Benefits like free medical samples received by doctors and gifts retained by social media influencers will attract TDS
Report any discrepancy between the two documents to the employer immediately and get it rectified
Talking to PTI, Singh said the number of income tax returns last fiscal was 7.14 crore against 6.9 crore in the preceding financial year, showing a clear growth.
To avail of this relief, you must file Form 10E before submitting income-tax return
Income-Tax department selects cases manually for comprehensive scrutiny
Taxpayers filing ITR-U, which can be filed within 2 years of the end of the relevant assessment year, will have to give reasons for updating the income
As we enter FY23, remember April is a good time to look into your tax planning for the year ahead
Further, in ITR-7 political parties will have to give details of voluntary contributions under different categories received by them during the fiscal
Breaching March 31 cut-off date will have assessee receive show-cause notice for undisclosed income
This includes personal income tax refunds of Rs 65,498 crore to over 2.04 crore assessees and corporate tax refunds of Rs 1.17 lakh crore to 2.30 lakh entities
More than 5.41 crore income tax returns (ITRs) filed have been verified and 1.58 crore refunds amounting to Rs 31,857 crore for AY 2021-22 (2020-21 fiscal) have been issued
Of 61.7 million ITRs filed for the assessment year 2021-22, 48 per cent of these are ITR-1, nine per cent is ITR-2, 13 per cent is ITR-3, 27 per cent are ITR-4
The Central Board of Direct Taxes has issued Rs 1.62 lakh crore income tax refunds to over 1.79 crore taxpayers till January 24, 2022 of the current financial year, official data showed on Thursday.
Correct your mistake or provide additional information required by Department so that your return gets processed
'The faceless assessment scheme in India draws upon the best practices of the UK HRMC and Australian ATO'
However, you may have to pay a penalty and won't be able to carry forward most types of losses
Telecom companies push for 90-95% cut in base price of 5G spectrum. More in today's top headlines
Assessment Year 2021-22 is for income earned in the financial year 2020-21
Nearly 5.89 crore income tax returns for the 2020-21 fiscal (ended March 2021) have been filed on the new e-filing portal till December 31 deadline, the I-T department said on Saturday. Of this, more than 46.11 lakh ITRs were filed on the last date or December 31 alone. "Nearly 5.89 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as on 31st December, 2021, the extended due date," the Central Board of Direct Taxes (CBDT) said in a statement. In comparison, as on January 10, 2021, (the extended due date for ITRs for AY 2020-21), the total number of ITRs filed was 5.95 crore. As many as 31.05 lakh ITRs filed were on the last day or January 10, 2021. Out of 5.89 crore ITRs filed for AY 2021-22 (2020-21 fiscal), 49.6 per cent of these are ITR1 (2.92 crore), 9.3 per cent are ITR2 (54.8 lakh), 12.1 per cent are ITR3 (71.05 lakh), 27.2 per cent are ITR4 (1.60 crore), 1.3 per cent are ITR5 (7.66 lakh). Besides, 2.58 lakh ITR-6 and 0.6
Revenue Secretary Tarun Bajaj said ITR filing is going on 'very smoothly'