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6 days, 16 hours ago

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

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

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 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, 1 week 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, 1 week 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

Taxpayers Alert: CBDT’s new campaign helps you accurately report foreign assets and income for AY 2024-25

Live Mint

The Central Board of Direct Taxes has started a Compliance-Cum-Awareness Campaign for Assessment Year 2024-25 to assist taxpayers in correctly completing the Schedule overseas assets and appropriately reporting income from overseas sources in their income tax returns. The purpose is to remind and guide those who may not have fully completed Schedule Foreign Assets in their submitted ITR for AY …

Tax Assets Income Foreign Itr Cbdt Taxpayers

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, 1 week 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 …

Tax Documents Income Pan Return Details Taxpayer

9 months, 1 week ago

Income mismatch in ITR: How you can fix it, details here

Hindustan Times

The Income Tax Department identified mismatches between information furnished by third-party entities and income tax return filed by the taxpayers. In order to help taxpayers reduce mismatch, an on-screen online functionality has been made available on the income tax portal has been given- ‘Compliance portal’. 2021-22 have not been filed and, the Department is in possession of information of specified …

Tax Income Department Mismatch Itr Portal

9 months, 2 weeks ago

Information From ITR/26AS Can't Be Sole Basis For Service Tax Demands: CESTAT

Live Law

The Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal has held that the service tax demand was made on the basis of third-party data, i.e., amounts reflected in income tax returns and in Form 26AS, which is not sustainable. The bench of P. Anjani Kumar has observed that the exigibility of service tax depends on the service provider, …

Service Demand Itr Stat Basis Tax Returns Income Tax Returns

9 months, 3 weeks ago

IT department identifies ITR-related ‘mismatches’, announces this step for taxpayers

Hindustan Times

The Income Tax department has released an on-screen functionality on its e-filing portal for taxpayer's response, after identifying what it said were ‘mismatches’ between income tax returns filed by taxpayers and the information received from third parties on interest and dividend income. "The taxpayers are also being made aware of the mismatch through SMS and emails as per details available," …

Tax Department Itr Taxpayers Mismatch It Department

1 year, 3 months ago

Common errors that could lead to flawed ITRs. How to avoid them?

Live Mint

A flawed Income Tax Return is one that falls short of meeting the stipulations outlined in the Income Tax Act of 1961. Section 139 of the Income Tax Act, 1961, grants authority to the Assessing Officer to issue a notice to a taxpayer in the event their income tax return is deemed defective. When the Income Tax Department identifies an …

Tax Income Notice Department Form Pan Return

1 year, 3 months ago

CBDT processed 88 per cent ITR, refunds over Rs 2.45 crore issued till September 5

Firstpost

“More than 6 crore ITRs of AY 2023-24 have been processed out of the verified ITRs as on September 5, resulting in processing of over 88% of the verified ITRs” CBDT said in a statement. The Income Tax Department has processed refunds of over Rs 2.45 crore for 6.84 crore verified Income tax returns, bringing down the average processing time …

Cbdt Taxpayers Itrs Itr Refunds

1 year, 5 months ago

Income Tax Day 2023: How to use the “AIS for Taxpayers” app while filing your ITR?

Live Mint

The Income Tax Department introduced a mobile application called “AIS for Taxpayers” in March this year. The app was designed to provide taxpayers with easy access to their information as presented in the Annual Information Statement /Taxpayer Information Summary. Benefits of using the “AIS for Taxpayers” app Instead of constantly shuffling between tabs to view AIS details, taxpayers can use …

Tax Information Mobile Income App Details Taxpayers

1 year, 5 months ago

Income Tax Day: Have You Checked AIS App Before ITR Filing? Here's How It May Help You

News 18

Income Tax Day: In- March this year, the Income Tax Department launched a mobile app, namely, ‘AIS for Taxpayer’ to facilitate taxpayers to view their information as available in the Annual Information Statement / Taxpayer Information Summary. The objectives of AIS are: Displays complete information to the taxpayer with a facility to capture online feedback Promotes voluntary compliance and enable …

Tax Information Mobile App Income Value Taxpayer Taxpayers

1 year, 5 months ago

ITR filing: What to do when TDS details are not matching in Form 16, 26AS, and AIS?

