Budget 2025: The NRI’s wish list
1 day, 9 hours ago

Budget 2025: The NRI’s wish list

Live Mint  

Non-resident Indians play a vital role in India’s economic and social progress, significantly contributing to the country’s growth through remittances, investments, entrepreneurship, and international trade. ESOPs tax deferral India’s tax laws allow employees of ‘eligible startups’, including NRIs, to defer paying taxes on employee stock options, or ESOPs. Filing of Form 10F Currently, NRIs seeking to avail treaty reliefs are required to file a self-declaration electronically in Form 10F, confirming possession of a tax residency certificate from their overseas jurisdictions. Crediting income tax refunds to overseas banks NRIs frequently encounter difficulties receiving tax refunds into their overseas bank accounts. However, NRIs who qualify as residents and ordinarily residents face challenges in claiming credit for taxes paid in their overseas jurisdictions due to the unavailability of foreign tax returns by the 31 December deadline.

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History of this topic

Budget 2025: Easier ITR filing and tax dispute reduction expected, says report
5 days, 19 hours ago

Budget 2025: Easier ITR filing and tax dispute reduction expected, says report

India Today  

The upcoming Union Budget 2025-26 is poised to introduce significant changes to India's tax landscape, aiming to simplify income tax filing and address longstanding tax disputes. According to a Bloomberg report, Finance Minister Nirmala Sitharaman is expected to unveil a comprehensive overhaul of the Income Tax Act, 1961, a move that has been in the works for several months. KEY …

Budget 2025: Will Nirmala Sitharaman address TDS-TCS challenges?
1 week, 4 days ago

Budget 2025: Will Nirmala Sitharaman address TDS-TCS challenges?

India Today  

As the Union Budget 2025-26 draws near, discussions intensify on simplifying India’s tax system. Industry bodies, including the Federation of Indian Chambers of Commerce and Industry, have shared their recommendations with Finance Minister Nirmala Sitharaman, advocating tax reforms to boost the ease of doing business and reduce complexity. SIMPLIFYING TDS-TCS RATES FICCI has proposed reducing the numerous TDS/TCS rates to …

ITR filing deadline extension: Income tax department announces relief for these taxpayers. Details here
1 week, 6 days ago

ITR filing deadline extension: Income tax department announces relief for these taxpayers. Details here

Live Mint  

The Central Board of Direct Taxes has announced an extension for resident individuals to file their belated or revised Income Tax Returns for the Assessment Year 2024-25. The Central Board of Direct Taxes, in exercise of its powers under section 119 of the Income-tax Act,1961, extends the last date for furnishing belated return of income under sub-section of section 139 …

Income tax calendar 2025: Key deadlines for January you need to know
2 weeks ago

Income tax calendar 2025: Key deadlines for January you need to know

India TV News  

Income tax calendar 2025: As the new financial year begins, taxpayers and organizations must stay vigilant about important deadlines in the Income tax calendar for January 2025. Here are the key due dates for January 2025: January 7, 2025 Last date for depositing Tax Deducted at Source or Tax Collected at Source for December 2024. January 30, 2025 Last date …

HC comes to taxpayers’ aid, postpones ITR filing deadline
3 weeks, 1 day ago

HC comes to taxpayers’ aid, postpones ITR filing deadline

Hindustan Times  

MUMBAI: The Bombay high court on Friday directed the Central Board of Direct Taxes to extend the date for e-filing of belated income tax returns for taxpayers required to file by December 31, 2024. A bench of justice Devendra Upadhyaya and justice Amit Borkar, while listening to a Public Interest Litigation filed by the Chamber of Tax Consultants through its …

Key financial deadlines in December 2024: Aadhaar updates, ITR filing and more | Check details
1 month, 2 weeks ago

Key financial deadlines in December 2024: Aadhaar updates, ITR filing and more | Check details

India TV News  

As December approaches, it's essential to be aware of key financial deadlines that can significantly impact your personal finances. AU small finance bank credit card changes – December 22, 2024 AU Small Finance Bank has announced changes to its Ixigo AU credit card’s reward points system. Additionally, the bank is removing reward points for international transactions and implementing a zero …

