Category: Income Tax

Clipped from: https://www.thehindubusinessline.com/opinion/dont-discriminate-against-non-residents-on-the-tax-front/article38135519.ece The Income Tax Act, 1961 envisages tax on long term capital gains (LTCG) at a flat 20 per cent (other than those on

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-penalty-these-taxpayers-dont-have-to-pay-late-fee-for-missing-deadline/articleshow/86029470.cmsSynopsis There are certain individuals who can file their ITR without paying a penalty even after the expiry of the deadline. Let us take

Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-gains-on-gilt-funds-are-long-term-if-held-for-more-than-a-year/2398350/ For listed debt funds, gains are classi-fied as long term if held for a period exceeding one year, else the same are treated

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-how-to-read-tax-intimation-notice-under-section-1431/articleshow/70875246.cms?from=mdrSynopsis This notice is sent to you on your registered email ID to inform you whether income tax calculation in the ITR filed by

Clipped from: https://www.thehindubusinessline.com/economy/it-dept-self-assessment-tax-collection-at-4000-cr-in-dec/article38088915.ece 5.89 crore ITRs filed as extended due date ended on Dec 31 The Income-Tax Department has collected over ₹4,000 crore just in December

Clipped from: https://economictimes.indiatimes.com/wealth/tax/missed-the-income-tax-return-filing-deadline-heres-what-you-can-do/articleshow/65631847.cms If you miss the deadline (currently December 31, 2021) to file your income tax return (ITR) for FY 2020-21, don’t worry, you can still file

Clipped from: https://www.business-standard.com/article/pf/3-days-left-for-filing-itr-what-happens-if-you-miss-the-dec-31-deadline-121122901260_1.html The due date for ITR filing for the fin ancial year 2020-21 (the assessment year 2021-22) has been extended twice Income tax returns (ITR) filing

Clipped from: https://www.thehindubusinessline.com/news/itr-for-assessment-year-2020-21-can-be-verified-till-feb-28/article38060448.ece The Central Board of Direct Taxes (CBDT) has provided a one-time relaxation for verification of e-filed ITRs for AY2020-21 If you are yet

Clipped from: https://www.thehindubusinessline.com/news/matter-of-right-for-assessee-it-dept-allows-oral-hearing-via-video-conferencing/article38063166.ece Earlier, it was at the discretion of the dept The Income Tax Assessee can now avail an oral hearing through video conferencing (VC)

Clipped from: https://www.financialexpress.com/money/income-tax-return-how-to-enter-ltcg-details-on-multiple-sip-transactions-quickly/2393638/ After redeeming their investments, equity MF investors face a daunting task of entering investment-wise details of long-term capital gain in their ITR. With

Clipped from: https://www.thehindu.com/business/Economy/income-tax-department-eases-norms-for-faceless-appeal-scheme/article38067104.ece Commissioner (Appeals) to allow hearing via video The Income Tax department has brought in changes to the existing faceless appeal scheme, easing the

Clipped from: https://www.thehindubusinessline.com/money-and-banking/itat-reiterates-gold-jewellery-up-to-500-grams-for-married-women-not-to-be-added-in-taxable-income/article38050958.ece CBDT set the threshold of gold not to be seized during search & seizure Source of gold jewellery with or without diamond studded

Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-dept-tracks-these-46-financial-transactions-of-yours-via-the-annual-information-statement/articleshow/88446198.cmsSynopsis The income tax department has launched the Annual Information Statement or also known as AIS. It shows the information the income tax department