Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Assessment year 2020-2021 saw returns filed fall to 69.7 million and stood at 71.4 million in assessment year 2021-2022.
It was on January 30, 2020 when a third-year medical student from Wuhan university tested positive for coronavirus, becoming the country's first COVID-19 patient, days after she had returned home following semester holidays.
The Delhi high court on Monday granted "last opportunity" to the Enforcement Directorate to respond to a petition by media baron Raghav Bahl to quash a money laundering case against him, but refused to pass an order staying the investigation at this stage.
The number of people who file tax returns has also increased by about 65 per cent during this period from 3.31 crore in FY 2013-14 to 5.44 crore in 2017-18 fiscal, the CBDT said in the statement.
Revenue secretary Tarun Bajaj along with senior finance ministry officials on Thursday held a meeting with Infosys managing director Salil Parekh to review the performance of the new income tax portal. More than 3.5 crore Income Tax Returns (ITR) have been filed so far for the financial year 2020-21 through the portal, which had faced glitches following which the ministry had directed Infosys to urgently address the issues. Infosys has developed the new income tax e-filing portal 'www.incometax.gov.in'.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Growth in incomes in the top most slabs have increased substantially compared to (a) previous two years and (b) lower income brackets
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'Delta continues to be the dominant lineage for new cases across all parts of India in recent samples and remains the most rapidly rising lineage globally that is responsible for multiple outbreaks, including across Southeast Asia, which shows the fastest growth in new cases globally,' the INSACOG said.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
China's Zero-COVID-19 case policy is increasingly coming under stress as the country is reporting a spike in the number of coronavirus infections from different provinces ahead of the Beijing Winter Olympic Games with over 2,500 people undergoing treatment.
Income-tax payers fear they will receive notices from the government because the annual information statement (AIS) provided by the I-T department in many cases is showing incomes in excess of their earnings. The Central Board of Direct Taxes (CBDT) has dismissed these fears as unfounded. The deadline for filing income-tax returns (ITRs) for the assessment year 2022-23 ended on July 31.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
As these forms are quite elaborate, their early notification will give assessees more time to get the documentation and paperwork ready, and hence make complete disclosures while filing their returns.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
A normal assessment notice is served under Section 148.
There are quite a few reasons, and the main villain was not Chennai Express.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Namrata Thakker brings you the highlights from the fun episode!
The income tax department on Tuesday said its new utility developed to help TDS deductors and TCS collectors identify non-filers or "specified persons" on whom higher rate of taxes will be levied will help ease compliance burden. From July 1, non-filers of income tax returns for the past two fiscal years would be subjected to higher tax deducted at source (TDS) and tax collected at source (TCS) rate if such tax deduction was Rs 50,000 or more in each of those two years. The provision was introduced in the 2021 Budget. The TDS deductors and TCS collectors would be required to check on the functionality of the PAN of the vendor from whom TDS is to be deducted or TCS to be collected, only at the beginning of the financial year.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The highly transmissible Delta variant of SARS-CoV-2 has mutated further to form the 'Delta plus' or 'AY.1' variant but there is no immediate cause for concern in India as its incidence in the country is still low, scientists in New Delhi said.
Tax Guru Anil Rego answers your personal income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The memorial has been built at the unit level near the KM-120 post on the strategic road Durbuk-Shyok-Daulat Beg Oldie, Ladakh. The memorial has names of 20 soldiers and the details of the June 15 operation.
The RJD supporters were creating a ruckus outside 10, Circular Road, where Rabri Devi lives and had been locked from inside by a Central Bureau Investigation team which had raided the house on Friday in connection with its case against Lalu Prasad Yadav, her husband, in the railway recruitment scandal.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Deepika, Ranveer's romantic banter.
The CBDT said this is "the final opportunity being provided to the taxpayers to regularise their pending ITRs pertaining to AYs 2009-10 till 2014-15.
The Central Board of Direct Taxes (CBDT) has extended various tax returns filing deadlines till December 31 this year but it will continue to levy interest on delayed payments made after July 31, the original due date. Officials say tax payment has to be done through net banking, and the assessee doesn't need to use the e-filing portal, which has been facing glitches. So, taxpayers have to bear the interest payment liability of 1 per cent per month on the outstanding tax for those who filed a return after July 31.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The move came in view of a PIL filed in the Patna HC where concerns have been raised that some of these declarants could be engaged in routing their illegal funds.
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
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.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The highly virulent 'Delta plus' variant of the novel coronavirus could stoke a third wave in Maharashtra, according to a presentation made at a meeting attended by Chief Minister Uddhav Thackeray.
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