Can you expect major income tax changes in Budget 2025? Check details
1 month, 4 weeks ago

Can you expect major income tax changes in Budget 2025? Check details

India Today  

The Union Budget 2025-26 is set to usher in a new era of tax simplification in India, with the Finance Ministry working on comprehensive reforms to streamline the income tax system. The proposed reforms focus on three key areas: simplifying tax structures, expanding the tax base, and balancing revenue generation with taxpayer relief. SIMPLER TAX FILING Building on the success …

Major income tax reforms in pipeline, Budget 2025 to ease filing process: Sources
Trending News
2 months ago

Major income tax reforms in pipeline, Budget 2025 to ease filing process: Sources

India Today  

February 2025 is poised to usher in a new era of tax simplicity in India, as the upcoming Union Budget 2025-26 aims to reform the Income Tax Act, making tax filing easier for citizens, according to sources. Sources in the Finance Ministry told India Today TV that a series of major reforms to the income tax system are in the …

Income Tax Deadline: Last one week left to file tax return for THESE taxpayers. Check details
2 months ago

Income Tax Deadline: Last one week left to file tax return for THESE taxpayers. Check details

Live Mint  

Taxpayers who are meant to get their accounts audited have only one week left to file their income tax return for AY 2024-25. The last date to file income tax return for these taxpayers is November 15. The income tax department recently issued a statement that says that it's the last week left for taxpayers whose accounts are audited or …

Extend ITR Filing Deadline To Aug 31; Tax Practitioners Urge Amid Portal Issue, Flood and Landslide
5 months, 2 weeks ago

Extend ITR Filing Deadline To Aug 31; Tax Practitioners Urge Amid Portal Issue, Flood and Landslide

News 18  

ITR Filing Last Date 2024: The All-India Federation of Tax Practitioners has requested the Central Board of Direct Taxes to extend the deadline of filing Income Tax returns by a month to August 31 for the assessment year 2024-25. In a memorandum, AIFTP national president Narayan Jain and Direct Tax Representation Committee chairman S M Surana said floods in several …

ITR E-filing portal glitches: Will Income Tax return deadline be extended beyond July 31?
5 months, 4 weeks 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 …

ITR Filing: Why It Is Necessary to File Income Tax Return AY 2024-25 Well Before the Deadline?
6 months, 1 week ago

ITR Filing: Why It Is Necessary to File Income Tax Return AY 2024-25 Well Before the Deadline?

News 18  

Filing your income tax return is not just a financial formality; it is a crucial responsibility for every taxpayer in India. As we approach the July 31, 2024, deadline to file the income tax return, it is essential to understand why filing your ITR well before the deadline can significantly benefit you. Conclusion “Filing your Income Tax Return well before …

ITR Filing for 2023-24: Key documents required for income tax returns
6 months, 4 weeks ago

ITR Filing for 2023-24: Key documents required for income tax returns

Hindustan Times  

As the income tax return filing season has set in, these are the key documents which taxpayers should possess for duly furnishing their tax returns, as said by Dr. Suresh Surana, Founder of RSM India to the Financial Express. Individual taxpayers who are not required to audit their financials, need to take note of the following documents that they may …

Income tax deadlines in April 2024: Know essential dates as per IT department
9 months, 1 week ago

Income tax deadlines in April 2024: Know essential dates as per IT department

Hindustan Times  

Income tax deadlines: India’s financial year system follows the April to March cycle- starting on April 1 and ending on March 31 the following year. Income tax deadlines: Here's a look at the tax calendar for April 2024 as per the income tax department. Here's a look at the tax calendar for April 2024 as per the income tax department: …

CBDT notifies new ITR forms for Assessment Year 2024-25. Which one is for you?
11 months, 1 week ago

CBDT notifies new ITR forms for Assessment Year 2024-25. Which one is for you?

