Income Tax Return: News
Didn't report crypto gains? Here's how to fix your ITR
The Income Tax Department has issued notices to thousands of taxpayers who failed to declare their cryptocurrency earnings in their returns for the assessment years 2023-24 and 2024-25.
Oman becomes 1st Gulf country to impose income tax
Oman has announced plans to impose a 5% income tax from 2028, becoming the first Gulf country to do so.
Online filing of ITR-1 and ITR-4 now live—Who can apply?
The Income Tax Department has enabled online filing of ITR-1 and ITR-4 forms for the financial year 2024-25 (Assessment Year 2025-26).
Income tax return filing: Key changes you must know about
The Central Board of Direct Taxes (CBDT) has released the Income Tax Return (ITR) forms for the Assessment Year (AY) 2025-26.
File updated ITR before March 31 deadline: Here's how
The Income Tax Department has launched a new form, ITR-U, for taxpayers to file updated Income Tax Returns (ITR).
Big B surpasses SRK, pays ₹120 crore in taxes
At 82, Bollywood superstar Amitabh Bachchan remains a dominant force in Indian cinema and is also one of the highest tax-paying celebrities in India.
March 2025: Don't miss these key income tax deadlines
As we near March 2025, it is imperative for taxpayers to remain abreast of the forthcoming income tax deadlines.
For first-time taxpayers: How to file I-T returns in India
Filing income tax returns (ITR) for the first time can be intimidating for many Indians.
Conman Sukesh declares overseas income, offers to pay ₹7,640cr taxes
Conman Sukesh Chandrasekhar, arrested in 2015 for his involvement in a multi-crore fraud case, has reportedly declared an overseas income of ₹22,410 crore for the year 2024.
Here's your ultimate guide to income tax e-filing in India
Filing income tax returns in India doesn't have to be a daunting task anymore.
Attention taxpayers! Disclose foreign income ASAP or hefty face penalty
The Income Tax Department has reminded taxpayers to disclose any undisclosed foreign income or assets before the year ends.
Corporates can now file income tax return till November 15
The Central Board of Direct Taxes (CBDT) has announced a 15-day extension for submitting corporate income tax returns.
Waiting on your ITR refund? Know reasons behind the delay
Many taxpayers in India are currently experiencing delays in receiving their income tax refunds, leading to frustration and confusion.
ITR refund scam: How to spot it and protect yourself
The Income Tax Department of India is urging taxpayers to be vigilant against a recurring scam targeting ITR refunds for FY2023-24 (assessment year 2024-25).
What happens if you miss ITR filing deadline? Explained here
The Income Tax Department has not extended the deadline for filing income tax returns (ITRs) for the fiscal year 2023-24, which was set for July 31.
Filed ITR? Here's how to check your refund status online
The deadline for filing Income Tax Returns (ITRs) for the financial year 2023-24 is today, midnight.
Waiting for ITR refund? Here's how long it may take
An Income Tax Refund (ITR) is issued by the Income Tax Department when you've overpaid your taxes.
What happens if you miss deadline to file tax returns
The final day to file the income tax returns (ITR) for the financial year 2023-24 is Wednesday, that is July 31.
ITR 2024 deadline: Beat last-minute rush with these key steps
With the July 31 deadline for filing income tax returns for the financial year 2023-24 fast approaching, taxpayers are urged to act fast.
You can file your ITR 2024 using WhatsApp: Here's how
ClearTax has launched a new service that allows taxpayers to file their Income Tax Returns (ITR) via WhatsApp.
Filing ITR 2024? Don't let these errors cause ITR rejection
The Indian Income Tax Department may reject your Income Tax Return (ITR) form due to several reasons.
Filing done? Now verify ITR online with these simple steps
The Income Tax Department of India has made it mandatory for taxpayers to verify their Income Tax Return (ITR) within 30 days of filing.
Technical glitches plague ITR 2024 filing: Will Centre extend deadline?
As the July 31 deadline for filing income tax returns (ITRs) for the financial year 2023-24 looms, taxpayers are grappling with persistent technical issues on the e-filing portal.
ITR 2024 deadline: Know all about penalties on late filing
The Income Tax Department has disclosed the penalties for late filing of Income Tax Return (ITR) for the financial year 2023-24.
India's net direct tax collection surges 19.5% to ₹5.74L crore
The Income Tax Department has reported a significant 19.54% increase in net direct tax collection for the fiscal year (FY) 2024-25 so far, reaching ₹5.74 lakh crore by July 11, 2024.
