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ITR filing: Last 1 week to go before these income tax deadlines expire on Dec 31

With the Calendar Year set to culminate in a few days, there are a few income tax deadlines that are set to expire at the same time. These deadlines relate to the filing of belated income tax return, Vivad Se Vishwas and declaration of foreign assets. Filing of belated return: Typically, the last date to file income tax return is …

Income File Itr Dec Vivad Se Vishwas Tax Return Foreign Income

6 days, 6 hours ago

CBDT launches campaign to intimate taxpayers on mismatch in ITR filed and AIS

The Hindu

The income tax department on Tuesday said it is sending SMS and emails to taxpayers and non-filers where it has identified mismatch between transactions reported in Annual Information Statement and income disclosed in ITRs for the financial years 2023-24 and 2021-22. In a statement, the Central Board of Direct Taxes said it has launched an electronic campaign to assist taxpayers …

Information Campaign Income Reported Itr This Campaign Cbdt

1 week ago

One million Australians are negatively gearing, new tax figures show

ABC

Nearly half of all Australian landlords have negatively geared properties, according to new figures that show the highest earners are hauling in tens of billions of dollars from tax concessions and loopholes. Capital gains tax concessions will "cost" the federal budget $52 billion this year, and super tax concessions another $51 billion, according to Treasury's annual tax report. Labor vowed …

Policy Cost Billion Cgt Negative Negative Gearing Gearing

1 week ago

Attention taxpayers: CBDT issues alerts to taxpayers on mismatch in ITR, information statement

India TV News

The income tax department said it is issuing alerts to taxpayers and non-filers where it has identified mismatch between transactions reported in Annual Information Statement and income disclosed in ITRs for the financial years 2023-24 and 2021-22. The Central Board of Direct Taxes in a statement said it has launched an electronic campaign to assist taxpayers in resolving mismatches between …

Information Income Reported Itr This Campaign Cbdt Taxpayers

1 week, 4 days ago

IRS recovers $4.7 billion in taxes from scofflaws. But it’s bracing for funding cuts under Trump

LA Times

Republicans have long called for rescinding tens of billions of dollars in funding provided to the IRS under the Inflation Reduction Act. IRS leadership on Thursday announced that the agency has recovered $4.7 billion in back taxes and proceeds from a variety of crimes since the nation’s tax collector received a massive influx of funding through Democrats’ flagship tax, climate …

Tax Congress Trump Funding Democrats Billion Republicans

IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power

Associated Press

WASHINGTON — IRS leadership on Thursday announced that the agency has recovered $4.7 billion in back taxes and proceeds from a variety of crimes since the nation’s tax collector received a massive glut of funding through Democrats’ flagship tax, climate and health law in 2022. On a call with reporters to preview the announcement, IRS Commissioner Danny Werfel said improvements …

Tax Congress Trump Democrats Billion Republicans Irs

2 weeks ago

Karnataka women are filing more income tax returns than ever, with 26% rise: Report

Hindustan Times

Karnataka has seen a significant rise in women filing income tax returns, with numbers climbing from 11.3 lakh in 2019-20 to 14.3 lakh in the assessment year 2023-24. Women now account for about a third of all ITR filers in the state, up from 29 per cent in 2019-20, suggesting their participation is outpacing overall growth trends. Despite economic disruptions …

Growth Bengaluru Karnataka Women Economic State Report

3 weeks, 6 days ago

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat

Live Mint

Balancing fiscal prudence with the need to provide a growth impetus has been a hallmark of our government over past Union budgets. Particularly praiseworthy is the government’s proposal to undertake a comprehensive review of the Income Tax Act of 1961 within the context of reviewing the entire direct and indirect taxation regime. On the indirect taxation side, the 2024-25 budget …

India Taxation Tax Budget Income Act Gst

1 month, 1 week ago

Income Tax Returns data shows that 5 times more people are earning over 50 lakhs per year since PM Modi came to power, pay over 75% of taxes

Op India

Over the course of last ten years, the number of income tax filers has increased by an astounding 120%, as per media reports. The data from income tax return filings shows that the number of people with yearly incomes over Rs 50 lakh surged five-fold from 1.85 lakh in 2013–14, to over 9.39 lakh in 2023–24. Furthermore, from Rs 2.52 …

Tax Income Tax Income Crore Modi Lakh Itr

2 months ago

Income Tax Filers Exceed 2.3 Lakh, with High Majority Being Businesspersons and Professionals

Hindustan Times

Number of taxpayers with over ₹1 crore of taxable income rose significantly in the assessment year 2023-24. The number of taxpayers with more than ₹1 crore of taxable income increased by more than five times, reaching nearly 2.3 lakh. This surge in income earners is attributed to the rise in the number of salaried individuals earning over ₹1 crore, with …

2 months ago

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore

ABP News

India's tax filers have seen a significant surge in recent years, with the number of individuals reporting taxable incomes exceeding Rs 1 crore surging fivefold in the assessment year 2023-24. This growth has been driven by both an increase in the total number of taxpayers and an increase in the number of individuals with taxable incomes exceeding Rs 1 crore.