Hindustan Times  

The Income Tax department has officially notified income tax return forms 2, 3, and 5 for the assessment year 2024-25. ‘Average processing time of ITR reduced in 10 years’: FM Sitharaman Union finance minister Nirmala Sitharaman, while presenting interim Union Budget, on Thursday lauded the ‘transformative shift in tax assessment methodologies over the past five years’. Budget 2024 Highlights: Rooftop …

How much average processing time of ITR reduced in 10 years? Sitharaman reveals
11 months, 1 week ago

How much average processing time of ITR reduced in 10 years? Sitharaman reveals

Hindustan Times  

Union finance minister Nirmala Sitharaman on Thursday underscored the government's steadfast commitment to enhancing taxpayer services as she highlighted a transformative shift in tax assessment methodologies over the past five years. Union Finance Minister Nirmala Sitharaman presents the Interim Budget 2024 in the Lok Sabha, at Parliament House in New Delhi, Thursday, Feb. 1, 2024. One of the standout achievements …

Budget 2024: Taxpayers can expect this announcement on February 1
11 months, 2 weeks ago

Budget 2024: Taxpayers can expect this announcement on February 1

India Today  

The Interim Budget 2024-25 will be presented by Finance Minister Nirmala Sitharaman on February 1 and experts indicate that major tax changes are unlikely. On interest on income tax refund, he said the AIS captures income tax refunds along with associated interest, there is room for improvement. However, in case the interest from income tax refund is not subject to …

Last day for filing Income Tax Returns for FY 2022-23 ends on December 31
1 year ago

Last day for filing Income Tax Returns for FY 2022-23 ends on December 31

Live Mint  

Income Tax Return Filing Last Date: As the deadline approaches on December 31 for filing Income Tax Returns for the financial year 2022-23, taxpayers are strongly encouraged to take swift action and submit their returns by today. Should you miss the December 31 deadline for belated Income Tax Returns, you have the option to submit updated ITRs. The Finance Act …

What Happens If I Miss Deadline to File Income Tax Returns?
1 year, 5 months ago

What Happens If I Miss Deadline to File Income Tax Returns?

Deccan Chronicle  

July 31, Monday, marks the final day for taxpayers to file their Income Tax Returns for the financial year 2022-23. The Income Tax Department has been closely monitoring the situation and informed that its helpdesk is functioning 24x7 to provide additional support to handle the anticipated influx of taxpayers seeking assistance in the eleventh hour. The Income Tax Department has …

ITR filing last date today: What to do if you miss the July 31 deadline?
1 year, 5 months ago

ITR filing last date today: What to do if you miss the July 31 deadline?

India TV News  

The deadline for filing income tax returns for the financial year 2022-23 for salaried individuals and those who do not have to get their accounts audited ends today According to the Income Tax Department on Sunday, over 6 crore tax returns have been filed for the previous year, and over 11 lakh returns have been filed upto 12 pm on …

Income Tax Day 2023: Nirmala Sitharaman to lead the celebration today
1 year, 5 months ago

Income Tax Day 2023: Nirmala Sitharaman to lead the celebration today

Live Mint  

On the occasion of 164th Income Tax Day celebrations, Finance Minister Nirmala Sitharaman will join the celebration at Plenary Hall, Vigyan Bhawan, New Delhi on Monday. @nsitharaman will preside over the 164th Income Tax Day celebrations in the presence of Union Minister of State for Finance Shri @mppchaudhary, tomorrow, 24th July 2023, from 18.00 Hours IST onwards at Plenary Hall, …

'File ITR at earliest as govt not contemplating extension of July 31 deadline'
1 year, 5 months ago

'File ITR at earliest as govt not contemplating extension of July 31 deadline'

Deccan Chronicle  

New Delhi: Revenue Secretary Sanjay Malhotra has asked income tax payers to file their return at the earliest as the finance ministry is not contemplating extension of the July 31 deadline. About 5.83 crore income tax returns were filed as on July 31 last year, the last day for filing returns for assessment year 2022-23. As per the Budget 2023-24, …

File ITR at earliest as govt not contemplating extension of July 31 deadline: Revenue secretary
1 year, 5 months ago

File ITR at earliest as govt not contemplating extension of July 31 deadline: Revenue secretary

India TV News  

As the finance ministry is not contemplating an extension of the July 31 deadline, Revenue Secretary Sanjay Malhotra has urged the income taxpayers to file their returns at the earliest. About 5.83 crore income tax returns were filed as on July 31 last year, the last day for filing returns for assessment year 2022-23. As per the Budget 2023-24, the …