Live Mint

The deadline for filing the Income Tax Return is fast approaching, thus, explaining the vulnerability to making mistakes while rushing through important details about income and its various sources. In case of discrepancies between the TDS and other information found in Form 16, Form 26AS, and the AIS, it is advisable to look at the following necessary steps: Cross-check the …

Tax Income Tan Form Filing Pan Itr

1 year, 5 months ago

ITR filing: What is AIS and how to access it? MintGenie explains

Live Mint

The Income Tax Department provides a comprehensive yearly tax statement known as Form 26AS. The AIS is a detailed document that encompasses information about your financial transactions, which have been reported by various entities, particularly financial institutions, to the tax department throughout the financial year. While Form 26AS focuses on property purchases, high-value investments, and TDS/TCS transactions conducted throughout the …

Financial Information Income Form Pan Ais Tax Statement

1 year, 6 months ago

How to file income tax return without Form 16

India Today

The deadline for filing Income Tax Returns for the fiscal year 2022-23 is July 31. When filing your income tax return, it is crucial to ensure that the Form 16 you use is valid and in an acceptable format. If you need to file your income tax return without Form 16, follow these steps: Calculate income from salary: Compile the …

Salary Tax Income Form Itr Tds Income Tax Return

1 year, 7 months ago

Why it is important to pre-validate your bank account before filing ITR

Firstpost

The month of May has begun and it is the right time to start filing for income tax return. Things to keep in mind about pre-validating bank accounts before filing ITR As it is quite important for taxpayers to pre-validate their bank account before filing ITR, they need to complete the process beforehand to make it possible for the Income …

Tax Bank Filing Account Pan Itr Valid

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, 9 months ago

Odisha: DRDO Official, Arrested on Espionage Charges, Sent to 4-day Police Custody

News 18

Baburam Dey, a senior Defence Research and Development Organisation official — accused of sharing sensitive information with a Pakistani spy — was sent to four days in police custody on Saturday by a court in Odisha’s Balasore district. Dey, 57, was arrested on charges of passing sensitive information to his handler, suspected to be a Pakistan national for for “sexual …

Police Custody Itr Sensitive Information Balasore Drdo Dey

1 year, 10 months ago

Odisha: DRDO Official Arrested on Espionage Charges, Mobile Phone Seized; Probe Underway

News 18

A senior technical officer of the Income Tax regime wing of the Defence Research and Development Organisation was arrested in Odisha’s Baleswar on charges of espionage. According to the police, a senior-ranking employee of the ITR wing of DRDO Chandipur allegedly shared secret and sensitive defence information on a missile test with a foreign agent in Pakistan. Eastern Range IG …

Itr Drdo

1 year, 10 months ago

Odisha: DRDO official shares secret information with Pakistani woman spy, arrested

India TV News

Odisha: A DRDO official has been arrested for allegedly sharing confidential information with a Pakistani woman spy. Sagarika Nath, SP Balasore on Friday informed that the DRDO official has been arrested in Balasore and was allegedly sharing secret information related to defence from around the last year. 'A DRDO official has been arrested in Balasore for allegedly sharing secret information …

Odisha Pakistan Information Sharing Official Arrested Pakistani

2 years, 4 months ago

ITR filing: I-T department issues top 10 FAQs

Live Mint

The Income Tax Department has issued a set of FAQs on top 10 queries asked by taxpayers while filing their ITRs, according to news agency PTI. Take a look a top 10 clarifications sought by taxpayers on ITR filing, 1) Taxpayers whose mobile number is not linked to Aadhar card can reset the password on income tax e-filing portal using …

Tax Income Department Filing Itr Details Taxpayer

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Articles for Itr, search results for information

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

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

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

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

Taxpayers Alert: CBDT’s new campaign helps you accurately report foreign assets and income for AY 2024-25

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

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

Income mismatch in ITR: How you can fix it, details here

Information From ITR/26AS Can't Be Sole Basis For Service Tax Demands: CESTAT

IT department identifies ITR-related ‘mismatches’, announces this step for taxpayers

Common errors that could lead to flawed ITRs. How to avoid them?

CBDT processed 88 per cent ITR, refunds over Rs 2.45 crore issued till September 5

Income Tax Day 2023: How to use the “AIS for Taxpayers” app while filing your ITR?

Income Tax Day: Have You Checked AIS App Before ITR Filing? Here's How It May Help You

ITR filing: What to do when TDS details are not matching in Form 16, 26AS, and AIS?

ITR filing: What is AIS and how to access it? MintGenie explains

How to file income tax return without Form 16

Why it is important to pre-validate your bank account before filing ITR

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

Odisha: DRDO Official, Arrested on Espionage Charges, Sent to 4-day Police Custody

Odisha: DRDO Official Arrested on Espionage Charges, Mobile Phone Seized; Probe Underway

Odisha: DRDO official shares secret information with Pakistani woman spy, arrested

ITR filing: I-T department issues top 10 FAQs