Category: Income Tax

Clipped from: https://www.thehindubusinessline.com/news/extension-of-due-date-brings-no-relief-to-assessees/article36420636.ece?homepage=true Delay in payments to attract interest up to2 per cent; experts call for change in norms Extension of the due date for filing

Clipped from: https://www.business-standard.com/article/pf/things-to-keep-in-mind-while-filing-your-income-tax-return-this-year-121091000765_1.html Ensure you file your returns ahead of time, in case you need to make changes The taxpayer needs to report all his bank

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-claim-ltc-cash-voucher-exemption-in-your-income-tax-return/articleshow/86059362.cmsSynopsis As per the government, individuals having LTC/LTA in their salary package would have been unable to travel and claim income tax exemption on

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/claiming-tds-on-interest-income-from-bank-ac-jointly-held-with-late-parent/article36407248.ece My father-in-law P V Krishan (late) and my wife Premaramani are joint SB and FD A/c holders with a leading private sector bank

Clipped from: https://www.business-standard.com/article/pf/things-to-keep-in-mind-while-filing-your-income-tax-return-this-year-121091000765_1.html Ensure you file your returns ahead of time, in case you need to make changes The Central Board of Direct Taxes (CBDT) has

Clipped from: https://www.business-standard.com/article/pf/nris-should-apply-to-i-t-dept-for-relief-from-double-taxation-experts-121082500047_1.html If they have lost non-resident status because of enforced stay in India, this can bring them some reprieve Photo: Shutterstock With the September

Clipped from: https://economictimes.indiatimes.com/news/india/i-t-survey-at-premises-of-2-delhi-based-portals/articleshow/86104802.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The income tax department on Friday conducted survey operations at the premises of Delhi-based media portals Newsclick and Newslaundry, people aware of the

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.cms The first step in filing one’s Income-tax Return (ITR) is selecting the right tax return form. The applicable tax return form depends on

Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/infosys-is-a-technologist-not-tax-expert-mohandas-pai-opens-up-on-the-i-t-filing-fiasco/articleshow/86057508.cmsSynopsis Former director director Mohandas Pai has highlighted how the problems with the Income Tax Portal arose from unrealistic and vague expectations from both

Clipped from: https://www.financialexpress.com/money/income-tax/itr-filing-due-date-for-ay-2021-22-extended-check-new-deadline-to-file-income-tax-return/2327436/ CBDT has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment

Clipped from: https://www.business-standard.com/article/companies/the-income-tax-portal-infosys-fiasco-whose-glitch-is-it-anyway-121090801400_1.html As former finance secretary Sumit Bose pointed out, govt often does not set clear milestones. The penalties, too, are often most difficult to

Clipped from: https://economictimes.indiatimes.com/news/india/income-tax-portals-tech-issues-being-progressively-addressed-1-19-crore-itrs-filed-cbdt/articleshow/86040786.cmsSynopsis Two facilities ( Aadhaar- PAN linking and e-PANs) are being availed of by over 0.50 lakh taxpayers on a daily basis in September

lipped from: https://economictimes.indiatimes.com/wealth/tax/penalty-for-missing-itr-filing-deadline-has-been-cut-to-half/articleshow/85973433.cms For the financial year 2020-21, the deadline to file income tax return (ITR) is September 30, 2021 (it was extended from the usual deadline of

Clipped from: https://www.business-standard.com/article/pf/senior-citizens-above-75-years-can-avoid-filing-itr-from-next-year-121090701400_1.html Instead, they will just have to make a declaration in Form 12BBA to their bank, which will deduct TDS Senior citizens must fulfil

Clipped from: https://www.financialexpress.com/money/have-made-donations-heres-how-to-avail-tax-benefits-under-section-80g/2325731/ Donations made to a foreign trust or any political party do not qualify for this deduction, however, contributions towards the PM CARES Fund

Clipped from: https://www.businesstoday.in/latest/top-story/story/cbdt-allows-taxpayers-to-file-settlement-application-till-sep-30-306142-2021-09-07 While no application for settlement can be filed on or after Feb 1, 2021 as per the amended Finance Act, the government had

Clipped from: https://economictimes.indiatimes.com/news/economy/finance/yash-birla-wins-first-round-of-tax-battle/articleshow/85990914.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis In one of the first high-profile cases under the new Black Money law, Yashovardhan Birla has won the first round in his tussle