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15 hours, 8 minutes ago

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

Missed filing tax returns in July? File your belated ITR for FY24 by December 31

India Today

If you missed the deadline to file your Income Tax Return for the financial year 2023-24 in July, you still have an opportunity to make amends. The Income Tax Department allows taxpayers to file a belated ITR by December 31, 2024. CONSEQUENCES OF LATE FILING Late filing fee As per Section 234F of the Income Tax Act, individuals filing their …

Tax Income Interest File Itr Ensure Your Income

5 days, 23 hours ago

Own foreign assets or income? Disclose now to avoid Rs 10 lakh penalty

India Today

Failing to disclose foreign income and assets can land taxpayers in double trouble under both the Income Tax Act and the Black Money Act. STEPS FOR FILING AND DEADLINES Taxpayers must declare foreign income and assets in the applicable ITR for the assessment year they were a resident in India. Disclosing foreign income and assets not only ensures compliance with …

Tax Assets Income Foreign Act Itr Disclose

6 days, 3 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

6 days, 23 hours ago

Income Tax Department admits error of sending wrong ITR notices. Check details

India Today

In an unexpected move, the Income Tax Department has acknowledged its error in sending defective ITR notices to taxpayers who had correctly filed their returns. On November 29, 2024, the tax department issued notices citing defective ITRs under Section 44AD, claiming discrepancies in turnover limits and missing financial documents. However, on December 5, 2024, the department clarified the mistake, stating, …

Tax Notices Itr Rs 2 Crore Section 44Ad Revised Itrs

6 days, 23 hours 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, 1 day ago

ITR advance tax deadline today: Who all should pay these taxes? All you need to know

Live Mint

As the third installment of advance tax is due on December 15, taxpayers are reminded of the importance of adhering to this deadline to stay compliant and avoid penalties. Advance tax, often referred to as the "pay-as-you-earn" tax, is a requirement for individuals and businesses whose tax liability for the financial year exceeds ₹10,000. Salaried individuals are also required to …

Income Liability Advance Tax Deadline 15 Taxpayers

2 weeks ago

How to check your TDS refund status: A simple guide

India TV News

Tax Deducted at Source is the tax deducted by the payer before they make certain payments. If you have paid excess tax deducted at source or noticed that you’re owed a refund from the Income Tax Department, you might be wondering how to check the status of your TDS refund. Here are some common cases where TDS refunds apply: Salaried …

Tax Bank Income Process Status Department Check

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 …

Indian Assets Income Tax Report Department Foreign Officer

Income tax department advises taxpayers to carefully review their foreign income, assets in ITR

Live Mint

New Delhi, November 24 : The Central Board of Direct Taxes has advised all taxpayers to carefully review their foreign income and assets and report them accurately in their Income Tax Returns. Income Tax department in its special edition of 'Samvad' raised awareness on proper disclosure of foreign assets and income by taxpayers. The session aimed to raise awareness among …

Tax Indian Assets Report Itr Taxpayer Shukla

1 month ago

ITR Filing: Income tax department shortens time limit for condonation of delay – What it means for taxpayers

Live Mint

The Income Tax Department has recently made important changes in its refund claim procedures which have led to the reduction of the period when taxpayers could claim old income tax refunds. The onus has shifted now to the taxpayers to keep all the required documents amidst the transactions in future and submit them before the tax authorities at the prescribed …

Income Claims Delay Five Years Submit Filing Itr

1 month ago

The taxman knows about your foreign assets and is giving you a chance to revise ITR

Live Mint

The Income Tax department is taking a lenient approach this year to address the non-disclosure of foreign assets in income tax returns filed in the current assessment year. “This looks like a new initiative from the tax department, wherein instead of directly sending summons of investigation under section 131 of the Income Tax Act, it is giving taxpayers a chance …

Investigation Tax Assets Income Department Foreign Act

1 month ago

Missed reporting foreign assets in ITR? File revised return to avoid Rs 10 lakh penalty | DETAILS

India TV News

Taxpayers who have failed to declare foreign assets or income in their Income Tax Return for AY 2024-25 can file a revised return by December 31, 2024, to avoid a penalty of up to Rs 10 lakh. Revised return deadline announced The Tax Department has advised taxpayers that if the original ITR missed foreign assets or income, then file an …

Tax Assets Income Itr Return Rs 10 Lakh Foreign Assets

1 month ago

Income tax department warns: ‘Declare foreign assets or pay ₹10 lakh penalty’

Live Mint

The Income-Tax department has today launched a new campaign warning taxpayers of ₹10 lakh penalty if they fail to disclose foreign held assets or income earned from abroad in their ITR, according to a PTI report. According to the I-T department advisory, for Indian residents a foreign asset would include bank accounts, cash value insurance contract or annuity contract, financial …

Tax Assets Income Foreign Itr Asset Foreign Asset

1 month ago

Failure to disclose foreign assets, income to invite ₹10 lakh penalty: I-T dept

The Hindu

The Income-Tax Department on Sunday cautioned taxpayers that failure to disclose assets held abroad or income earned in foreign shores in the ITR can attract a penalty of ₹10 lakh under the anti-black money law. The advisory specified that foreign asset, for a tax resident of India in the previous year, includes bank accounts, cash value insurance contracts or annuity …

Tax Assets Income Foreign Itr Asset Foreign Asset

1 month, 1 week ago

ITR deadline: Has income tax return deadline for audit cases been extended?

