Category: Income Tax

Clipped from: https://economictimes.indiatimes.com/wealth/tax/when-can-you-not-use-form-itr1-to-file-income-tax-return-for-fy-2020-21/articleshow/88524293.cmsSynopsis Form ITR-1 is used by most individual salaried taxpayers to file their income tax returns. However, there are certain situations where an individual

Clipped from: https://economictimes.indiatimes.com/wealth/tax/when-can-you-not-use-form-itr1-to-file-income-tax-return-for-fy-2020-21/articleshow/88524293.cmsSynopsis Form ITR-1 is used by most individual salaried taxpayers to file their income tax returns. However, there are certain situations where an individual

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-changes-in-2021-precautions-to-take-when-filing-and-tax-resolutions-for-2022/videoshow/88525908.cms We recap tax changes, particularly in context of the ITR filing season and for last-minute tax filers, with the help of Divya Baweja,

Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-filing-advantages-of-filing-itr-even-if-total-income-is-below-exemption-limit/2392144/ The filing of income tax return helps in a faster and easier processing of loan documents. Apart from the loan, the income tax

Clipped from: https://www.thehindubusinessline.com/money-and-banking/not-filing-i-t-returns-can-affect-visa-applications/article38050744.ece Close up of Indian Income tax return form on isolated background   –  istock.com/lakshmiprasad S Close up of Indian Income tax return form on

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/why-it-pays-to-be-a-resident-tax-payer/article38037526.ece iStockphoto   –  iStockphoto iStockphoto   –  iStockphoto× Certain tax benefits are available to a resident individual but not to non-residents Income tax laws generally

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/how-to-calculate-tax-on-selling-stocks-post-split/article38037452.ece I had 25 Vaibhav Global shares purchased on 4/3/21 at ₹3930.49 and 25 shares on 5/3/21 at ₹3740.19. Shares were split on 7/5/21

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-penalty-these-taxpayers-dont-have-to-pay-late-fee-for-missing-deadline/articleshow/86029470.cmsSynopsis There are certain individuals who can file their ITR without paying a penalty even after the expiry of the deadline. Let us take

Clipped from: https://taxguru.in/income-tax/hc-stays-assessment-order-passed-passing-draft-assessment-order.html?utm_source=feedburner&utm_medium=email Sams Facilities Management Private Limited Vs National Faceless Assessment Centre & Anr. (Delhi High Court) 1. Allowed, subject to just exceptions. W.P.(C) 5185/2021

Clipped from: https://taxguru.in/income-tax/claim-section-80g-deduction-reflected-pre-filled-itr.html?utm_source=feedburner&utm_medium=email WHAT TO DO WHEN YOU NOT FIND THE ORGANISATION YOU HAVE DONATED FOR CLAIMING DEDUCTION U/S. 80G OF INCOME TAX ACT,1961. The Central

lipped from: https://taxguru.in/income-tax/annual-information-statement-sale-vehicle.html?utm_source=feedburner&utm_medium=email Recently, the income tax department has rolled out two new statements, namely, ‘Annual Information Statement’ and ‘Taxpayers Information Summary’. ‘Annual Information Statement’ provides

Clipped from: https://taxguru.in/income-tax/view-ais-annual-information-statement.html?utm_source=feedburner&utm_medium=email On 1st November, 2021 Income Tax Department has rolled out the new AIS (Annual Information Statement) on Compliance Portal which provides comprehensive view of financial transaction

lipped from: https://www.deccanherald.com/national/north-and-central/cscs-prepare-for-itr-filing-as-deadline-approaches-1064332.html CSC is a Special Purpose Vehicle under the Ministry of Electronics & IT, has readied 75,000 centres mainly in urban and semi-urban areas

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-file-itr-1-with-salary-income-home-loan-other-incomes-for-fy-2020-21/articleshow/86001429.cmsThe first step in filing one’s Income-tax Return (ITR) is selecting the right tax return form. The applicable tax return form depends on the

Clipped from: https://www.thehindubusinessline.com/money-and-banking/re-examination-of-tax-incentives-to-encourage-philanthropy-urgently-required-csip-director/article38036286.ece Study says rate of incentives has declined due to policy changes even as lower personal income tax rates and abolition of inheritance and

Clipped from: https://www.business-standard.com/article/pf/things-to-remember-as-you-rush-to-file-your-return-ahead-of-december-31-121122400724_1.html To avoid any last-minute errors, one must remember to use the correct ITR form, collate all relevant income and expense documents for quick

Clipped from: https://economictimes.indiatimes.com/wealth/tax/who-has-to-file-income-tax-return-mandatorily/articleshow/78965134.cmsSynopsis As per income tax laws, ITR must be mandatorily filed if a resident individual’s total income during the financial year exceeds the basic