Taxation Income & Wealth Economic & Financial Government & Policy

4 months, 3 weeks ago

Record income tax return filing; three-fourths of filers opt for new tax regime

Live Mint

New Delhi: Income tax return filings touched a record 72.8 million by end of July, the due date for declaring income earned in FY24 that ended in March, with three-fourths of the filers opting for the new personal income tax regime, the Central Board of Direct Taxes said on Friday. Out of the total tax returns of 72.8 million filed …

Income Regime Filed Filing Tax Returns Cbdt Taxpayers

4 months, 3 weeks ago

Last-minute ITR filers face glitches galore on income tax portal: ‘Infosys got ₹4,200 crore for this?’

Hindustan Times

As the deadline for filing income tax returns ends on Wednesday, July 31, many last-minute filers encountered technical glitches on the income tax portal. Many taxpayers tagged software giant Infosys that has developed the income tax portal. I respectfully request that you initiate portal improvements starting tomorrow and ensure a seamless and efficient experience for taxpayers in the next year,” …

Tax Income Itr Infosys Income Tax Portal Portal Glitches

4 months, 3 weeks ago

Income Tax dept warns ITR filers of stern action in case of bogus TDS claim | Check last date

India TV News

The Income Tax Department on Sunday asked income tax return filers to refrain from making bogus claims for expenses, under-reporting their earnings or exaggerating deductions calling it a punishable offence that causes a delay in issuance of refunds. For individuals with net taxable income of more than Rs 5 lakh for the financial year 2023-24, filing a belated return may …

Tax Income Filed Filing Itr Claim

4 months, 4 weeks ago

New income tax regime: Check how much tax you will pay now

India Today

Finance Minister Nirmala Sitharaman announced key changes to the New Income Tax regime, tweaking tax slabs and increasing the standard deduction. Read Full Budget 2024 Coverage The Finance Minister highlighted that over two-thirds of tax filers chose the new personal income tax regime in the last fiscal year. New Tax Regime after revision The revised tax slabs under the New …

Income Tax Nil Lakh Regime Standard Deduction Rs 3 Lakh

5 months ago

Violating ethics laws rarely yields repercussions in TX — and it's Paxton's fault

Raw Story

In 1989, Bo Pilgrim, an East Texas chicken plant magnate, strolled the floor of the Texas Senate and dispensed $10,000 checks to nine members in an effort to stop a worker’s compensation bill from passing. Lawmakers would soon pass laws prohibiting themselves from accepting donations inside the Capitol and creating the Texas Ethics Commission, an independent body with investigative power, …

Finance Ethics Campaign Enforcement Office Texas Commission

5 months, 1 week ago

ITR E-filing portal glitches: Will Income Tax return deadline be extended beyond July 31?

Hindustan Times

The deadline for filing income tax returns in 2024 is set on July 31. The Income Tax Department's website noted, “Over 2.7 crore ITRs have been filed as on 14 July 2024, which is 13% more compared to returns filed during the same period last year. While the milestone of filing of 1 crore of ITRs for AY 2024-25 arrived …

Tax Income 2024 Filing Portal Icai Income Tax Returns

5 months, 2 weeks ago

Jio launches new plan with 98 days validity and 196GB data: Details

India TV News

Reliance Jio, a telecom giant with more than 440 million active users in India, has recently adjusted the prices of many of its prepaid recharge plans. This plan offers users unlimited voice calling and a generous 2GB of daily data, totalling 196GB over the plan’s duration. Key Benefits Price: Rs 999 Validity: 98 days Data: 2GB daily Voice: Unlimited voice …

India Voice Jio Plan Sms Users This Plan

8 months, 2 weeks ago

Should you itemize or take a standard deduction on your tax return? Here’s what to know