Hindustan Times

The Income Tax Department has not extended the November 15, 2024 deadline for filing income tax returns by taxpayers subject to audit and also for other designated ones, The Economic Times reported. The Income Tax Department has not extended the November 15, 2024 deadline for filing income tax returns by taxpayers subject to audit and also for other designated ones …

Audit Filing Itr Deadline Income Taxpayers

1 month, 1 week ago

Top events today: PM Modi’s Odisha, Bihar visit, Dev Deepavali in Kashi, ITR filing deadline and more

Live Mint

Top events today: Today, i.e on November 15, several events are set to take place. In addition to this, PM Modi is also expected to visit Odisha to mark the birth anniversary of tribal leader Birsa Munda and will also be visiting Bihar's Jamui. PM Modi to inaugurate first Bodoland Mahotsov in Delhi on November 15 Prime Minister Narendra Modi …

Bihar Today Modi Pm Modi Narendra Modi Kashi Top Events

1 month, 2 weeks ago

From pension account to Income Tax, crucial deadlines in November | Check details

India TV News

Keeping a check on deadlines is one of the most crucial work, especially when dealing with those bearing financial importance. November 14 Due dates for issue of TDS certificate: Form 16B for tax withheld under 194-IA in September 2024. November 15 The Income Tax Department extended the deadline for filing ITR for the fiscal year 2023-2024 from October 21, 2024 …

Tax 2024 Itr Crucial Deadline

3 months, 3 weeks ago

ITR refund pending? Tax dept legally has time until 2025 to process it

Business Standard

The Income Tax Department is processing millions of returns – a task that can take until the end of 2025 to complete for some taxpayers. If the refund is delayed beyond these periods, the taxpayer is entitled to receive interest on the refund amount as per Section 244A of the Income Tax Act,” he said. Interest on Income Tax refund …

Tax Income Interest Process Status Itr Return

4 months, 1 week ago

Taxpayers alert! ITR processing time reduced to 10 days from 93 days

Hindustan Times

Finance minister Nirmala Sitharaman said that the average time taken to process income tax returns has decreased from 93 days in 2013 to 10 days. Finance minister said that the 'average' processing time has been reduced to 10 days. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} No, not all ITRs are going to be processed in 10 days as the Finance minister said …

Tax Tax Refunds Processing 10 Days Itr Process

4 months, 2 weeks ago

What should you do if you get an income tax notice after ITR filing? Know here

India TV News

ITR 2024: The deadline for filing Income Tax Returns ended on July 31, with around 7.28 crore people in the country submitting their returns. Here’s what to do if you receive a notice from the Income Tax Department: What should you do after receiving income tax notice? Verify all the details in the notice from the Income Tax Department, such …

Income Department Filing Itr Tax Department Income Tax Notice Tax Notices

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

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 …

Tax Itr Filing Deadline Landslide Itr Deadline Unlikely Landslide Itr Filing Itr Filing

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

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

Missed filing tax returns in July? File your belated ITR for FY24 by December 31

Own foreign assets or income? Disclose now to avoid Rs 10 lakh penalty

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

Income Tax Department admits error of sending wrong ITR notices. Check details

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

ITR advance tax deadline today: Who all should pay these taxes? All you need to know

How to check your TDS refund status: A simple guide

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

Income tax department advises taxpayers to carefully review their foreign income, assets in ITR

ITR Filing: Income tax department shortens time limit for condonation of delay – What it means for taxpayers

The taxman knows about your foreign assets and is giving you a chance to revise ITR

Missed reporting foreign assets in ITR? File revised return to avoid Rs 10 lakh penalty | DETAILS

Income tax department warns: ‘Declare foreign assets or pay ₹10 lakh penalty’

Failure to disclose foreign assets, income to invite ₹10 lakh penalty: I-T dept

ITR deadline: Has income tax return deadline for audit cases been extended?

Top events today: PM Modi’s Odisha, Bihar visit, Dev Deepavali in Kashi, ITR filing deadline and more

From pension account to Income Tax, crucial deadlines in November | Check details

ITR refund pending? Tax dept legally has time until 2025 to process it

Taxpayers alert! ITR processing time reduced to 10 days from 93 days

What should you do if you get an income tax notice after ITR filing? Know here

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

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

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