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Income Tax returns News

17 Dec 2024

Does A PAN Card Ever Expire? Find Out What Happens After Cardholder's Death

PAN Card Expiry Date: The Permanent Account Number (PAN) card has become a vital document for numerous financial transactions and serves as a key proof of identity. According to Section 139A of the Income Tax Act, 1961, an individual is permitted to possess only one PAN card.

17 Dec 2024

CBDT Launches Campaign To Intimate Taxpayers On Mismatch In ITR Filed And AIS

Mismatch In ITR Filed: The CBDT said that the purpose of this campaign is to remind and guide individuals who may not have fully disclosed their income in their ITRs to take this opportunity to file revised or belated ITRs for FY 2023-24, the last date of which is December 31.

20 Nov 2024

Taxpayers Hit: New Rule Limits Tax Refund Claims for Past Periods

The Central Board of Direct Taxes (CBDT) has recently released a circular addressing the process for submitting condonation of delay applications related to filing Income Tax Returns (ITR). This request enables taxpayers to file their ITRs even after the official deadline for submission or revision has passed.

26 Oct 2024

Good News For Corporates! Govt Extends ITR Filing Deadline – Check New Date

Specific taxpayers under income tax law are required to complete an income tax audit and submit the report by September 30 of the assessment year.

05 Aug 2024

ITR Refund Status: Is your Income Tax Refund Delayed? Know Why

To process an Income Tax Return (ITR) refund, e-verification of the return is essential. The refund is typically transferred to the taxpayer's account within four to five weeks after the ITR is e-verified.

Income Tax returns

10 Jul 2024

Step-by-Step Guide To File Income Tax Returns And Choose Right ITR Form

Selecting the correct form ensures compliance with tax laws and accurate reporting of income.

Income Tax returns

01 Aug 2023

ITR Filing AY 2023-24: Are You Waiting For ITR Refund? When Can You Expect It?

The deadline for filing income tax returns is over on July 31. If you are waiting for your ITR refund for AY 2023-24, scroll down to find the step-by-step guide.

Rules changes from aug 1

01 Aug 2023

New Rules From Aug 1: GST E-Invoice To LPG Price; Know What All Changed

25 Jul 2023

ITR Filing Notice: 1 Lakh Notices Sent In Cases Of Misrepresentation Of Income

In her address at the 164th Income Tax Day event, the Finance Minister said that tax rates have not gone up over the years, yet revenue has been constantly rising over the past three-four years.

Income Tax returns

23 Jul 2023

Are You An NRI With Inoperative PAN? Check These Steps To Resolve Your Problem

You can check your Jurisdictional Assessing Officer at Income tax official website. You just need to fill your PAN and Mobile number and then verify it by an OTP. Scroll down to find the direct link.

18 Jul 2023

Don't Forget This Income Source, Or Face Rs 10 Lakh Penalty While Filing ITR

It must be completed for assessment year 2023-24: 31st July, 2023. Taxpayers will attract a penalty of Rs 10 Lakh, under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

14 Jul 2023

FM Nirmala's BIG Announcement: 'No I-Tax For Those Earning Up To THIS Much '

FM in a tweet said, ''Under the new regime, there is no income tax to be paid for annual income up to Rs 7 lakh, which effectively increases to Rs 7.27 lakh with marginal relief provisions.''

11 Apr 2023

I-T Dept Notifies CII To Compute Gains Arising Out Of Sale Of Capital Assets

Cost Inflation Index (CII) is used by taxpayers to calculate long-term capital gains arising out of sale of capital assets after adjusting inflation.

06 Dec 2022

Know how to take personal loan even if you don't have an ITR file

Personal loans require proper documentation. ITR is one of the crucial papers for personal loans. NBFCs are non-banking firms.

06 Aug 2022

ITR Filing FY 2021-22: Here's how to check ITR refund status online

After 10 days of filing an ITR, taxpayers in India can check the status of their ITR refund. One can check ITR refund online by logging in to the income tax e-filing portal.

05 Aug 2022

ITR Filing 2021-22: Missed filing crypto gains? Here’s what you can do

The government has instituted a separate taxation framework for crypto assets, often known as virtual digital assets. According to Section 234F of the I-T legislation, taxpayers would be subject to a Rs 5,000 penalty.

01 Aug 2022

ITR Filing deadline ends: Check out the memes that ruled the internet

The government for the first time has not increased the deadline of ITR filing. ITR filing deadline has ended on July 31. Twitter is full of memes on people facing difficulties while filing ITR deadline.

31 Jul 2022

ITR Filing for FY 2021-22: Facing issues with e-verification, check THESE FAQs

The income tax department has released the top ten frequently asked questions surrounding ITR filing. According to standard procedure, it takes 3–4 days for various banks to give the department information.

31 Jul 2022

ITR Filing for FY 2021-22: Will ITR filing due date be extended today?

The government reported that more than 5 crore ITRs for the assessment year 2022–23 had been submitted. The Twitter hashtag "#Extend Due Date Immediately" was trending amid requests for a deadline extension. During the most recent fiscal year 2020–2021, 5.89 crore ITRs were submitted by the extended deadline of December 31, 2021.

30 Jul 2022

ITR Filing FY 2021-22: Is ITR filing, July 31 a bank holiday? Check details

The fact that the ITR filing deadline coincides with a bank holiday does not exclude taxpayers from filing their returns. People need to get serious and immediately submit their returns on the income tax portal.

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