ITR Filing: What is ITR-6, how to file online for AY 2023-24
1 year, 7 months ago

ITR Filing: What is ITR-6, how to file online for AY 2023-24

India Today  

An income tax return is basically a document that is filed as per the provisions of the Income Tax Act, reporting one’s income, profits and losses, and other deductions as well as details about a tax refund or tax liability. Companies, except those claiming exemption under section 11 due to their income from the property being held for charitable or …

Aadhaar-PAN Link, Advance Tax, TDS Challan: These 5 Dates In June You Can't Miss
1 year, 7 months ago

Aadhaar-PAN Link, Advance Tax, TDS Challan: These 5 Dates In June You Can't Miss

News 18  

Income Tax Dates June, 2023: Having knowledge of the important dates pertaining to taxation is essential for taxpayers in order to prevent penalties, effectively handle their finances, meet filing deadlines, and remain informed about any modifications in tax laws and regulations. Due Dates For June 2023 According to the tax calendar given on the official website of the Income Tax …

Advance tax, PAN-Aadhaar linking: Important dates to lookout for in March
1 year, 10 months ago

Advance tax, PAN-Aadhaar linking: Important dates to lookout for in March

Live Mint  

There are various financial deadlines that one needs to know before it ends on March 31, which ranges from PAN-Aadhaar linking, to payment of advance tax. Here's a list of things that one needs to look out for: PAN-Aadhaar linking The Income Tax Department has made it mandatory for PAN holders to link it with Aadhaar by the end of …

New ITR Forms For AY 2023-24: Know The Key Changes
1 year, 10 months ago

New ITR Forms For AY 2023-24: Know The Key Changes

Live Law  

On February 10, 2023, the Central Board of Direct Taxes announced the tax return forms for the financial year 2022–2023.This year, ITR forms were announced in advance, which is a very positive step toward making compliance easier. The disclosure and reporting requirements on tax return forms will be better understood by taxpayers.Here are the key changes:Separate section for. Here are …

CBDT Exempts NRIs Without PAN From E-filing Form 10F Upto March 2023
2 years ago

CBDT Exempts NRIs Without PAN From E-filing Form 10F Upto March 2023

Live Law  

The Central Board of Direct Taxes has exempted non-resident Indians without permanent account numbers from e-filing Form 10F up to March 2023.The notification No. The Central Board of Direct Taxes has exempted non-resident Indians without permanent account numbers from e-filing Form 10F up to March 2023. "On consideration of the practical challenge being faced by non-resident taxpayers not having PAN …

Income Tax Return filing deadline today, taxpayers face technical difficulties
2 years, 2 months ago

Income Tax Return filing deadline today, taxpayers face technical difficulties

Firstpost  

Today is the last date for businesses to file their income tax returns for the assessment year 2022-2023. For the group of companies with the assessment year of 2022–2023, the Finance Ministry extended the deadline for filing an income tax return last month. For those whose accounts must be audited, the deadline for filing income tax returns has also been …

ITR 2021-22: 41% income taxpayers yet to file returns, 10% facing tech glitches
2 years, 5 months ago

ITR 2021-22: 41% income taxpayers yet to file returns, 10% facing tech glitches

India TV News  

ITR 2021-22: As the deadline to file Income tax returns inches closer, 41 per cent of Indians who qualify to file the return are yet to file their papers for FY 2021-22, 22 per cent say it is difficult to file it by the July 31 deadline, and about 10 per cent were facing technical glitches, a new report showed …

ITR: Are you a salaried employee? You should use this form for income tax return
2 years, 5 months ago

ITR: Are you a salaried employee? You should use this form for income tax return

Hindustan Times  

Have you filed your income tax returns yet? The Narendra Modi has said it is not considering extending the last date for filing income tax returns, i.e July 31. The income tax department on Monday said more than three crore returns have been filed through the e-filing portal till date for the financial year 2021-22. In the last fiscal year, …

ITR Due Date AY22-23: Deadline Remains July 31; Govt Not Considering Extending It
2 years, 5 months ago

ITR Due Date AY22-23: Deadline Remains July 31; Govt Not Considering Extending It

