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Latest Articles in income tax

No Grant For Tax Extension, Says Revenue Secretary

It is estimated that over 56 million ITRs have been filed as of 8 pm on 31 July

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British PM Candidate Sunak Vows 20% Income Tax Cut By 2029

Rishi Sunak, trailing in the race to become Britain's next prime minister, has vowed to slash the basic rate of income tax by 20 per cent by 2029 in a potentially make-or-break throw of the dice by the former finance minister

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Prompt Grievance Redressal Of Taxpayers Top Priority: CBDT Chairman Nitin Gupta

In his message on the occasion of Income Tax Day, he said the tax department has reported the highest ever tax collection of Rs 14.09 lakh crore in the fiscal year ended March 31, 2022

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54% Left For Filing ITR, 34% Finds Difficulty In Paying Before Deadline, Says Survey

More than 50 per cent of people are due to file their ITRs by 31 July, according to a LocalCircle report

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Govt Notifies ITR Forms For 2021-22; Seeks Details On Overseas Pension A/C

ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) forms cater to small and medium taxpayers

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I-T Dept Reforms, Stronger Economy Led To Record Tax Collections: CBDT

Reforms undertaken within the Income Tax department and the "strengthening" of the economy are among the major factors that led to the highest-ever direct tax collections, CBDT Chairman said

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Tarun Bajaj Proposes Govt To Abolish Old Tax Regime

Tarun Bajaj has made proposal of removing old tax regime with the aim of encouraging taxpayers to adopt the new system of income tax

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Tax To Be Imposed On PF Accounts From 1st April; New PF Rules For Working Class

Small and middle class taxpayers will not be affected by the new rule of EPFO.

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No Change In Income Tax Slab: FM Sithatran

The government has provided taxpayers with an opportunity to file an updated tax return to report any income that was erroneously missed out or to correct errors in much-awaited tax reform.

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Income Tax Returns Filing For FY21 Crosses 5 Crore: I-T Department

Taxpayers who have not e-verified their ITRs for the financial year 2019-20 can complete the verification process by February 28, 2022, as the income tax department has given a one-time relaxation to assessees.

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Income Tax Refunds Of Over Rs 1.49 Trillion Issued So Far This Fiscal

This includes 1.07 crore refunds of AY 2021-22 (fiscal ended March 31, 2021), amounting to Rs 21,021 crore

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Over 40 Mn Income Tax Returns e-filed For FY21 So Far, Says I-T Dept

With December 31 being the last date for filing FY'21 income tax returns (ITRs) for individual taxpayers, there has been surge in e-filing and 46.77 lakh returns were filed in the last seven days.

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Finmin Officials Hold Review Meeting With Infosys Chief

In a statement on Thursday, the ministry said that Bajaj along with other senior ministry officials held a review meeting regarding the portal with Parekh.

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Over 3 Crore Income Tax Returns Filed For FY21: Finmin

The number of ITRs filed per day is over four lakh and rising as the extended deadline of December 31 is approaching, an official statement said.

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IT Dept Finds Rs 500 Cr Black Income After Raids On Jaipur Jewellery Group

The tax department also seized Rs 4 crore cash and jewellery valued at Rs 9 crore during the action against the unidentified group.

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