Income Tax Department of India: News
Several records missing from Income Tax Department: CIC informed
The Central Information Commission (CIC) has been informed that several records have gone missing from the Income Tax Department because of a restructuring drive in 2001 and 2013.
Kejriwal asks PM to apologize after I-T raids Gahlot's premises
Prime Minister Narendra Modi should apologize to people for "constantly troubling" the Delhi Government, Chief Minister Arvind Kejriwal said today following the Income Tax Department raids on premises linked to his Minister Kailash Gahlot.
Delhi minister Kailash Gahlot faces I-T raids, Kejriwal alleges vendetta
On Wednesday morning, the Income Tax Department started carrying out raids in 16 locations linked to Delhi Transport Minister Kailash Gahlot, including his Vasant Kunj residence.
Time for final publication of electoral rolls in Telangana extended
The Election Commission of India has extended the date for the final publication of electoral rolls in Telangana from October 8 to October 12.
In an I-T raid, Ludhiana's pakode wala surrenders Rs. 60L
The famous pakode wala from Ludhiana, Panna Singh Pakode Wale, surrendered Rs. 60 lakh to the Income Tax Department, the TOI reported.
About 50% of PANs linked with Aadhaar till now: Data
Over 21.08cr Permanent Account Numbers (PANs) have been linked with Aadhaar till now, the latest data revealed as the Supreme Court today upheld the validity of the linkage between the two databases.
Know how to apply for a PAN card online
Whether you're thinking of getting a debit/credit or buying a property or opening a savings bank account, there is one document that you will need for each of these activities. And that document is the Permanent Account Number (PAN) card.
All your questions about the government's 'DigiLocker' facility answered
Many people often worry about losing or misplacing important documents like Aadhaar card, driving license, PAN card, certificates, etc. while carrying them physically.
Srijan scam: I-T department raids Sushil Modi's sister's house
On Thursday, the Income Tax Department started search operations at eight places in Bihar, including the house of Bihar deputy CM Sushil Modi's cousin, in connection with the Rs. 880cr Srijan scam.
#FinancialBytes: Know how to apply for a PAN card online
Whether you're thinking of getting a debit/credit or buying a property or opening a savings bank account, there is one document that you will need for each of these activities. And that document is the Permanent Account Number (PAN) card.
#FinancialBytes: What happens if you miss tomorrow's ITR filing deadline
The new Income tax filing deadline, ie. August 31, is just a day away. Earlier, the due date was July 31, which was later extended by a period of one month.
Company Director sent to jail for Rs. 50L TDS default
A Delhi court has sentenced the Director of a real estate firm to six months' rigorous imprisonment for allegedly failing to deposit over Rs. 50L TDS (tax deducted at source) in time to Income Tax Department.
#PolicyExplainer: All your questions about the government's 'DigiLocker' facility answered
Many people often worry about losing or misplacing important documents like Aadhaar card, driving license, PAN card, certificates, etc. while carrying them physically.
Know all about Income Tax in India
Income tax refers to the percentage of your income that you're required to pay to the government under the Income Tax Act. Income tax is applicable to both individuals and companies and all types of income, be it from salary, capital gains, business/profession or any other source.
All you need to know about your Form 16
As a salaried person, you must have heard the term 'Form 16'.
#FinancialBytes: Know which Income Tax Return form you should file
Since April 5, 2018, the Income Tax Department has been uploading the Income Tax Return (ITR) forms for the Assessment Year 2018-19 (Financial Year 2017-18). In total there are 7 such forms.
#FinancialBytes: How to pay your taxes online and offline
In a given financial year, your income is taxable in three ways, namely- 1) Tax deducted at source, 2) Advance tax payments, and 3) Self-assessment taxes (before filing ITR).
#FinancialBytes: Here's how you can file the I-T return yourself
Every individual, whose total income during a financial year exceeds the maximum income not chargeable to tax, is required to file an income tax return (ITR) as per the Income Tax Act, 1961.
Income Tax collection at record Rs. 10.03 lakh crore: CBDT
Income Tax collection in the country stood at a record Rs. 10.03 lakh crore during 2017-18.