Why you must file your ITR before July 31
The last date to file income tax returns (ITR) for the financial year 2023-24, corresponding to the assessment year 2024-25, is July 31, 2024.
How to avoid capital gains tax on jewelry sale?
India's Income Tax Act, specifically Section 54F, provides a unique tax exemption opportunity for individuals selling jewelry.
IT Department alleges insurance companies evaded taxes worth Rs. 25,000cr
The Income Tax Department is about to issue tax demand notices totaling Rs. 25,000 crore by the end of March, to various insurance companies.
Income Tax e-filing website unavailable from February 3-5: Here's why
The Income Tax department has announced that its e-filing portal will be temporarily unavailable from 2pm on February 3 to 6am on February 5, due to scheduled maintenance activities.
Save on income tax by donating to Ram Mandir
Taxpayers can benefit from income tax savings by donating to the Ram Mandir in Ayodhya, as the Central Government has designated "Shri Ram Janmabhoomi Teerth Kshetra" (PAN: AAZTS6197B) as a site of historical significance and public worship.
ITRs filed in 2023-24 increase by 9% to record 8.18cr
India experienced a significant 9% increase in income tax returns filed, with a record 8.18 crore submissions by December 31, 2023, compared to 7.51 crore during the same period in 2022.
Last day to file ITR for FY2022-23 ends today
The clock is ticking for taxpayers, as the deadline to file Income Tax Returns (ITR) for the financial year 2022-23 is set for today (December 31).
7.85cr ITRs filed till October 31, highest ever in India
The filing of Income Tax Returns (ITR) has reached a record-breaking milestone in 2023, with 7.85 crore filings documented by October 31 in FY23-24.
35 lakh income tax refunds delayed in India: Here's why
Income tax refunds for around 35 lakh taxpayers are currently "held up" due to mismatch and validation issues with their bank accounts, as per Central Board of Direct Taxes (CBDT) Chairperson Nitin Gupta.
What happens if you miss Income Tax Return deadline
The deadline to file your Income Tax Returns (ITR) for 2023 is today, July 31.
How earnings from YouTube videos are taxed
YouTube has become the go-to platform for sharing creativity and knowledge with people all over the globe.
ITR filing: Top 10 mistakes you need to avoid
Many individual taxpayers prefer to file their Income Tax Returns (ITR) themselves, but not everyone is an expert in the complex Income Tax Law.
10 income tax rule changes from April 1: Know here
The new financial year 2023-24, which starts on Saturday (April 1), will see the Ministry of Finance bring about many changes to the income tax rules.
Report fearlessly: BBC director-general to India staff after tax 'survey'
Days after the tax "survey" at the BBC offices in Delhi and Mumbai, the global media giant's director-general, Tim Davie, wrote an email to its staff in India, asking them to report without fear or favor.
Suffered loss in Adani stocks? Get relief during ITR filing
Gautam Adani-owned Adani Group went into a meltdown after Hindenburg Research's damning report in January.
Union Budget 2023: How's new tax regime different from old
In a relief to middle-class citizens in the Union Budget 2023-24, the income tax exemption limit under the new tax regime has been increased from Rs. 2.5 lakh to Rs. 3 lakh, while the tax rebate limit was raised from Rs. 5 lakh to Rs. 7 lakh.
Union Budget 2023-24: No income tax up to Rs. 7L
Announcing the new Union Budget for 2023-24 today, Finance Minister Nirmala Sitharaman declared renewed income tax rates.
Centre mulling over reducing income tax rates under new regime
The central government is mulling over lowering income tax rates in order to make the new direct tax regime more attractive, as per a report by Reuters.
ITR verification time limit reduced from 120 to 30 days
The time limit for the e-verification or hard copy filing of the ITR-V (Income Tax Return-Verification), which is done after filing taxpayer returns, has been reduced from 120 days to 30 days, with effect from Monday (August 1), by the Income Tax Department.
Income tax deadline: 'Extend due date immediately' trends on Twitter
Taxpayers have voiced a number of concerns over the income tax portal as the Income Tax Return (ITR) filing deadline approaches and have demanded an extension of the deadline.
Filing income tax returns? Keep these lesser-known deductions in mind
The last date for filing income tax returns for the financial year 2021-22 or assessment year 2022-23 is July 31.
Income tax rules: 3 big changes to keep in mind
Three significant changes in India's income tax rules came into effect on July 1, 2022.
Pandora Papers probe begins; I-T notices sent to Indians, NRIs
The Centre's investigation into the Pandora Papers revelations is gathering pace with the Income Tax Department sending notices to most Indians named in the exposé.
