Income Tax

Timelines
FY2019-20 ITR deadline revised: Late filing fees, penalties, and more

24 Oct 2020

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.

PM Modi launches Transparent Taxation platform for honest taxpayers

13 Aug 2020

PM Modi launches Transparent Taxation platform for honest taxpayers

In a move aimed at helping honest taxpayers, Prime Minister Narendra Modi on Thursday launched the "Transparent Taxation - Honoring The Honest" platform.

Rajasthan: Open for talks, says Congress after Sachin Pilot revolts

13 Jul 2020

Rajasthan: Open for talks, says Congress after Sachin Pilot revolts

With "rebel" Sachin Pilot deriding Rajasthan Chief Minister Ashok Gehlot in public, the Congress government on Monday extended an olive branch to him saying that differences can be resolved.

'Raid' sequel is happening; Ajay Devgn to lead the film

23 Apr 2020

'Raid' sequel is happening; Ajay Devgn to lead the film

After delivering this year's biggest blockbuster Tanhaji: The Unsung Warrior, the actor-director duo of Ajay Devgn and Bhushan Kumar are all set to bring forward a sequel of their 2018 hit movie Raid.

Coronavirus crisis: I-TR filing deadline extended to June 30

24 Mar 2020

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.

#CareerBytes: Career options to go for after pursuing Chartered Accountancy

17 Feb 2020

#CareerBytes: Career options to go for after pursuing Chartered Accountancy

In India, Chartered Accountancy (CA) is one of the most sought-after professional courses.

Old vs new tax regime: Which one is better?

01 Feb 2020

Old vs new tax regime: Which one is better?

Finance Minister Nirmala Sitharaman on Friday presented the Union Budget for the fiscal year 2020-21.

Bank unions announce nationwide strike on Jan 31, Feb 1

15 Jan 2020

Bank unions announce nationwide strike on Jan 31, Feb 1

Bank employee unions on Wednesday announced a two-day nationwide strike starting January 31.

Income Tax relief for middle class likely in Budget 2020

07 Jan 2020

Income Tax relief for middle class likely in Budget 2020

With the announcement of the Union Budget 2020 less than a month away, the Ministry of Finance is apparently looking into providing income tax relief to the middle class.

#FinancialBytes: What is advance tax and who should file it?

08 Dec 2019

#FinancialBytes: What is advance tax and who should file it?

Income tax accounts for a significant part of the government's revenue, and it is the responsibility of taxpayers to pay the required tax on the income they earned during a year on time.

Income Tax sleuths raid BMC contractors, unearth irregularities

15 Nov 2019

Income Tax sleuths raid BMC contractors, unearth irregularities

At a time when Maharashtra is going through a political crisis, the Income Tax department raided contractors hired by Brihanmumbai Municipal Corporation, a stronghold of Shiv Sena.

Now, apply for instant e-PAN using Aadhaar. Here's how

05 Nov 2019

Now, apply for instant e-PAN using Aadhaar. Here's how

Permanent Account Number (PAN) is a unique, ten-digit alphanumeric identity issued by the Income Tax department to all taxpaying entities in India.

13 cars linked to Nirav Modi to be auctioned soon

03 Nov 2019

13 cars linked to Nirav Modi to be auctioned soon

As many as 13 motor vehicles, including luxury cars, linked to disgraced diamond businessman Nirav Modi are set to be auctioned by the Enforcement Directorate in Mumbai on Thursday, November 7.

Benefits and procedure of linking PAN and Aadhaar

28 Oct 2019

Benefits and procedure of linking PAN and Aadhaar

December 31, 2019 is the last date to link your PAN with Aadhaar. Earlier, this deadline was September 30.

Here's how NRIs can apply for PAN in India

24 Oct 2019

Here's how NRIs can apply for PAN in India

Permanent Account Number (PAN) is a unique, ten-digit alphanumeric identity issued by the Income Tax Department to all tax-paying individuals and organizations in India.

I-T seizes Rs. 93cr in cash, jewelry from Kalki Bhagavan

19 Oct 2019

I-T seizes Rs. 93cr in cash, jewelry from Kalki Bhagavan

The Income Tax department has detected an undisclosed amount of over Rs. 500 crore from the premises of self-styled godman and spiritual guru Kalki Bhagavan, who claims to be the tenth avatar of Lord Vishnu.

Here's how to link PAN and Aadhaar via different modes

09 Oct 2019

Here's how to link PAN and Aadhaar via different modes

December 31, 2019 is the last date to link your PAN with Aadhaar. Earlier, this deadline was September 30.

Deadline to link PAN with Aadhaar extended to December 31

28 Sep 2019

Deadline to link PAN with Aadhaar extended to December 31

The deadline to link Permanent Account Number (PAN) with Aadhaar has been extended by three months to December 31, 2019 according to an official notification released by the Ministry of Finance today. Earlier, this deadline was September 30.

Government cuts corporate tax rate to 22% for domestic companies

20 Sep 2019

Government cuts corporate tax rate to 22% for domestic companies

In a move which is expected to boost growth and provide some respite to the sluggish economy, the government has decided to slash income tax for corporates.

Aadhaar: Some lesser-known features you may not know about

17 Sep 2019

Aadhaar: Some lesser-known features you may not know about

Aadhaar is a 12-digit identification number issued by the Unique Identification Authority of India (UIDAI) to the residents of India.