Associated Press

NEW YORK — When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or itemize. However, if the taxpayer’s total itemized deductions are greater than their standard deduction, they must itemize,” says Kathy Pickering, chief tax officer at H&R Block. “One situation where it may be beneficial to itemize is when …

Business Expenses Tax Taxes Hall Standard Deduction

9 months, 3 weeks ago

Evers vetoes Republican-backed bills slashing the income tax, cutting taxes on retirees

Associated Press

MADISON, Wis. — Gov. Tony Evers on Friday vetoed a nearly $800 million income tax cut passed by Republicans, along with bills that would have increased the income tax credit for married couples and raised the amount of retiree income exempt from the state income tax. Republican Sen. Rachael Cabral-Guevara, the main sponsor of the tax cut for retirees, said …

Credit Income Wisconsin Republican State Republicans Evers

9 months, 3 weeks ago

IRS Launches Crackdown On 125,000 Wealthy ‘Non-Filers’

Huff Post

LOADING ERROR LOADING WASHINGTON — The IRS plans to go after 125,000 high-income earners who did not file tax returns going back to 2017 — and the agency says hundreds of millions of dollars of unpaid taxes are involved in these cases. The campaign announced Thursday is part of the agency’s ongoing effort to pursue high wealth tax cheats — …

Tax Irs

10 months, 2 weeks ago

US Tax refund calendar 2024: How soon can Americans expect their refund and other tips

Hindustan Times

There's no rushing such an official undertaking. As tax filing season officially starts Monday, Jan. 29, 2024, a limited number of taxpayers in 12 states will soon be eligible for a program that will allow them to calculate and submit their returns directly to the IRS without having to pay for commercial tax preparation software. The new Internal Revenue Service's …

Income Tax File Irs Refund Direct Deposit

10 months, 3 weeks ago

No changes in income tax rates, slabs, announces Nirmala Sitharaman

Hindustan Times

Finance minister Nirmala Sitharaman on Thursday announced no change in the existing tax regime -- both direct and indirect. For taxpayers, there will be no relief as income tax rates and slabs remain the same in the interim budget that Nirmala Sitharaman presented ahead of the Lok Sabha election 2024. "I propose to retain the same tax rates for direct …

Income Tax Direct Sitharaman Nirmala Sitharaman No Change Tax Rates Tax Returns

1 year, 1 month ago

‘Super rich’ incomes’ share ebbing amid middle-class mobility: CBDT

The Hindu

India’s tax base has widened sharply since 2013-14, with individuals moving up the income ladder and the proportion of super-rich taxpayers’ incomes declining, the Central Board of Direct Taxes said on Thursday, days after the Congress cited income tax data to show widening income inequality in the country. The overall number of income tax returns filed by individuals has risen …

Tax Income Total Individual Gross Returns Cbdt

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Search results for filers

ITR filing: Last 1 week to go before these income tax deadlines expire on Dec 31

CBDT launches campaign to intimate taxpayers on mismatch in ITR filed and AIS

One million Australians are negatively gearing, new tax figures show

Attention taxpayers: CBDT issues alerts to taxpayers on mismatch in ITR, information statement

IRS recovers $4.7 billion in taxes from scofflaws. But it’s bracing for funding cuts under Trump

IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power

Karnataka women are filing more income tax returns than ever, with 26% rise: Report

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat

Income Tax Returns data shows that 5 times more people are earning over 50 lakhs per year since PM Modi came to power, pay over 75% of taxes

Income Tax Filers Exceed 2.3 Lakh, with High Majority Being Businesspersons and Professionals

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore

Record income tax return filing; three-fourths of filers opt for new tax regime

Last-minute ITR filers face glitches galore on income tax portal: ‘Infosys got ₹4,200 crore for this?’

Income Tax dept warns ITR filers of stern action in case of bogus TDS claim | Check last date

New income tax regime: Check how much tax you will pay now

Violating ethics laws rarely yields repercussions in TX — and it's Paxton's fault

ITR E-filing portal glitches: Will Income Tax return deadline be extended beyond July 31?

Jio launches new plan with 98 days validity and 196GB data: Details

Should you itemize or take a standard deduction on your tax return? Here’s what to know

Evers vetoes Republican-backed bills slashing the income tax, cutting taxes on retirees

IRS Launches Crackdown On 125,000 Wealthy ‘Non-Filers’

US Tax refund calendar 2024: How soon can Americans expect their refund and other tips

No changes in income tax rates, slabs, announces Nirmala Sitharaman

‘Super rich’ incomes’ share ebbing amid middle-class mobility: CBDT