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Articles for Itr, search results for returns

ITR filing: Last 1 week to go before these income tax deadlines expire on Dec 31
Trending News
1 day, 4 hours ago

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

Live Mint  

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
HC comes to taxpayers’ aid, postpones ITR filing deadline
1 day, 18 hours 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 …

India Mumbai Tax Itr Taxpayers
Missed filing tax returns in July? File your belated ITR for FY24 by December 31
Trending News
5 days, 13 hours ago

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
Own foreign assets or income? Disclose now to avoid Rs 10 lakh penalty
6 days, 13 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
Only 6.68 pc of population filed income tax return in 2023-24 fiscal | DEATILS
1 week ago

Only 6.68 pc of population filed income tax return in 2023-24 fiscal | DEATILS

India TV News  

Income tax returns: The country's population may be the largest in the world, but Indians are still lagging behind in filing income tax returns. The latest data shows that only 6.68 per cent of India's population filed income tax returns for the financial year 2023-24, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya …

Tax Income Tax Income Crore Itr Income Tax Returns Income Tax Return
Income Tax Department admits error of sending wrong ITR notices. Check details
1 week 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
Belated Income Tax Return: You can file it before Dec 31. Check details
1 week, 1 day ago

Belated Income Tax Return: You can file it before Dec 31. Check details

Live Mint  

If you missed filing your income tax return before July 31 then you do not need to fret! For the financial year 2023-24, while the last date of filing income tax return for individual taxpayers was July 31, one can file it before Dec 31 after paying a fee. If you are filing a belated income tax return then you …

Tax Filing File Itr Return Income Tax Return Tax Return
Personal loan for self-employed: How can one raise money based on ITR. Details here
1 week, 1 day ago

Personal loan for self-employed: How can one raise money based on ITR. Details here

Live Mint  

Self-employed individuals can avail of personal loans by providing their Income Tax Return documents as proof of income. Banks typically assess their income tax returns to assess their financial stability, repayment capacity, and eligibility. If you want to procure a personal loan, you need to gather an income tax return for the past 2 to 3 financial years. Typically range …

Personal Bank Loan Personal Loan Income Banks Itr
Karnataka women are filing more income tax returns than ever, with 26% rise: Report
2 weeks, 1 day ago

Karnataka women are filing more income tax returns than ever, with 26% rise: Report

Hindustan Times  

Karnataka has seen a significant rise in women filing income tax returns, with numbers climbing from 11.3 lakh in 2019-20 to 14.3 lakh in the assessment year 2023-24. Women now account for about a third of all ITR filers in the state, up from 29 per cent in 2019-20, suggesting their participation is outpacing overall growth trends. Despite economic disruptions …

Growth Bengaluru Karnataka Women Economic State Report
December tax deadlines: Your essential guide for ITR compliance
2 weeks, 6 days ago

December tax deadlines: Your essential guide for ITR compliance

India Today  

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
December 2024 money deadlines: Belated ITR, free Aadhaar update, special FD rates revision, and key dates you MUST know
Trending News
3 weeks, 4 days ago

December 2024 money deadlines: Belated ITR, free Aadhaar update, special FD rates revision, and key dates you MUST know

Live Mint  

Many financial deadlines are approaching as we are just a month away from the new year. From revised FD rates to deadlines related to Aadhaar updates and income tax returns, people need to keep a few dates in mind in December. Under this FD scheme, the general public will get interest rates of 7.05%, 7.25%, 7.35%, and 7.20% for 300 …

Aadhaar Bank Interest Rates Interest Rates Itr Update
Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official
1 month 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
Trending News
1 month ago

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
ITR deadline: Has income tax return deadline for audit cases been extended?
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
Top events today: PM Modi’s Odisha, Bihar visit, Dev Deepavali in Kashi, ITR filing deadline and more
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
Income Tax Returns data shows that 5 times more people are earning over 50 lakhs per year since PM Modi came to power, pay over 75% of taxes
1 month, 1 week ago

Income Tax Returns data shows that 5 times more people are earning over 50 lakhs per year since PM Modi came to power, pay over 75% of taxes

Op India  

Over the course of last ten years, the number of income tax filers has increased by an astounding 120%, as per media reports. The data from income tax return filings shows that the number of people with yearly incomes over Rs 50 lakh surged five-fold from 1.85 lakh in 2013–14, to over 9.39 lakh in 2023–24. Furthermore, from Rs 2.52 …

Tax Income Tax Income Crore Modi Lakh Itr
ITR filing: Deadline to file tax returns for corporates, some taxpayers is November 15; Check penalty and other details
1 month, 1 week ago

ITR filing: Deadline to file tax returns for corporates, some taxpayers is November 15; Check penalty and other details

Live Mint  

The deadline to file income tax returns by corporates and individuals requiring audit for the financial year 2024-25 is November 15, 2024. Types of taxpayers to file returns by Nov 15: As per an Economic Times report citing Prakash Hegde, a chartered accountant, there are three types of taxpayers who have to file ITR by November 15, for the financial …

Tax Audit Report File Itr Deadline Tax Returns
ITR deadline is November 15, 2024 for these taxpayers: Check details
1 month, 1 week ago

ITR deadline is November 15, 2024 for these taxpayers: Check details

Hindustan Times  

The deadline for filing income tax returns for the financial year 2023-24 is November 15, 2024, specifically for taxpayers subject to an income tax audit and some other designated taxpayers, The Economic Times reported. Thus, the tax audit report must also be submitted before filing the ITR. The ET report cited chartered accountant Prakash Hegde as saying the following types …

Tax Audit 2024 Report Itr Taxpayers 15 Deadline
Ludhiana: Parents allege BCM School demanding IT returns for admissions
2 months, 3 weeks ago

Ludhiana: Parents allege BCM School demanding IT returns for admissions

Hindustan Times  

Parents seeking nursery admissions for their kids at BCM School, Sector 32, Chandigarh Road, alleged that the school is asking for their income tax returns as part of the documentation. BCM School, Sector 32, Chandigarh Road, Ludhiana, principal DP Guleria said the ITR request was optional. CBSE’s deputy co-ordinator for the city and Nankana Sahib Public School principal Harmeet Kaur …

School Cbse Itr Parent Bcm School
ITR refund pending? Tax dept legally has time until 2025 to process it
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
78% of India's delivery gig workers earn less than 2.5 lakh a year: Report
4 months ago

78% of India's delivery gig workers earn less than 2.5 lakh a year: Report

Hindustan Times  

77.6% of gig delivery workers in India earn less than ₹2,50,000 per annum, Business Standard wrote, citing a recent survey by Borzo, a global same-day delivery company. Only 33.5% of the surveyed gig workers filed income tax returns, which means 66.5% haven't done so. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Only 24% of gig workers invested in Public Provident Fund, generally contributing …

India Tax Income Tax Workers Gig Workers Itr Gig
Taxpayers alert! ITR processing time reduced to 10 days from 93 days
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
What should you do if you get an income tax notice after ITR filing? Know here
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
A Tough Life With Little Earnings, India's Gig Delivery Workers Lack Financial Literacy: Report
4 months, 2 weeks ago

A Tough Life With Little Earnings, India's Gig Delivery Workers Lack Financial Literacy: Report

News 18  

Borzo, a global delivery company, conducted a study to delve into the financial literacy of gig delivery workers by understanding their awareness and comprehension of savings tools, taxation and slabs, income, etc. Here are the key insights from the report: Survey Findings: Income Range: A significant majority of gig delivery workers reported annual incomes less than Rs 2,50,000. The data …

India Financial Tax Financial Literacy Delivery Workers Pay