Income taxpayer base moved up substantially to 6.26 crore at the end of the last fiscal, from nearly 4 crore earlier, CBDT Chairman Sushil Chandra
Category: Income Tax
NRIs need not give account details if seeking no refund: CBDT–Economic Times–25.07.2017
Non-resident Indians (NRIs) won’t be required to disclose their overseas bank accounts in the income tax return form, the Central Board of Direct Taxes (CBDT)
Revising ITR: How to rectify income tax returns–Economic Times–25.07.2017
After an income tax return is filed, it is processed by the CPC, Income Tax Department. However, after processing, if an assessee realises that some
NRIs: Tax department’s demand to disclose foreign bank accounts sends NRIs, expats into tizzy–Economic Times–24.07.2017
Tax practitioners and lawyers are inundated with phone calls from these individuals who fear non-disclosure could put them on the wrong side of Indian regulations.
Undisclosed income of Rs 71,941 cr found in 3 years: Govt to SC | Business Line–24.07.2017
Massive searches, seizures and surveys by the Income Tax (I-T) department over the last three years have led to the detection of around Rs. 71,941
TDS certificates: What you must check in your TDS certificates, Form26AS & why they should match–Economic Times–22.07.2017
You should ensure that TDS certificates (Form 16/16A) issued to you are downloaded only from TRACES. 1. TDS certificates should be downloaded only from TRACES
Income tax return: 6 ways to verify your income tax return–Economic Times–21.07.2017
As per the existing tax laws, a return filed by the taxpayer is not valid until it is verified as filed by the concerned assessee.
Aadhaar, PAN linking: Filing Income tax returns turns difficult; Here is how – The Financial Express–21.07.2017
All persons who are allotted a PAN as on July 1, 2017 and eligible for Aadhaar, would need to intimate the Aadhaar number to the
Income from House Property: Rented out your house? Here’s how to calculate income from house property for tax purpose–20.07.2017
By Shalini Jain, Tax Partner, EY India House property comprises any building or land attached thereto which you own. It includes flats, shops, office space,
ITR filing: 7 changes that affect income tax return filing this year–20.07.2017
Like every year, income tax return filing is going to be little different this year as well. So, before you begin filing your income tax
Taxpayer base likely to reach 90 lakh, says GSTN Chairman | Business Line–20.07.2017
The taxpayer base seems to have expanded significantly under the Goods and Services Tax (GST) and the GST Network expects the total registrations for the
[Income Tax Evasion–]Mission clean up | Business Line–20.07.2017
While the Central Board of Excise and Customs is busy issuing Notifications and Circulars in a bid to clear the confusion over various provisions of
I-T dept seeks data of property deals worth Rs 1 cr or more in last 10 yrs | Business Standard News–19.07.2017
Illustration: Ajay Mohanty The income tax (I-T) department has asked all sub-registrars and tehsildars under its jurisdiction in Mumbai to send it details of property
ITR filing: 7 changes that affect income tax return filing this year–Economic Times–19.07.2017
By Abhishek Soni, CA and CEO, Tax2win.in Like every year, income tax return filing is going to be little different this year as well. So,
Want to save on tax? Here are deductions you can use while filing ITR | Business Standard News–18.07.2017
Let’s be honest, if given a choice, none of us would like to pay tax on the income we earn. But we have to and
Demonetisation: 5.5 lakh under I-T lens for deposits after note ban–Economic Times–15.07.2017
Over 5.5 lakh people who deposited cash during the demonetisation drive are set to get a call from the income tax department while another one
Filing income tax return: Form 26AS: What is it and how does it help in filing income tax return?–Economic Times–15.07.2017
By Shalini Jain, Tax Partner, EY India What is Form 26AS Form 26AS is an annual consolidated tax statement that can be accessed from
Under Operation Clean Money II, 6.6 lakh more persons on I-T radar | Business Line–15.07.2017
In hot pursuit of black-money hoarders who may have made high-value cash deposits during the demonetisation window, the Income Tax Department has identified an additional
Confused about income tax return filing? Find answers to all your questions | Business Standard News–13.07.2017
The income tax return (ITR) filing season has already begun – in fact, you now have less than 20 days for filing ITR using the
Investment tips: Here’s how you can reduce tax outgo by setting off losses–Business Line–12.07.2017
No one likes making losses on their investments. It defeats the whole purpose of investing to earn a return. But there are circumstances when asset
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