Category: Income Tax

With Rs 7.3 lakh crore locked in litigations, the tax department has set December 31 as the deadline for deciding all appeals involving demands of

The Income Tax Department has launched an online facility that will enable payment of taxes, tracking of tax deducted at source and filing of applications

Until recently, a person didn’t need to file a return if his taxable income was below Rs 2.5 lakh. But this year onwards, it doesn’t

Until recently, a person didn’t need to file a return if his taxable income was below Rs 2.5 lakh. But this year onwards, it doesn’t

Seeking to send a stern message, the income tax (I-T) department has initiated a plan to take strident action against tax evaders. This is to

The ITR 1 Sahaj form is a one-page simplified return form introduced by the government for salaried individuals to ease the filing process. Only salaried

Cash of over Rs.2 lakh can be used to pay credit card bills, with the Central Board of Direct Taxes relaxing norms that barred such

By Shalini Jain, Tax Partner, EY India The due date for filing your tax return is fast approaching. One of the most important documents that

Exempts certain payments from the ₹2-lakh limit The Central Board of Direct Taxes (CBDT) has exempted certain cash transactions from the purview of the ₹2-lakh

The Central Board of Direct Taxes (CBDT) has revised the tax audit form (3CD), stipulating more disclosures of information including those on monies received for

The limit of Rs 2 lakh is applicable irrespective of the nature of house property (i.e. whether self-occupied or let out or deemed to be

Classifying the rent you receive from a property can be confusing when filing income tax (I-T) returns. The money received can be included in the

Taxpayers are typically cautious and exercise due care while filing income tax (I-T) returns. But very often, in the rush to meet deadlines, many of

  The Central Board of Direct Taxes (CBDT) has decided to go entirely paperless when it comes to serving income tax (I-T) notices to taxpayers

The private websites use cloud-based user interface, which eliminates the need to download any software. Salaried individuals would have started getting the Form 16 from