Category: Income Tax

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

Clipped from: https://economictimes.indiatimes.com/wealth/tax/why-itr-filing-deadline-for-fy-2020-21-may-be-extended-beyond-december-31-2021-for-individuals/articleshow/88336884.cmsSynopsis Compared to last year, i.e., FY2019-20, fewer number of taxpayers have filed their ITR this year in FY2020-21. It is yet to be

Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-purchase-of-agricultural-land-does-not-require-disclosure-in-itr/2385993/ You shall be required to file an ITR only if your income from running a beauty salon exceeds the threshold of Rs 2.5

Clipped from: https://www.business-standard.com/article/pf/choice-of-wrong-itr-form-can-lead-to-a-notice-from-income-tax-dept-121121600727_1.html Take into account the amount and nature of your income, and residency status when choosing form With the December 31 deadline for filing

Clipped from: https://www.business-standard.com/article/pf/capital-gains-or-rent-all-income-must-be-reported-in-income-tax-return-121122200797_1.html Capital gains on switching between MF plans, notional income from vacant property, minor’s income are ones taxpayers often overlook. Some early Income-Tax Return (ITR)

Clipped from: https://indianexpress.com/article/business/itr-filing-fy-2020-21-know-last-date-list-of-documents-required-to-file-income-tax-return-7684873/ Income Tax Return (ITR) Filing FY 2020-21 Last Date, documents required: Have you filed your income tax return (ITR) for the financial year

Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-is-annual-information-statement/articleshow/88353864.cmsSynopsis If the individual finds that some of the information stated in the AIS is not correct, he/she may file a feedback for amendment

lipped from: https://www.business-standard.com/podcast/finance/income-tax-return-and-types-of-itr-forms-121121901065_1.html The deadline for filing IT return is drawing close. Many wait till the last moment to finish the exercise, but that is not

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-check-itr-v-receipt-status-without-logging-into-your-e-filing-account/articleshow/86985935.cmsSynopsis Do keep in mind that the ITR must be verified within 120 days of filing it. Thus, if you are using the physical

Clipped from: https://www.deccanherald.com/business/family-finance/know-your-tax-on-dividends-and-sale-of-shares-1032207.html It is important to note that the benefit of indexation is not available for LTCG on the sale of listed shares Representative image.

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-get-errors-in-annual-information-statement-corrected/articleshow/87731142.cmsSynopsis Annual Information Statement (AIS) contains pre-filled information shared by various financial entities such as banks, mutual funds, stockbrokers etc. and your employer (salary

Clipped from: https://www.deccanherald.com/business/family-finance/know-your-tax-on-dividends-and-sale-of-shares-1032207.html It is important to note that the benefit of indexation is not available for LTCG on the sale of listed shares Representative image.

Clipped from: https://www.business-standard.com/article/pf/inadequate-disclosures-in-income-tax-returns-can-have-dire-consequences-121121400794_1.html In the worst case, the taxpayer could end up paying a heavy penalty and even suffer a jail term The deadline for filing

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-am-i-eligible-for-grandfathering-of-tax-on-esop/article37986168.ece I exercised my option of 4500 equity shares of my employer bank, offered to me under ESOP Scheme, on January 25, 2018 and

Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-no-tax-relief-on-ltcg-stcg-against-property-purchase/2380285/ Hence, long-term capital gains are taxable at 20% (plus applicable surcharge and cess) or 10% for gains in excess of Rs 1 lakh

Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-is-ais-and-how-to-download-it-from-new-income-tax-portal/articleshow/87732363.cmsSynopsis It’s important to check the information contained in the information statement to ensure that the income tax department has the correct information about