#FinancialBytes: 4 things to know if you haven't filed ITR
The due date for filing ITRs for this year has been extended by a month, from the earlier deadline of July 31 to August 31.
#PolicyExplainer: All your questions about the government's 'DigiLocker' facility answered
Many people often worry about losing or misplacing important documents like Aadhaar card, driving license, PAN card, certificates, etc. while carrying them physically.
#FinancialBytes: 4 things to know if you haven't filed ITR
The due date for filing ITRs for this year has been extended by a month, from the earlier deadline of July 31 to August 31.
#FinancialBytes: How to file ITRs if you are an NRI
As per I-T department norms, non-resident Indians (NRIs), too, are subject to taxes on income, if such income is earned in India, or received or deemed to be received in India.
#FinancialBytes: 10 Documents you need while filing your I-T Return
Notably, the deadline for filing of Income Tax Return for the FY 2017-18 has been extended to August 1.
#FinancialBytes: What happens if you fail to file your ITR?
The Finance Ministry has extended the ITR filing deadline from July 31 to August 31, 2018.
#FinancialBytes: How to save Income Tax under Section 80C
Every individual, who earns more than a certain amount, is required to pay taxes in accordance to the Income Tax Act. If you don't plan well, this may seem like a hefty payment.
#FinancialBytes: Reasons to file ITR even if income is non-taxable
Many people assume that since their estimated net income for the year doesn't exceed the tax exemption limit, they need not file an income tax return (ITR).
ITR filings have doubled, refunds have increased significantly
While the Finance Ministry has extended the deadline for filing of annual income tax returns (ITRs) to August 31, it seems like the government's efforts to bring more eligible people under the tax net has worked.
#FinancialBytes: 9 things to keep in mind while filing ITRs
July has almost come to an end, and the deadline to file ITR ie. 31 July (for most of us) is closer than ever, with just 4 days to spare.
ITR filing deadline extended for 'certain categories' of taxpayers
In a tweet, the Finance Ministry has announced that the deadline for the filing of Income Tax returns has been extended by a month to August 31, 2018, albeit only for certain categories of taxpayers.
#FinancialBytes: Know all about Income Tax in India
Income tax refers to the percentage of your income that you're required to pay to the government under the Income Tax Act. Income tax is applicable to both individuals and companies and all types of income, be it from salary, capital gains, business/profession or any other source.
#FinancialBytes: How to file your ITR using form ITR-3?
Just six days are left for you to file your ITR. So, if you haven't yet, do it as soon as possible, so as to avoid facing a penalty.
#FinancialBytes: Here's how you can file the I-T return yourself
Every individual, whose total income during a financial year exceeds the maximum income not chargeable to tax, is required to file an income tax return (ITR) as per the Income Tax Act, 1961.
#FinancialBytes: Form 26AS and its role in filing ITRs
The deadline for filing ITR i.e. July 31, is just a week away. So, if you haven't yet filed your ITR, do it now to avoid getting penalized.
All you need to know about your Form 16
As a salaried person, you must have heard the term 'Form 16'.
#FinancialBytes: Know how to file your ITR without Form 16
The due-date for filing your Income Tax return for this assessment year is July 31.
#FinancialBytes: Know how to check your I-T refund status online
After you're done with the filing and verification of your ITR, you can easily keep track of the refund status online.
#FinancialBytes: Know which Income Tax Return form you should file
Since April 5, 2018, the Income Tax Department has been uploading the Income Tax Return (ITR) forms for the Assessment Year 2018-19 (Financial Year 2017-18). In total there are 7 such forms.
SIT on black money suggests Rs. 1cr cap on cash-holdings
The Special Investigation Team (SIT) on black money has recommended the central government to cap the cash holding limit at Rs. 1cr instead of its earlier suggestion of Rs. 20L.
#FinancialBytes: How to file I-T Return in case of job-change?
In order to file the income tax, if one has changed jobs, the final figures of payable tax has to be arrived at, considering all the employers, the current and the previous ones.