News 18  

Revenue Secretary Tarun Bajaj on Friday said the government is not considering extending the July 31 deadline for filing the income tax return. So, for now, individuals who do not need to get their income accounts audited must file ITR for the assessment year 2022-23 by July 31. Over 2.3 crore income tax returns were filed till July 20 for …

No plan to extend deadline for filing income tax returns: Government
2 years, 5 months ago

No plan to extend deadline for filing income tax returns: Government

India TV News  

The government is not considering extending the last date for filing income tax returns as it expects most returns to come in by the due date of July 31, a top official said on Friday. Revenue Secretary Tarun Bajaj said over 2.3 crore income returns were filed by July 20 for fiscal 2021-22 and the numbers are picking up. The …

Income Tax Return filing | Last date, details on new forms & complete checklist
2 years, 6 months ago

Income Tax Return filing | Last date, details on new forms & complete checklist

Hindustan Times  

Income Tax return filing for Assessment Year 2022/23 is now available on the government's e-filing portal. As per Income Tax Act provisions, the last date to file ITR for AY 2022/23 is July 31, 2022. Representative image ITR filing for AY 2022/23 | What's new and how to file income tax returns: New forms: The income tax department has notified …

ITR Filing, PAN-Aadhaar Link, Others: 5 Tasks Taxpayers Should Complete by March 31
2 years, 9 months ago

ITR Filing, PAN-Aadhaar Link, Others: 5 Tasks Taxpayers Should Complete by March 31

News 18  

Income Tax Deadline: The ongoing financial year is on its way to end this week and this should remind salaried taxpayers to finish a slew of tax-related tasks before March 31, which is a crucial deadline for them. From filing belated income tax return to planning your taxes, March 31 is the last date to do it all to avoid …

Income Tax Planning: PAN-Aadhaar Linking, 4 Important Tasks Need to be Done by March 31
2 years, 9 months ago

Income Tax Planning: PAN-Aadhaar Linking, 4 Important Tasks Need to be Done by March 31

News 18  

With March coming to an end, a lot of money-related deadlines would end along with the current financial year FY2021-22. Besides these, from the last day of filing belated income tax returns to linking your PAN-Aadhaar, the month of March has some other crucial deadlines for your money matters as well. Belated ITR filing The deadline for belated ITR filing …

How to file income tax return: Step-by-step guide, documents needed
2 years, 9 months ago

How to file income tax return: Step-by-step guide, documents needed

Hindustan Times  

Here is everything you need to know about filing ITRs. Resident individuals, for example, with less than ₹50 lakh in annual income, no more than one house owned and minimal agricultural income must file ITR 1. Form 26AS - this is an annual statement that includes details of TDS Step-by-step guide to filing Income Tax Return Log on to the …

ITR last date: Taxpayers must file income tax returns by March 15
2 years, 9 months ago

ITR last date: Taxpayers must file income tax returns by March 15

India Today  

The income tax department has an important update for taxpayers. Pl visit: https://t.co/GYvO3n9wMf #ITR #FileNow pic.twitter.com/etNHD5mIvy — Income Tax India March 14, 2022 ITR FILING LAST DATE The last date for filing ITR for auditable cases for 2021-22 is March 15. "The extended due date to file ITR for this category for AY 2021-22 is 15th March, 2022," Income Tax …

5 Major financial things to be done before March 31, 2022
2 years, 10 months ago

5 Major financial things to be done before March 31, 2022

India Today  

The balance sheet and income statements of companies are prepared by organisations across the world in a period of one year. Here is the list of 5 major financial things that need to be done before March 31: 1. Advance Tax filing: According to the Income Tax Law of India, it is considered that people with a tax liability of …

Income Tax Planning to PAN-Aadhaar Linking: 5 Financial Deadlines to Remember in March
2 years, 10 months ago

Income Tax Planning to PAN-Aadhaar Linking: 5 Financial Deadlines to Remember in March

News 18  

As we enter the last month of the existing financial year 2021-22. Despite being aware of this deadline, most of the investors postpone their income tax planning to the last minute. Last Date for Filing Belated Returns The deadline for filing the income tax return for the Financial Year 2020-21 or Assessment Year 2021-21 ended on December 31, 2021. A …

