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I-T CPC in Bengaluru gets new pin code for taxpayers benefit

I-T CPC in Bengaluru gets new pin code for taxpayers benefit

Taxpayers wanting to send their paper ITR acknowledgement forms or documents related to refunds and others to the I-T department's CPC in Bengaluru can now send it to a "unique" pin code.

Finance Bill gets presidential assent, takes effect from today

Finance Bill gets presidential assent, takes effect from today

President Pranab Mukherjee has given his assent to the Finance Bill 2017 to give effect to provisions like bar on cash transactions above Rs 2 lakh and compulsory quoting of Aadhaar for filing tax returns.

Read how income tax rules will change from today

Read how income tax rules will change from today

Here we are listing some of the key changes in rules that will be effective from the new financial year 2017-18.

 

I-T dept to seek info on deposits made during demonetisation in new ITRs

I-T dept to seek info on deposits made during demonetisation in new ITRs

The taxman will seek data on deposits made by an assessee during the demonetisation period as part of the new Income Tax Returns (ITRs) that would be notified soon for assessment year 2017-18.

 

New agency to probe anomalies in IT returns filed post demonetisation

There is a move to set up a new agency for probing anomalies in income tax returns filed by 18 lakh people after demonetisation, Union Minister Radha Mohan Singh said on Wednesday.

I-T dept issues 1.62 crore refunds worth Rs 1.42 lakh crore

I-T dept issues 1.62 crore refunds worth Rs 1.42 lakh crore

The income tax department has issued refunds to the tune of Rs 1.42 lakh crore so far this fiscal till February 10, 41.5 percent higher than last year's.

Pay penalty up to Rs 10,000 for filing return late this year

Pay penalty up to Rs 10,000 for filing return late this year

Income tax department may slap penalty up to Rs 10,000 if you fail to file your income tax returns by the given deadline. The rule applies on the Assessment year 2018-19.

Taxmen can dig in past 10 years of returns to unearth black money

Taxmen can dig in past 10 years of returns to unearth black money

In a significant move to check blackmoney, Income Tax Department can now scrutinise income tax returns of previous 10 years if any search leads them to undisclosed deposits or property of over Rs 50 lakh.

Budget 2017: How 'cash donation cap of Rs 2000 on political parties' will curb black money, cleanse system

Budget 2017: How 'cash donation cap of Rs 2000 on political parties' will curb black money, cleanse system

With an aim to cleanse the political funding system and check black money, Finance Minister Arun Jaitley on Wednesday proposed to restrict cash donations to political parties from individuals to Rs 2,000. 

Hurry up! Today is the last day to file your income tax returns

Hurry up! Today is the last day to file your income tax returns

Tax returns for 2015-16 (assessment year 2016-17) were originally to be filed by July 31. But in view of the day-long strike at public sector banks, the deadline has been extended to August 5.

Govt extends last date for filing income tax returns to August 5

Govt extends last date for filing income tax returns to August 5

Tax returns for 2015-16 (assessment year 2016-17) were originally to be filed by 31 July. But in view of the day-long strike at public sector banks, the deadline has been extended to 5 August.

Reminder: File ITRs before July 31 deadline, says I-T dept

Reminder: File ITRs before July 31 deadline, says I-T dept

The department has suggested the taxpayers to opt for e-filing of their Income Tax Returns (ITRs) and enjoy a hassle-free processing of the annual returns filing exercise.

Donald Trump taps climate change sceptic as energy adviser, pushes back on taxes

Donald Trump taps climate change sceptic as energy adviser, pushes back on taxes

Donald Trump on Friday picked a prominent climate change sceptic to help him craft his energy policy and pushed back against renewed calls that he release his income tax returns - saying his tax rate is "none of your business."

CBDT sets August 31 as deadline for clearing pending ITRs, refunds

CBDT sets August 31 as deadline for clearing pending ITRs, refunds

Taxpayers have been advised to check their status of pending returns for the said AYs at the IT department website for e-filing -- http://incometaxindiaefiling.Gov.In/. They can log in by using their PAN number and specific year of assessment.

ClearTax appoints three veteran Flipkart techies

ClearTax appoints three veteran Flipkart techies

 ClearTax, India's leading Income Tax Returns e-filing website, has announced the appointment of Prasanth Nair, Aakash Bapna and Jai Santosh as a part of its technology vertical.

 

Individual e-filing of I-T returns likely from mid-April

Individual e-filing of I-T returns likely from mid-April

  E-filing of income tax returns for individuals for the assessment year 2016-17 is likely to begin sooner this time as the revenue department will put in place the necessary software by mid-April.

Disclose correct details of interest income in ITR: CBDT

Disclose correct details of interest income in ITR: CBDT

The revenue department on Wednesday asked taxpayers to file correct details of interest received from term deposits for the assessment year 2014-15 on or before March 31, while filing their Income Tax returns (ITRs).

 

 Congress declares highest total income at Rs 1,687 crore followed by BJP

Congress declares highest total income at Rs 1,687 crore followed by BJP

Indian National Congress topped the chart of political parties in India by declaring the highest total income at Rs 1,687.12 crore, followed by the BJP, for the period 2010-11 to 2013-14, according to a report by the Association for Democratic Reforms (ADR). 

IT Dept processes 3.27 cr returns during April-December

IT Dept processes 3.27 cr returns during April-December

Income Tax Department has processed 3.27 crore returns and has issued refunds in 1.81 crore cases.

CBDT to issue pre-filled ITR forms to ease e-filing

CBDT to issue pre-filled ITR forms to ease e-filing

As part of efforts to popularise the electronic mode of filing Income Tax Returns (ITRs), the CBDT is planning to provide "pre-filled" return forms to filers which will have an automatic upload of data on income and other vitals of a taxpayer.