Income Tax Act

Timelines
#FinancialBytes: Financial deadlines to watch out for in March 2020

15 Mar 2020

#FinancialBytes: Financial deadlines to watch out for in March 2020

One must stay on top of crucial financial deadlines in order to have an organized financial life and avoid penalties.

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.

5 big takeaways of Nirmala Sitharaman's budget you should know

01 Feb 2020

5 big takeaways of Nirmala Sitharaman's budget you should know

Finance Minister Nirmala Sitharaman presented her second Union Budget at a time when the Indian economy is struggling, raising concerns among world bodies like the International Monetary Fund (IMF).

#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.

#FinancialBytes: SBI Tax Savings Scheme- Interest rate, tenure and more

20 Sep 2019

#FinancialBytes: SBI Tax Savings Scheme- Interest rate, tenure and more

The State Bank of India, India's largest lender, offers many short-term and long-term saving schemes to its customers.

India Inc. welcomes Sitharaman's tax announcement, Modi calls it historic

20 Sep 2019

India Inc. welcomes Sitharaman's tax announcement, Modi calls it historic

The effect of Finance Minister Nirmala Sitharaman's massive announcement was seen instantly as markets rejoiced on Friday.

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.

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.

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.

Income Tax: How salaried individuals can file their I-T return

28 Jul 2019

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.

How to update address and other details in PAN card

25 Jul 2019

How to update address and other details in PAN card

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

Last date to file Income-Tax return extended to August 31

23 Jul 2019

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: How to check your Income Tax refund status online

23 Jul 2019

#FinancialBytes: How to check your Income Tax refund status online

Once you are done with the filing and verification of your I-T returns, you can easily keep track of the refund status.

#FinancialBytes: Applying for PAN? Know these points

22 Jul 2019

#FinancialBytes: Applying for PAN? Know these points

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

#FinancialBytes: What will happen if you miss ITR filing deadline

21 Jul 2019

#FinancialBytes: What will happen if you miss ITR filing deadline

July 31, 2019 is the last date to file Income Tax returns for FY 2018-19.

#FinancialBytes: Step-by-step guide to file ITR-1

19 Jul 2019

#FinancialBytes: Step-by-step guide to file ITR-1

July 31, 2019 is the last date to file Income Tax return for FY 2018-19.

#FinancialBytes: Now, use Aadhaar instead of PAN for these transactions

17 Jul 2019

#FinancialBytes: Now, use Aadhaar instead of PAN for these transactions

Earlier this month, Union Finance Minister Nirmala Sitharaman presented her and the new Central government's first budget.

#FinancialBytes: List of documents needed to file Income Tax returns

16 Jul 2019

#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.

You may be fined Rs. 10,000 for entering wrong Aadhaar

14 Jul 2019

You may be fined Rs. 10,000 for entering wrong Aadhaar

Banks and other institutions will soon make upgrades to allow people to quote India's national biometric ID (Aadhaar) for high-value transactions in place of the permanent account number (PAN).

PAN not linked with Aadhaar? It will soon get deactivated

12 Jul 2019

PAN not linked with Aadhaar? It will soon get deactivated

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

Don't have PAN? Now, use Aadhaar to file Income-Tax returns

08 Jul 2019

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.

Financial Bytes: Five reasons why filing income tax is beneficial

01 Jul 2019

Financial Bytes: Five reasons why filing income tax is beneficial

Filing income tax returns (ITRs) on time every year is very important and individuals having an annual income of Rs. 2.5 lakh or more have to file ITRs mandatorily.

#FinancialBytes: Five ways to verify your Income tax returns

01 Jul 2019

#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: How can salaried individuals save on income tax?

10 Jun 2019

#FinancialBytes: How can salaried individuals save on income tax?

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: How can salaried individuals save on income tax?

05 Jun 2019

#FinancialBytes: How can salaried individuals save on income tax?

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.

All the questions around Aadhaar, answered

31 May 2019

All the questions around Aadhaar, answered

Lately, there has been a lot of confusion about the status of Aadhaar card as a valid document proof.

Applying for PAN card offline? Avoid these mistakes

01 May 2019

Applying for PAN card offline? Avoid these mistakes

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

UMANG app: Services offered, and how to register

21 Apr 2019

UMANG app: Services offered, and how to register

UMANG (Unified Mobile Application for New-age Governance) is a mobile app launched by the government to let users access a wide range of government services, right from their smartphones.

All the questions around Aadhaar, answered

13 Apr 2019

All the questions around Aadhaar, answered

Lately, there has been a lot of confusion about the status of Aadhaar card as a valid document proof.

#FinancialBytes: Here are the changes in Income-tax return (ITR) forms

12 Apr 2019

#FinancialBytes: Here are the changes in Income-tax return (ITR) forms

The new Income tax forms have been released online.

#FinancialBytes: All about Public Provident Fund, its features, tax benefits

09 Apr 2019

#FinancialBytes: All about Public Provident Fund, its features, tax benefits

In India, the Public Provident Fund (PPF) is one of the most preferred long term tax-saving investment options for both salaried as well as non-salaried individuals.

Mismatch in PAN and Income-Tax portal? Here's what to do

09 Apr 2019

Mismatch in PAN and Income-Tax portal? Here's what to do

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

#FinancialBytes: Mistakes to avoid while filing income tax returns (ITRs)

07 Apr 2019

#FinancialBytes: Mistakes to avoid while filing income tax returns (ITRs)

Filing income tax returns (ITRs) on time every year is very important. However, the process of filing income tax returns can be daunting for many individuals.

#FinancialBytes: How to apply for PAN card online

03 Apr 2019

#FinancialBytes: How to apply for PAN card online

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

Deadline to link Aadhaar with PAN extended by six months

01 Apr 2019

Deadline to link Aadhaar with PAN extended by six months

The Central government has extended the deadline to link Aadhaar with PAN by six months, to September 30, 2019. The previous deadline to link the two IDs was March 31.

Haven't linked Aadhaar and PAN yet? Do it now!

29 Mar 2019

Haven't linked Aadhaar and PAN yet? Do it now!

The Income Tax Department has been urging all taxpayers to link their Aadhaar with PAN for a long time now.