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2 weeks, 6 days ago

December tax deadlines: Your essential guide for ITR compliance

As the year comes to a close, December becomes a vital month for taxpayers to fulfil important financial and compliance duties. Staying on top of the crucial deadlines in December 2024 is key to ensuring smooth compliance and taking full advantage of available tax benefits. DECEMBER 7, 2024 The last date to deposit tax deducted or collected for the month …

Tax 2024 Month

1 month ago

Income Tax Return Is Different From Average Annual Financial Turnover Document: Gauhati High Court Explains

Live Law

The Gauhati High Court has held that the words “Turnover” and “Income Tax Return” are different and exemption to a bidder from submitting the former in a tender process would not exempt it from furnishing the ITR, for the prescribed years. An Income Tax Return serves to comply with tax obligations and inform the government about the taxpayer's financial status, …

Financial Court Income Tax Annual Msme Itr Return

1 month ago

Tax regime shift: Is filing ITR under old regime still valid after default new regime?

Live Mint

I’m working with the Indian Army. Until last year, we received Form 16 under the old tax regime, which included all allowances such as house rent allowance, travel, uniform, etc. However, from AY 2024-25, we are receiving Form 16 under the default new tax regime, which does not mention non-taxable allowances. I have filed my ITR under the old tax …

Tax Ntr Regime Itr Return Deductions Default

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 …

India Tax Income Tax Income File Itr Your Itr

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, 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 …

Tax Income Department Filing File Itr Tax Department

5 months ago

ITR 2024: Avoid THESE mistakes when filing Income Tax return, otherwise your form may get cancelled

India TV News

ITR filing 2024: The deadline for filing income tax returns is approaching, with the last date to file without late fees for the financial year 2023-24 being July 31, 2024. Avoid THESE mistakes Incomplete or incorrect information: When filing your income tax return, ensure that all information is complete and correct. Discrepancies in income information: Discrepancies in income information can …

Tax Income Filing Return 2024 Avoid Your Return Income Tax Return

6 months ago

Income Tax Return (ITR) 2023-24: 6 Essential points and 6 tips for error-free filing

Hindustan Times

One should always pay attention to every minute detail while e-filing ITR for a hassle-free experience, especially with the tax regimes, deductions and benefits changing every year, Business Today wrote. Representational “Filing an income tax return is not a cakewalk for everyone," said Vikas Dahiya, Director of All India ITR, according to Business Today. "For many people not familiar with …

Tax Income Filing Itr Return Income Tax Return Business Today

6 months, 1 week ago

ITR Filing: Income tax slab rates and deductions for old and new tax regimes

Hindustan Times

With the Income Tax filing deadline coming up on July 31, 2024, one should be aware that there are two types of tax regimes: The old tax regime and new tax regime with different slab rates. Representational The Government implemented the new tax regime as an optional alternative to the old tax system from the financial year 2020-21. New tax …

Tax Income Old Regime Itr 15 Lakh

6 months, 3 weeks ago

ITR 2024: Mandatory and Optional, Keep These Documents For Income Tax Return Filing, Check Full List

News 18

Income Tax Return filing is a critical responsibility for taxpayers and carries several significant implications. Investment Proofs: Documents for investments like Provident Fund, Public Provident Fund, Equity Linked Savings Scheme, Life Insurance premiums, Health Insurance premiums, Fixed Deposits etc., if claiming deductions. Other Potential Documents: Property Documents House Rent Receipts Informational Documents: Form 26AS : This pre-filled statement by the …

Documents Income Filing Itr Itr Filing Tds Tax

7 months, 2 weeks ago

ITR Filing AY 2024-25: Boost Your Tax Refund By Claiming THESE 5 Lesser-Known Deductions

News 18

Tax Deductions You Can Claim To Save On Your Taxes? Here are a few deductions that may not be popular, but could offer potential tax savings: National Pension Scheme: Contribution to NPS Tier 1 account is eligible for an additional deduction of Rs 50,000 under section 80CCD. Medical expenditure incurred for senior citizen parents: While many taxpayers are familiar with …

Tax Income Itr Claim Paid Rent Deductions

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 …

Tax Court Income Accused File Itr Return

1 year, 4 months ago

Do taxpayers lose out on deduction benefits on filing late income tax returns? We explain

Live Mint

The cutoff for submitting the Income Tax Return for the fiscal year 2022-23 was July 31, 2023. While numerous taxpayers are considering submitting a late return with a penalty, a significant number are apprehensive about the possibility of their tax refund request being declined in the event of a delayed ITR submission. Submitting a delayed ITR incurs a late fee, …

Income Tax Pan Late Income Tax Return Return Itr Belated Submitting

1 year, 5 months ago

ITR: Here Are Some Common Documents You May Require For Filing

ABP News

The last date for filing income tax returns for the financial year 2022-23 is July 31. For salaried individuals, here are some common documents to keep in handy while ITR filing: PAN Card PAN Card issued by the income tax department is one of the more important documents required for ITR filing. When taxpayers choose the 'prefill' option, the relevant …

Tax Income Tax Documents Income Tan Form Filing

1 year, 7 months ago

Income Tax Due Dates in May 2023: Check deadlines for this month's ITR filing

Firstpost

With the new changes in the Income Tax Act coming into effect from April 2023, it is time when people need to start worrying about tax deadlines that are due in May 2023 as the month is about to commence. Speaking of which, the Income Tax Department on its official website has issued a tax calendar that states the important …

Tax Statement Month Date 2023 Form Tds

1 year, 7 months ago

Old vs New Income Tax regime: Which one to choose for TDS on salary in FY 2023-24?

