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.
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
The income tax (I-T) department on Tuesday extended the deadline for filing settlement applications for eligible taxpayers till September 30, as the income tax settlement commission (ITSC) ceased to exist from February 1. This comes amid interim relief provided by some high courts, directing acceptance of applications of settlement even after February 1. To dispose the pending settlement applications as on January 31, the central government has constituted Interim Board for Settlement.
Here's a checklist, meant as a handy last-minute reference, that can help you.
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.
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.
Easier access, less time consumed and agency assistance at a small cost have helped online filing of income tax returns catch up in the past couple of years. Tax experts say about one in three returns are now filed online. Experts expect this to rise to 50 per cent.
Easier access, less time consumed and agency assistance at a small cost have helped online filing of income tax returns catch up in the past couple of years. Tax experts say about one in three returns are now filed online. Experts expect this to rise to 50 per cent.
7 states account for over 80 per cent of the total direct tax collections by the Union government.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Taxpayers might face several issues while filing returns this year.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
There are ways to salvage the situation by filing belated returns under various clauses.
Finance Minister Nirmala Sitharaman on Tuesday asked banks and other financial institutions to ensure that their customers must update nominees to help resolve the problem of unclaimed money in future. "I want the banking system, the financial ecosystem including the mutual funds, stock markets to keep in mind that when someone deals with his (customer's) money, the organisations will have to think about the future and ensure that customers nominate their heirs, give the name and address," Sitharaman said speaking at the Global Fintech Fest (GFF) in Mumbai. According to a report, the banking system alone has more than Rs 35,000 crore of unclaimed deposits, while the overall quantum of the unclaimed money is said to be more than Rs 1 lakh crore.
On Aug 28-31, an average of 1.5 mn e-filed tax returns a day, against IRCTC's daily average bookings of 600,000 & Flipkart's 100,000.
Even after filing your income tax return online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR.
Aryan Anand had submitted fake and falsified documents to secure admission into Lehigh University, a private research university in Pennsylvania for the 2023-2024 academic year.
The filing of audit reports was made mandatory in ITR Form 5, 6 and 7 after the tax department noticed discrepancies in filing of some returns along with audit reports.
Here's a step-by-step guide to file your income tax returns online in three easy steps.
Ruling out extension of July 31 deadline for filing income tax returns, IT authorities said on Monday special counters will be opened from July 28 in major cities to meet the eleventh hour rush.
Vedanta to file notice of claim in Cairn India tax case.
Don't feel miserable if you missed the cut-off date for filing income tax returns for financial year 2013-14, which was, July 31, 2014. You have another chance to e-file your tax return before March 31, 2015. Don't miss this one.
Edtech firm Think and Learn, which owns Byju's brand, has not paid the July salary to employees as the company was unable to access its accounts due to a temporary stay granted by the Supreme Court on the NCLAT's decision, a top official said on Tuesday. On August 2, the National Company Law Appellate Tribunal (NCLAT) approved the Rs 158.9 crore dues settlement with BCCI and set aside insolvency proceedings against Byju's.
Most important thing to know is even if you do not have taxable income you may still have to file your income tax return.
The tax filing season is here, and mutual funds have launched tax-saving products.
Even if you don't come in the filing bracket, it is the only way to claim refunds, get visa to some countries.
This time, the linking of the Aadhaar number with of a taxpayer has been made mandatory for filing of an ITR, beginning July 1.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Without Form 16, tax computation becomes cumbersome
It is mandatory for everybody to enter his/her PAN
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
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At present, two options are available for taxpayers to e-file ITR, either e-file ITR by affixing digital signature or without affixing digital signature.
Advance tax needs to be paid by all - individuals, consultants, businessmen and salaried.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
More than 24 prominent charitable institutions in the country - from private trusts, educational societies, statutory authorities, and cricket associations - may soon face tax scrutiny after a Supreme Court (SC) ruling set the limits to which tax exemption can be claimed. Most of these are highly profitable but get tax exemption due to their 'charitable organisation' status. The revenue department is preparing a standard operating procedure to scrutinise their books and evaluate if they can continue to claim tax exemption in the context of the recent SC ruling
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