'Don't treat earning below Rs 5 lakh from shares as biz income'

'Don't treat earning below Rs 5 lakh from shares as biz income'

The move to make annual income of less than Rs 5 lakh made on equity trading as short-term capital gains would help reduce litigations and bring in more retail money into the stock markets.

 

FinMin asks taxpayers to e-file I-T returns early

FinMin asks taxpayers to e-file I-T returns early

The Finance Ministry today asked taxpayers to file their I-T returns for 2015-16 early to avoid the rush towards the last date of August 31.

End of paper trail in e-filing of I-T returns; Aadhaar added

In a major step aimed at easing taxpayer grievances, CBDT on Friday announced that assessees filing I-T returns online will no longer have to send the paper acknowledgement by post as a new Aadhaar-based electronic verification code has been launched to authenticate this document.

I-T dept collects over Rs 3,500 crore from non-filers

The Income Tax department has issued over 20 lakh "intimations" and collected Rs 3,569 crore in the current financial year from those taxpayers who had either not filed their tax returns or did so incorrectly.

Letters to be sent to 23 lakh assessees for not filing returns

In a last-ditch effort to meet revenue targets, the Income Tax Department will be sending out letters to 23 lakh assessees who have not filed returns.

Beware of fraud, fake mobile applications: I-T to taxpayers

The fake mobile applications use the name and purpose of I-T returns to conceal their fraud identity.

`I-T returns, performance report out of RTI ambit`

The Supreme Court has ruled that the details of a person`s income tax returns and performance of an employee are "personal information".

File income tax return online: It's easier, secure

As the July 31 deadline for filing income tax returns looms, there is usually a huge rush among the taxpayers.

SBI launches eFile service for filing I-T returns

State Bank of India (SBI) on Wednesday launched a new service that will facilitate filing Income Tax returns online.

E-filing of I-T returns expected to double this fiscal

The Income Tax department is expecting a 100 percent increase in e-filing of returns this fiscal as taxpayers whose annual salary exceeds Rs 10 lakh.

Sonia refuses to reveal I-T info, fears misuse

Congress president Sonia Gandhi has refused to disclose details of her I-T returns, citing personal freedom and security risk.

‘No I-T returns filed by 300 political parties’

A country-wide probe conducted
by the Income Tax department has found that close to 300
registered political parties have never filed their tax
returns.

CPIO`s order against disclosing ex-CJI`s I-T returns upheld

An Income-Tax appellate authority
here has upheld the order of Central Public Information
Officer (CPIO) not to provide a copy of NHRC chairperson and
former CJI K G Balakrishnan`s I-T returns to an RTI applicant.

Five held for siphoning off Rs 3 cr by filing fake I-T returns

Five persons, including three Income
Tax department officials and a television artist, have been
arrested on charges of duping the department to the tune of Rs
three crore by filing fake I-T returns of PAN card holders.