ITR filing: Missed December 31 deadline? Here's what you can do
3 years ago

ITR filing: Missed December 31 deadline? Here's what you can do

Hindustan Times  

The last date to file the Income Tax Return for the financial year 2020-21 was December 31. Nearly 5.89 crore income tax returns for the 2020-21 fiscal were filed on the new e-filing portal till the December 31 deadline. The last date to file revised income tax returns for assessment year 2021-22 is March 31, 2022. Nearly 5.89 crore income …

No proposal to extend last date for ITR filing: Govt
3 years ago

No proposal to extend last date for ITR filing: Govt

India TV News  

Highlights Taxpayers must note that the official deadline for filing of income tax returns remains Dec 31, 2021 5.62 cr ITRs have been filed till December 31, according to the government data ITR verification deadline extended till February 28, 2022 for FY20 The Centre on Friday said that the last date for filing income tax return will not be extended. …

ITR filing: List of important documents required to file your income tax return
3 years ago

ITR filing: List of important documents required to file your income tax return

Hindustan Times  

The last date to file your income tax returns for the financial year 2020-21 is December 31 and if you fail to do so you will have to pay a penalty of up to ₹5,000. The deadline to file the tax returns has already been extended several times over the course of the past year due to technical glitches on …

Over three crore income tax returns for FY21-22 filed: Ministry of Finance
3 years, 1 month ago

Over three crore income tax returns for FY21-22 filed: Ministry of Finance

Firstpost  

An official document said, all taxpayers who are yet to file their income tax returns for the assessment year 2021-22 are requested to file their returns at the earliest to avoid the last-minute rush New Delhi: The finance ministry on Sunday said over three crore income tax returns have been filed for the financial year 2020-21 so far and advised …

ITR filing for financial year 2020-21
3 years, 2 months ago

ITR filing for financial year 2020-21

India Today  

The Income Tax Return is an annual ritual for the citizens of India and the other taxpayers of the country. The majority of taxpayers must have filed an Income Tax Return whereas a certain ratio of them is yet to file the returns. The deadline to file an income tax return for FY 2020-2021 is for three months to December …

ITR filing for FY 2020-21: Documents required to file your Income Tax Return
3 years, 3 months ago

ITR filing for FY 2020-21: Documents required to file your Income Tax Return

India Today  

The government has extended the deadline to file an income tax return for the assessment year 2021-22 to January 31, 2021. The procedure of filing an Income Tax Return varies as per the income earned per year and income source like salary, business profit, investment profit, and so on. Check here the details of the documents needed for filing Income …

Finance Ministry Extends Due Date For Filing Of Income Tax Returns (ITRs) For FY 2020-2021 To December 31
3 years, 4 months ago

Finance Ministry Extends Due Date For Filing Of Income Tax Returns (ITRs) For FY 2020-2021 To December 31

Live Law  

The Central Board of Direct Taxes today extended the due date of filing of income-tax returns and various reports of audit for the Assessment Year 2021-22 yet again and now, the new ITR filing deadline is December 31, 2021.Earlier, it was extended from July to September and now, the same has been extended to December 31, 2021.The same has been …

Income Tax Return Filing Deadline: CBDT Extends Due Date of Various ITR e-filing Forms
3 years, 4 months ago

Income Tax Return Filing Deadline: CBDT Extends Due Date of Various ITR e-filing Forms

News 18  

What comes as a big relief to taxpayers in India, the Finance Ministry had announced that it would be extending the deadlines for e-filings of various income tax returns forms that come under the ambit of the Income-Tax Act, 1961. 15CC to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30th June, 2021, …

Union Budget 2021: 10 Things That May Have An Effect on Your Personal Finances
3 years, 11 months ago

Union Budget 2021: 10 Things That May Have An Effect on Your Personal Finances

News 18  

The Union Budget 2021, presented by Finance Minister Nirmala Sitharaman, did not make a change to tax slabs in Income Tax Returns. Pre-filled tax forms To make filing your income tax easier, Sitharaman said that apart from tax deduction at source, now details of capital gains and interests from banks and post offices would be pre-filled. In order to spur …

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