Firstpost

At a time when changes introduced in the Income Tax Act 1961 have already come into effect from 1 April 2023, salaried taxpayers might have confusion over selecting between the old and new tax regimes, especially for those who are in the higher income brackets. Employees need to keep in mind that if they do not inform their respective companies …

Salary Income Tax Regime Itr Tds Tax Exemptions Regimes

1 year, 8 months ago

Income Tax Return Filing Online: Easy Steps To File ITR 1 Sahaj, Check Details Here

News 18

An income tax return is a document that you file with the Indian tax department to report your income, deductions, and taxes paid for a particular financial year. The finance ministry has allowed individuals against whom search and seizure operations were carried out by the IT authorities to file revised income tax return in ITR-1 form for assessment year 2023-24. …

Tax Income Form Filing Return Select Click

2 years, 4 months ago

ITR: Have a Savings Account? You Can Claim up to Rs 10,000 Tax Deduction; Section 80TTA Explained

News 18

The last date of filing income tax return for the assessment year 2022-23 or the financial year 2021-22 is July 31, 2022. Let’s take a look at how it works Section 80TTA Deduction Explained Section 80TTA of the Income Tax Act, 1961, allows taxpayers to claim a deduction for the interest earned from savings account. It must be noted that …

India Savings Tax Income Interest Account Itr

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 …

Pti Old Lakh Regime Bajaj Tax Returns File Itr

2 years, 5 months ago

How to e-verify income tax return through Demat account

India Today

The last date to file Income Tax Return for FY 2021-22 is July 31, 2022. The last step in filing your income tax return is to verify it. Check here the step-by-step guide to e-verify income tax returns through Aadhaar OTP. HERE IS HOW TO e- verify YOUR RETURN THROUGH DEMAT ACCOUNT: Step 1: Go to the e-Filing portal homepage …

Tax Income Return Verify Income Tax Return Demat Account

2 years, 5 months ago

For taxpayers with two Form 16s, steps to file their ITRs

Hindustan Times

The deadline to file Income Tax returns for the ongoing assessment year 2022-23 is July 31. People with two Form 16s should know they, too, can file their returns and claim all their benefits. Now, from your total salary for the entire financial year, subtract leave travel allowance, house rent allowance, standard deduction, and deductions under Sections 80C, 80G, 80D …

Tax Income Form Itr

3 years, 4 months ago

Income tax filing for AY2021-22: Things you should remember to do

Live Mint

While filing ITR there are too many things that one needs to get in order - investment proofs, Form 16, TDS certificates etc. Here is the list of things a taxpayer should be mindful of while filing ITR: Choosing the right assessment year Taxpayers often get confused about the assessment year relevant to a financial year and as a result …

Tax Income Gupta Regime Filing Itr Details

3 years, 5 months ago

ITR filing: All about claiming tax deduction for Covid-related expenses

India Today

Keeping in view the financial losses and expenses suffered by people during the Covid-19 pandemic, the Central Board of Direct Taxes had recently made some provisions to help citizens claim tax deductions while filing the Income Tax Return against coronavirus-related medical treatment expenses. CBDT's statement on financial help The Central Board of Direct Taxes said in a statement, “Unfortunately, certain …

Tax Direct Taxes Covid Pan Itr Tax Deduction Cbdt

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Articles for Itr, search results for deductions

December tax deadlines: Your essential guide for ITR compliance

Income Tax Return Is Different From Average Annual Financial Turnover Document: Gauhati High Court Explains

Tax regime shift: Is filing ITR under old regime still valid after default new regime?

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

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

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

ITR 2024: Avoid THESE mistakes when filing Income Tax return, otherwise your form may get cancelled

Income Tax Return (ITR) 2023-24: 6 Essential points and 6 tips for error-free filing

ITR Filing: Income tax slab rates and deductions for old and new tax regimes

ITR 2024: Mandatory and Optional, Keep These Documents For Income Tax Return Filing, Check Full List

ITR Filing AY 2024-25: Boost Your Tax Refund By Claiming THESE 5 Lesser-Known Deductions

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

Do taxpayers lose out on deduction benefits on filing late income tax returns? We explain

ITR: Here Are Some Common Documents You May Require For Filing

Income Tax Due Dates in May 2023: Check deadlines for this month's ITR filing

Old vs New Income Tax regime: Which one to choose for TDS on salary in FY 2023-24?

Income Tax Return Filing Online: Easy Steps To File ITR 1 Sahaj, Check Details Here

ITR: Have a Savings Account? You Can Claim up to Rs 10,000 Tax Deduction; Section 80TTA Explained

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

How to e-verify income tax return through Demat account

For taxpayers with two Form 16s, steps to file their ITRs

Income tax filing for AY2021-22: Things you should remember to do

ITR filing: All about claiming tax deduction for Covid-related expenses