimed.
Guide to the new income tax return, ITR, forms Sahaj and Sugam to help you identify which ITR form to pick for filing your tax return in 2011.
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.
Investor wealth has jumped by over Rs 12.31 lakh crore in three days, taking the market capitalisation of all BSE-listed companies to a record Rs 198.43 lakh crore on Wednesday as equities continued their Budget-driven rally. The BSE benchmark Sensex closed above the historic 50,000 mark for the first time ever on Wednesday. The 30-share benchmark closed with a gain of 458.03 points or 0.92 per cent at 50,255.75. During the day, it zoomed 728.67 points to its lifetime high of 50,526.39. In three trading days, the benchmark has gained 3,969.98 points or 8.57 per cent.
Grandmaster Abhijeet Gupta won the London Chess Classic's open section with a hard-earned win over GM Keith Arkell of England while International Master Sahaj Grover pulled himself to the second spot after the final round of the event concluded in London.
Sitharaman said that the government keeps 'Antodaya' (development of all) at the centre of all its programmes.
If an assessee misses the December 31 deadline, s/he can file a belated tax return by paying a late filing fee. 'This must be done within three months from the original filing date.'
Care comes from a place of 'What is good for my child's development?' Care is a long-term view of the child's flourishing in life. Care is a sacred activity and it begins at home.
Namrata Thakker takes a look at some of the cutest kiddie pictures of Bollywood's star brigade.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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.
The tax department has released the software for preparing the Income Tax Return forms -- ITR 1-Sahaj, ITR 2, 2A and 4S-Sugam
New ITR forms indirectly force small businesses to maintain books of accounts, something that wasn't needed earlier, says Anupam Jain.
Send us pics of your Raksha Bandhan celebrations with your sibling and we'll publish the best ones.
Sahaj Grover, Y Sandeep, V A V Rajesh and N Srinath topped their respective groups in the fourth round
Here's how the stars are celebrating raksha bandhan this year!
Last year, the e-filing commenced on July 1 as there was delay in finalisation of the ITR forms
India's Sahaj Grover, who achieved his final Grandmaster norm at the World Junior Chess Championship, ended his campaign at the 16th spot after losing his final-round game in the event in Athens.
Sahaj and Sugam, introduced last year, did not help much due to the stringent specifications for printing these forms.
It was a harrowing experience for Chennai-bound Tamil Nadu Express passengers as they saw people burning inside the ill-fated coach.
Lesser-known Indian players continued to impress, while the fancied struggled to score, even as overseas Grandmasters took charge in the third round of the World Junior Chess Championships, being played at Hotel Hyatt, in Pune, on Wednesday. S L Narayanan was one of the early finishers, holding second seed and super GM Robin Van Kampen (2641) to a draw, while 10-year-old Nihal Sarin's impressive display again won him many admirers after he held Balazs CSonka (2409) to a draw to remain unbeaten after three encounters against opponents rated higher than 2400.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
Former world junior champion and second seed Grandmaster Abhijeet Gupta beat Daniel Naroditsky of United States in quick time to jump to joint third spot after the fourth round of Groningen International open chess tournament.
Here's a quick round up on what has changed over the past year and a few other tips to get your tax filing done.
Indian Grandmaster Abhijeet Gupta suffered a shock defeat at the hands of Kaido Kulaots of Estonia and went out of contention for a podium finish after seventh round of the 31st Cappelle La Grande international chess tournament in Cappelle La Grande, France.
Former Under-14 world champion and Grandmaster Vidit Gujrathi won the bronze medal in the World Junior Chess Championship after settling for a quick draw with winner Yu Yangyi of China in the 13th and final round that concluded in Kocaeli, Turkey.
This Raksha Bandhan, we decided to look at some adorable bhai-behen pictures of our film industry from their social media sites.
According to experts, the Nifty has continued to form lower top-lower bottom formations, a trend seen in the last five weeks, and witnessed sharp selling towards 9,700 zones.
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