Highlights ITR-1 is one of the most widely used forms by the salaried individuals to file their income tax return (ITR). The form is now available on the income
Category: Income Tax
ITR 1 filing: ITR-1 for FY2018-19 asks for interest income break-up from tax payers–Economic Times
In the previous year’s ITR-1 form, the taxpayers were asked to provide an aggregate amount of income from other sources received by them. For the
NRIs need to file income tax return to get TDS refund – The Financial Express
NRIs need to file income tax return to get TDS refund > We live in Melbourne. We have some fixed deposits in India. Recently the
From now, tax defaulters can’t get away by just paying fine – The Economic Times
The government is tightening the prosecution noose around several categories of tax defaulters, such as those who stash black money offshore. These categories of taxpayers will not be
Income tax notice | ITR filing: Don’t make these mistakes to avoid getting tax notice–Economic Times
Here are some tax filing mistakes that can result in a notice and the steps taxpayers should take to avoid getting one. Highlights The tax
Govt probes I-T and GST mismatch in crackdown against evaders – Times of India
Back in office, the Modi government is set to take up the next stage of action against tax evasion and money laundering with data analysis helping detect thousands of
Modi 2.0: Govt mulls steps to lift demand, to focus on lowering I-T rates | Business Standard News
The government had then given over Rs 1 trillion stimulus to spur the economic growth Faced with warning signs of an economic slowdown, the finance ministry has
Senior citizens with taxable income up to Rs 5 lakh can seek TDS exemption on bank interest – The Economic Times
Senior citizens with a taxable income of up to Rs 5 lakh can now submit in banks and post offices Form 15H to claim exemption
ITR-1: How to fill income from other sources in ITR-1 for FY 2018-19 – The Economic Times
The income tax department has made a few changes to the income tax return (ITR) forms for this year. This means that there will be changes in
With the demonetisation boost gone, reality check for tax regime – The Financial Express
Of the 6.68 crore e-returns filed for income tax in FY19, 6.49 crore were for FY18; hence the 19% growth claim. After analysts at Kotak
ITR filing documents: Documents required for filing ITR–Economic Times
If you have earned some capital gains from the sale of property and/ or mutual funds/ equity shares, then you will be required to report
For the first time in history, income tax filings fall in FY 2019 – The Financial Express
Against the revised estimates, direct tax collection in FY19 fell short by `50,000 crore, and in the current financial year, the budget estimates for direct
Tax dept to share ITR data with GSTN to detect tax evasion by business persons – The Economic Times
As per the order, the exchange of data will be request-based as well as spontaneous and automatic. Soon, the tax department will be sharing the income
Income tax exemption: You can submit Form 15G/Form 15H even if your total income exceeds tax-exempt level
Highlights Banks usually deduct TDS from the interest income on FDs if it crosses the threshold limit It is important to submit Form 15G/Form 15H
Income tax filing: Know which ITR form is right for you – The Financial Express
By Mridul Gupta The new income tax return (ITR) forms have been made applicable for FY18-19. The changes and additional information will not only bring
The income tax returns filing just got more complicated – The Hindu BusinessLine
The revamp of the income tax return (ITR) forms has become an annual ritual and over the years, with the salaried class bearing the brunt
ITR: Key changes in ITR-1 and ITR-2 forms for FY 2018-19 that you need to know–Economic Times
If you are holding shares in an unlisted company then, you are required to disclose the details of your holdings in ITR-2. The income tax return (ITR)
Form 16: New format for salary TDS certificate makes it difficult to fudge income, tax breaks | Income tax returns (ITR) filing–Economic Times
Highlights The new format will allow the tax department to view a detailed break up of the income and tax breaks claimed by a salaried
Investors panic as Income Tax seeks details from unlisted companies – The Economic Times
A Mumbai-based investor who has stakes in a few startups and unlisted companies is seeking to exit the investments in the next few months. Another
CBDT identifies 20.4 million non-filers, asks I-T dept to take action | Business Standard News
The Central Board of Direct Taxes (CBDT) has directed the Income-Tax Department to initiate penalty proceedings by June 30 against non-filers and ‘drop filers’ of tax returns.
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