For 40 years, citizens have been paying UP's ministers taxes

14 Sep 2019

For 40 years, citizens have been paying UP's ministers taxes

A four-decade-old law which prevented Uttar Pradesh ministers from paying their own income tax has been repealed by Yogi Adityanath-led state government.

Mukesh, Nita and Ambani kids get Income Tax notices: Report

14 Sep 2019

Mukesh, Nita and Ambani kids get Income Tax notices: Report

Reliance Industries head honcho Mukesh Ambani, his wife Nita, and their three children- Akash, Anant, and Isha, have received notices from the Mumbai leg of Income Tax Department, Indian Express reported on Saturday.

Do NRIs need to link their PAN with Aadhaar?

12 Sep 2019

Do NRIs need to link their PAN with Aadhaar?

According to government's notification, it is mandatory to link PAN and Aadhaar latest by September 30, 2019, or your PAN might become invalid.

Don't have a PAN yet? Reasons why you'd need one

11 Sep 2019

Don't have a PAN yet? Reasons why you'd need one

Permanent Account Number (PAN) is a unique, ten-digit alphanumeric identity issued by the Income Tax Department to all taxpayers in India.

Need to update/change Aadhaar details? Here's how to book appointment

05 Sep 2019

Need to update/change Aadhaar details? Here's how to book appointment

The Unique Identification Authority of India (UIDAI) has set up several Aadhaar Seva Kendras (ASKs) in many cities across the country.

Automatic PAN generation for taxpayers using Aadhaar to file ITR

04 Sep 2019

Automatic PAN generation for taxpayers using Aadhaar to file ITR

The Income Tax department will now issue a Permanent Account Number (PAN) to taxpayers using their Aadhaar number to file Income Tax returns, as a new method to link the two databases.

DK Shivakumar arrested: Congress cries foul, Yediyurappa "isn't happy"

04 Sep 2019

DK Shivakumar arrested: Congress cries foul, Yediyurappa "isn't happy"

The Enforcement Directorate (ED) on Tuesday night arrested DK Shivakumar, Congress' strongman in Karnataka, in connection to a money laundering case. The agency moved for his arrest after grilling him several times in the last couple of days.

Received notice from Income-tax department? These could be the reasons

30 Aug 2019

Received notice from Income-tax department? These could be the reasons

Whether favorable or not, you should never ignore a notice from the Income Tax department.

Earning Rs. 5L-10L? You might soon get income tax relief

29 Aug 2019

Earning Rs. 5L-10L? You might soon get income tax relief

The government should bring down income tax for those earning between Rs. 5 lakh and Rs. 10 lakh per year to 10%, a top panel has suggested.

Need to update/correct details in PAN card? Here's the procedure

28 Aug 2019

Need to update/correct details in PAN card? Here's the procedure

Permanent Account Number (PAN) is a unique, 10-digit alphanumeric identity allotted to all taxpayers in India by the Income Tax department.

Want to secure Aadhaar? Here's how to lock/unlock its data

26 Aug 2019

Want to secure Aadhaar? Here's how to lock/unlock its data

In a bid to enhance security of users' biometric data, and prevent potential misuse of sensitive personal information, the Unique Identification Authority of India (UIDAI) launched a service, by which users can "lock/unlock" their biometrics.

Lost/misplaced PAN card? Here's how you can get a duplicate

25 Aug 2019

Lost/misplaced PAN card? Here's how you can get a duplicate

Permanent Account Number (PAN) is a unique, 10-digit alphanumeric identity allotted to all taxpayers in India, that is essential for undergoing various financial transactions such as receiving taxable salaries/professional fees, sale or purchase of assets, trading of mutual funds, etc.

Filing your Income Tax return (ITR)? Know these points

24 Aug 2019

Filing your Income Tax return (ITR)? Know these points

August 31, 2019 is the last date to file your Income Tax return (ITR).

PAN card with QR code: All you need to know

23 Aug 2019

PAN card with QR code: All you need to know

According to Income Tax (I-T) Act rules, it is illegal to hold more than one PAN card.

PAN card verification: How to verify your PAN online

22 Aug 2019

PAN card verification: How to verify your PAN online

Permanent Account Number (PAN) is a unique, 10-digit alphanumeric identity allotted to all taxpayers in India by the Income Tax department.

Aadhaar-PAN linkage: Status, deadline, procedure, and other details

17 Aug 2019

Aadhaar-PAN linkage: Status, deadline, procedure, and other details

If your PAN is not linked with Aadhaar, it might get deactivated soon.

How to quote your Aadhaar number in Income Tax return

03 Aug 2019

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.

Protect your Aadhaar data: Here's how to lock/unlock Aadhaar number

02 Aug 2019

Protect your Aadhaar data: Here's how to lock/unlock Aadhaar number

In a bid to strengthen the privacy and security of Aadhaar, the Unique Identification Authority of India (UIDAI) has introduced a feature that enables users to lock/unlock their Aadhaar number.

#CareerBytes: Some lesser known perks of being an IRS officer

01 Aug 2019

#CareerBytes: Some lesser known perks of being an IRS officer

The Indian Revenue Service (IRS) is one of the most sought-after Civil Services in the country.

What led to the demise of CCD founder Siddhartha

31 Jul 2019

What led to the demise of CCD founder Siddhartha

CCD founder-owner VG Siddhartha, whose body was found on Wednesday from Netravati river in Mangaluru, had started selling his assets earlier this year, reports claimed.