CBDT extends deadline for Income Tax Returns till December 31
The Central Board of Direct Taxes (CBDT) has extended the deadline for filing Income Tax Returns (ITRs) for the assessment year 2021-22 till December 31.
Government has created mess: Shashi Tharoor on new I-T portal
Attacking the central government over the glitches in the new Income Tax portal, senior Congress leader Shashi Tharoor alleged that even after spending Rs. 4,200 crore on the new I-T portal, the government had "failed" to make it user-friendly and created a "mess" instead.
Last-minute tax savings: Few common mistakes you must avoid
Those of us who wait until the last minute to plan taxes are bound to make some major mistakes.
TDS rules change from this month. Check details here
In the Union Budget 2021, the Finance Ministry has introduced a fresh rule to deduct Tax Deducted at Source (TDS) at a higher rate for those who failed to file their income tax returns for the past couple of years.
How to apply for PAN instantly on new Income-Tax portal
Permanent Account Number (PAN) is an important alphanumeric identity issued by the Income Tax Department to all the taxpayers in India.
Everything you should know about I-T Department's new e-filing portal
The Indian government's Income Tax (I-T) department has started using its new taxpayer-friendly portal. The new website (www.incometax.gov.in) replaces the old one (www.incometaxindiaefiling.gov.in).
#Budget2021: Senior citizens with only pension/interest income exempted from ITR
In her third Union Budget, Finance Minister Nirmala Sitharaman announced that senior citizens above 75, who rely only on pension and interests for income, will be exempted from filing Income Tax Returns.
FY2019-20 ITR deadline revised: Late filing fees, penalties, and more
The last date for filing income tax returns (ITRs) for assessment year (AY) 2020-21, which is the financial year (FY) 2019-20, has been extended by the government to December 31 for individual taxpayers.
Coronavirus crisis: I-TR filing deadline extended to June 30
In the wake of coronavirus pandemic wreaking havoc on the Indian economy, Union Finance Minister Nirmala Sitharaman announced that an economic package will be rolled out soon.
How to quote your Aadhaar number in Income Tax return
August 31, 2019 is the last date to file your Income Tax return for FY 2018-19.
Income Tax: How salaried individuals can file their I-T return
August 31, 2019 is the last date to file Income Tax return for FY 2018-19.
Last date to file Income-Tax return extended to August 31
In what would come as a relief for taxpayers, the Income Tax department has extended the last date to file I-T returns for FY 2018-19 by one month to August 31.
#FinancialBytes: List of documents needed to file Income Tax returns
July 31, 2019 is the last date to file Income tax returns for FY 2018-19.
Don't have PAN? Now, use Aadhaar to file Income-Tax returns
Union Finance Minister Nirmala Sitharaman on Friday, presented her and the new Central government's first budget.
#FinancialBytes: Five ways to verify your Income tax returns
You might think that filing your Income Tax return on time is all you have to do.
#FinancialBytes: Filing income-tax returns? Here are some mistakes to avoid
Filing income tax returns (ITRs) on time every year is very important. However, the process of filing ITRs can be quite daunting for many individuals.
#FinancialBytes: Latest ITR-1 changes taxpayers need to be aware of
Income tax accounts for a major part of the government's revenue and salaried individuals form a significant chunk of the overall taxpayers.
#FinancialBytes: How to file income tax returns (ITRs) online?
Income tax accounts for a major part of the government's revenue and salaried individuals form a significant chunk of the overall taxpayers in the country.
#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: 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: 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: 10 Documents you need while filing your I-T Return
The deadline for filing of Income Tax Return for the FY 2017-18, i.e. July 31, 2018, is approaching fast.
#FinancialBytes: Missed filing I-T return? Here's what you can do
The due date for filing the Income Tax Return for the financial year 2016-17 was July 31, 2017.
#FinancialBytes: 10 Documents you need while filing your I-T Return
The deadline for filing of Income Tax Return for the FY 2017-18, i.e. July 31, 2018, is approaching fast.
#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 Department launched all 7 ITR forms for e-filing
The Income Tax Department today launched and activated all the seven Income Tax Return (ITR) forms for e-filing by taxpayers, after over a month of them being notified.
#FinancialBytes: How to file income tax online using ITR Form-1
The online portal for filing income tax returns (ITR) for the financial year 2017-18 (assessment year 2018-19) has been opened by the Income Tax Department for those who are eligible for the ITR Form-1 (Sahaj) i.e. people who have incomes of up to Rs. 50 lakh.