Refund can be claimed only if you file ITR
4 years ago

Refund can be claimed only if you file ITR

Live Mint  

My daughter was abroad in FY19 and FY20. Does she need to file income tax return in India for assessment year 2019-20 and AY21? A person, who is resident in India for income tax purposes, must report her entire global income in the tax return for India. If the gross total income of your daughter in any year exceeds ₹2.5 lakh and she is resident in India, she must file ITR. In case your daughter is a resident in India and has paid taxes abroad, tax relief may be available even though no DTAA agreement exists with the other country.

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History of this topic

Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official
4 weeks, 1 day ago

Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official

Deccan Chronicle  

New Delhi: As many as two lakh Income Tax Returns containing details of foreign assets and income have been filed during the current assessment year till now, according to the tax department which urged Indian residents for tax purposes to ensure they file the right form and revise their returns if they submitted the wrong form. The shares obtained and …

Do I have to file an Income Tax Return (ITR) in India after returning from UK for work?
1 month, 1 week ago

Do I have to file an Income Tax Return (ITR) in India after returning from UK for work?

Live Mint  

I have lived in the UK for the past 15 years. Do I have to file my Income Tax Return in India next year? Since your stay in India for the financial year 24-25 will be for less than 182 days, prima facie, you would be a non-resident for income tax, assuming you were not in India before 15th October …

ITR filing: 'Over 5 crore returns filed so far this fiscal year', says Income Tax Department
4 months, 3 weeks ago

ITR filing: 'Over 5 crore returns filed so far this fiscal year', says Income Tax Department

India TV News  

The Income Tax Department on Saturday revealed that more than 5 crore Income Tax Returns have been filed on the e-filing portal so far this fiscal year. In a post on social media platform X, the IT Department said, "More than 5 crore ITRs for AY 2024-25 have already been received on the e-filing portal of the Income Tax Department …

ITR Return Filing: Should you file ITR if your income is less than ₹7 lakh?
6 months ago

ITR Return Filing: Should you file ITR if your income is less than ₹7 lakh?

Hindustan Times  

If your gross taxable income exceeds basic exemption limit, it is mandatory for you to file an income tax return. But this does not mean you have to pay income tax as there is a tax rebate under section 87A of the Income tax Act, 1961 owing to which you are eligible if your net taxable income does not exceed …

Delhi woman gets 6 months jail for failing to file ITR on ₹2 crore income
9 months, 1 week ago

Delhi woman gets 6 months jail for failing to file ITR on ₹2 crore income

Hindustan Times  

A Delhi Court sentenced a woman to six months in jail for not filing a return on income of ₹2 crores after a complaint was filed by the Income Tax Office alleging that TDS amounting to Rs. The court sentenced Savitri noting, “The convict is awarded a sentence of simple imprisonment for six months with a fine of ₹5,000 and …

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

Income tax return: Missing ITR filing last date may land you in jail
2 years, 4 months ago

Income tax return: Missing ITR filing last date may land you in jail

Live Mint  

ITR filing for AY 2022-23: The due date for income tax return filing for the financial year 2021-22 or for the assessment year 2022-23 is fast approaching as ITR filing due date is 31st July 2022. However, in case a taxpayer misses to file is ITR by given last date of 31st December 2022, then in that case the income …

ITR: Are you a salaried employee? You should use this form for income tax return
2 years, 4 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, …

Income tax return: Eligibility, important documents for filing ITR-1 form
2 years, 5 months ago

Income tax return: Eligibility, important documents for filing ITR-1 form

Live Mint  

Income tax return: The due date for income tax return filing for FY 2021-22 and the Assessment Year or AY 2022-23 is 31st July 2022. As, majority of the earning individuals file ITR-1 form, it is very important for the taxpayer to know the important documents that one must have in hand during its ITR filing. On who can file …

ITR filing for FY 2021-22: Documents required to file your Income Tax Return
2 years, 5 months ago

ITR filing for FY 2021-22: Documents required to file your Income Tax Return

India Today  

The last date to file Income Tax Return for FY 2021-22 is July 31, 2022. 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. Generally, the required documents are Copy of PAN card, Copy of AADHAR card, Bank Statement / Bank …

ITR filing last date: No refund, higher TDS likely if income taxpayers don't file returns
2 years, 8 months ago

ITR filing last date: No refund, higher TDS likely if income taxpayers don't file returns

India Today  

The income tax return filing last date is March 31, 2022 and non-filers may not get any income tax refund, if due. Apart from this, taxpayers who won't file ITR, may be required to pay higher Tax Deducted at Source. #FileNow Pl visit: https://t.co/GYvO3n9wMf#ITR pic.twitter.com/cfXpKPEgp8 — Income Tax India March 25, 2022 Those who won't file ITR by March 31, …

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 …

ITR filing: Missed December 31 deadline? Here's what you can do
2 years, 11 months 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 …

ITR filing for financial year 2020-21
3 years, 1 month 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 …

More than two crore ITRs filed on new income tax portal; CBDT urges taxpayers to file returns at earliest
3 years, 2 months ago

More than two crore ITRs filed on new income tax portal; CBDT urges taxpayers to file returns at earliest

Firstpost  

Asking taxpayers to file their income tax returns for fiscal 2020-21 at the earliest, the Central Board of Direct Taxes said all ITRs have been made available for e-filing. New Delhi: The income tax department on Thursday said more than two crore ITRs for the financial year 2020-21 have been filed so far and the performance of the new I-T …

ITR filing for FY 2020-21: Documents required to file your Income Tax Return
3 years, 2 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 …

