Under fire for technical glitches plaguing the new income tax return filing portal, Infosys CEO Salil Parekh on Wednesday said the new portal developed by his company is seeing "steady progress" and already 1.9 crore returns have been filed. He further said that taxpayers' concerns are being "progressively addressed". "We are seeing a steady progress on the income tax system. As of yesterday we had over 1.9 crore returns that have been filed using the new system.
The new measure will ease the process of quick generation of refunds of taxpayers.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
India's new tax policy which makes it mandatory to disclose foreign is not so common in developed countries.
The forms for simplified income tax returns are anything but Saral, Sahaj and Sugam: for many readers these would have a familiar ring particularly in the month of July.
Most taxpayers will benefit from being in the old tax regime, assuming they optimise their salary for tax benefits and claim the deductions available to them.
It's that time of the year when the taxman is remembered the most. With just two days left to file tax returns, taxpayers have now awoken to the reality that the due date is at hand.
Individual should be extra careful when taking money from parents or relatives to buy a property
You can electronically verify returns and regularise these by August 31.
The tax department will remain a source of endless nightmares for citizens and 'transparent taxation' will remain an empty slogan and a cruel joke, observes Debashis Basu.
IT major Infosys on Thursday acknowledged that some users continue to experience difficulties in accessing the income tax portal and assured that it is working expeditiously, in collaboration with the income tax department to further streamline end-user experience.
Avoid common mistakes, figure out how to file returns if you invest in stocks and other concerns
The new I-T return forms make things more complex. Even trustees or nominees are in for a tough time.
In an online chat with readers on July 8, Anil Rego answered their tax queries. Here's the chat transcript in case you missed the chat
Finance Minister Nirmala Sitharaman on Monday conveyed to Infosys CEO Salil Parekh in no uncertain terms the government's "deep disappointment and concern" over the continuing glitches in the new income tax filing portal and set September 15 as the deadline for the software major to resolve all snags. As glitches continued to mar the functioning of the portal even after over two months of its launch, Sitharaman summoned Infosys MD & CEO Parekh at her office here to know the reasons for not resolving the snags in the portal. A statement issued by the Income Tax Department said that during the meeting the finance minister emphasised that there is a need for putting in more resources and efforts on the part of Infosys so that the much delayed delivery of agreed services is ensured.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
It helps in applying for a loan, travelling abroad.
Employers will now need to furnish detailed break-up of exemptions that an employee has claimed.
Online tax returns are processed much faster than aper returns and the tax is worked out automatically as the payee completes the form.
Even joint owners and trustees have to maintain records for past 16 years.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The air-to-air missile is to form the main interception armour of the indigenously developed Light Combat Aircraft.
The new forms, 8 in number, are between 2 and 20 pages. There's a list of instructions too
If you were deputed abroad, filing income tax can be tricky.
Two days after its successful trial, India on Saturday again test-fired the indigenously developed surface-to-air Akash missile from the test range at Chandipur near Balasore. "The user specific trial, which formed part of the country's routine air defence exercises, was conducted from the ITR," said a Defence Research Development Organisation official associated with the Akash missile project.
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
While for the consumers, there is some gain and some pain, for India Inc, it's all about compliance, consolidation and parity
Penalty can be levied at 100-300 per cent of the tax evaded, while tax is imposed at the highest rate of 30 per cent.
The missile has a strike range of 2000 km, the sources said soon after it blasted off from a mobile launcher at the Launch Complex-4 of the Integrated Test Range, the sources said.
Filing your income tax return online this year? 5 points you should know to avoid hassles later.
You don't need to be intimidated by the thought of filing tax returns
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
The link requires a person to punch in his PAN number, Aadhaar number and the exact name as given in the Aadhaar card.
The OTP will be sent on the registered mobile number and email of the individual
Don't go for family floater plans; though convenient they cost you more.
With filing possible only online, there is no scope for any error.
Have you planned to file your income tax return? But, did you check Form 26AS before tax filing? If you haven't verified it, you could be looking at trouble
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
While there was unrest in the rest of the Kashmir valley, the Dal Lake was serene and peaceful.
Ankit Mehra, founder and CEO, GyanDhan, an education financing marketplace, tells you how to apply for an education loan in the pandemic.