Over 4.84 crore Income Tax Returns for 2019-20 Filed Till Dec 31, Says IT Dept
3 years, 11 months ago

Over 4.84 crore Income Tax Returns for 2019-20 Filed Till Dec 31, Says IT Dept

News 18  

Over 4.84 crore income tax returns for fiscal year 2019-20 have been filed till December 31, 2020, the Income Tax Department said on Friday. ”Over 4.84 crore Income Tax Returns for AY 2020-21 have already been filed till 31st of December, 2020,” the Income Tax Department tweeted. Over 2.65 crore ITR-1 have been filed till December 31, 2020, lower than …

ITR 2019-20: Govt extends deadline till 10 Jan; individuals, firms requiring audit can file income tax return by 15 Feb
3 years, 11 months ago

ITR 2019-20: Govt extends deadline till 10 Jan; individuals, firms requiring audit can file income tax return by 15 Feb

Firstpost  

The govt has also extended the due date for filing declaration under the direct tax dispute resolution scheme Vivad Se Vishwas by a month till 31 January while the deadline for filing GST annual return for FY2019-20 has been extended by two months till 28 February, 2021 The government on Wednesday extended the deadline to file income tax returns for …

ITR FY 2019-20: These People Should File Income Tax Return Before January 10, 2021
3 years, 11 months ago

ITR FY 2019-20: These People Should File Income Tax Return Before January 10, 2021

News 18  

Some people think that they do not need to file an income tax return, if they don’t fall in the tax bracket. As the deadline for filing ITR is approaching closer, here are criteria which require you to do so: · Those who have spent Rs 2 lakh or more on foreign travel of self or any other person in …

ITR filing 2019-20: Here are steps to file returns by 31 December and avoid paying penalty
3 years, 11 months ago

ITR filing 2019-20: Here are steps to file returns by 31 December and avoid paying penalty

Firstpost  

There is a penalty fee that needs to be given if a person misses their ITR filing date. As the last date to file Income Tax Returns inches closer, the number of ITRs filed each day is rising steadily. The Income Tax department tweeted on Wednesday, 30 December that more than 4.54 crore Income Tax Returns for AY 2020-21 have …

Income Tax Returns: Over 4.15 crore ITRs for fiscal 2019-20 filed till Dec 26
3 years, 11 months ago

Income Tax Returns: Over 4.15 crore ITRs for fiscal 2019-20 filed till Dec 26

India TV News  

Over 4.15 crore taxpayers have already filed their income tax returns for assessment year 2020-21 till December 26, the Income Tax Department said on Sunday. As the deadline to file ITR by individuals nears, the tax department also urged people to file their ITR for assessment year 2020-21 early to avoid last minute rush. "More than 4.15 crore Income Tax …

ITR 2019-20 filing last date till 31 December: Here's the list of documents and steps to file income tax returns online
4 years ago

ITR 2019-20 filing last date till 31 December: Here's the list of documents and steps to file income tax returns online

Firstpost  

With the ITR filing last date approaching closer, taxpayers, who are yet to file returns, should do it as early as possible to avoid any last-minute rush or error. The last date to file income tax return for the financial year 2019-2020 is 31 December 2020. As per a report by The Indian Express, to file income tax correctly, Form …

ITR Form 5: What is ITR-5, how to file online for AY 2020-21
4 years, 1 month ago

ITR Form 5: What is ITR-5, how to file online for AY 2020-21

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. ITR 5 is an income tax return form that is to be filed by a specific section of taxpayers, as …

Income Tax Return for AY 2020-21: Which ITR form is applicable to you
4 years, 2 months ago

Income Tax Return for AY 2020-21: Which ITR form is applicable to you

Live Mint  

There are four Income Tax Return forms applicable to an individual. "Selection of appropriate ITR form is important as wrong selection would result in a receipt of defective notice from the Income Tax Department which needs to be rectified within a specified period of time," says Kapil Rana, founder and Chairman, HostBooks. An individual having income from salaries, more than …

Confused About Whether to File Income Tax Returns or Not? Here are All Your Questions Answered
4 years, 2 months ago

Confused About Whether to File Income Tax Returns or Not? Here are All Your Questions Answered

News 18  

Various people are confused about filing income tax returns. Gross total income above basic exemption limit If a person’s total income is more than the basic exemption limit before availing of various deduction options for investments and expenses, then he has to file ITR. Exemption Limit Those who are below the age of 60 come under the exemption limit of …

Who is required to file an income tax return?
4 years, 2 months ago

Who is required to file an income tax return?

Live Mint  

By Balwant Jain Many salaried as well as retired individuals are under the impression that as tax has been deducted from their income; they do not have to file their ITR. Income criteria for Liability to file ITR As per the income tax laws, you have to file your ITR if the aggregate of all your income: called gross total …

Income Tax Return for AY 2020-21: Who cannot file ITR1?
4 years, 2 months ago

Income Tax Return for AY 2020-21: Who cannot file ITR1?

Live Mint  

The Income Tax department of India specifies a few conditions where an individual cannot use ITR1 to file his or her income tax. Income for this purpose includes income from salary or pension, income from one house property and income other sources such as interest from bank account. An individual who fulfills any of the below mentioned conditions, cannot file …

ITR Forms: Eligibility criteria, which tax return to file
4 years, 2 months ago

ITR Forms: Eligibility criteria, which tax return to file

India Today  

In India, the system of direct taxation, as it is known today, has been in force in one form or another even from ancient times. Income Tax Return is a form in which the taxpayers file information about his income earned and tax applicable to the income tax department. All individuals having taxable income or those who satisfy other prescribed …

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