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January 23, 2023, Monday
Avoid higher TDS with timely, accurate submission of investment proof
For investments made after proof has been submitted to the employer, claim refund in ITR
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January 17, 2023, Tuesday
Capital gains: Investment cut-off date extended, but there's a catch
Taxpayers may not be able to avail of it unless last date for filing revised ITR is extended
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December 28, 2022, Wednesday
Income tax exemption might be extended to Rs 5 lakh in budget, say sources
The government is likely to enhance the income tax exemption limit to Rs 5 lakh from the existing Rs 2.5 lakh in the forthcoming ...
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December 22, 2022, Thursday
File revised income-tax return to correct errors in original ITR by Dec 31
Any refund you are eligible for won't be processed unless you correct the mistakes in your return
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December 08, 2022, Thursday
Capital gains tax: A capital conundrum
Defenders of preferential tax treatment argue that capital gains tax is a form of "double taxation" as corporate profits are ...
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November 24, 2022, Thursday
Tax collections to cross budget estimates in current fiscal, says govt
Revenue Secretary Tarun Bajaj was quoted as saying that the growth in tax revenues will continue to be higher than the GDP ...
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November 14, 2022, Monday
Laid off? Seek advice before claiming tax exemption on severance pay
You can claim only if the payout is voluntary and you have documentary proof to this effect
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November 02, 2022, Wednesday
Presumptive tax scheme can reduce compliance burden, return filing
Simplifies ITR filing, but can be taxing if actual income is below 8% of turnover
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October 28, 2022, Friday
CBDT extends last date for filing TDS for non-salaried individuals
Form 26Q contains details of the total amount paid and the tax deducted on transactions other than the salary in a quarter
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September 27, 2022, Tuesday
Check ITR for discrepancies before responding to notice from tax dept
Respond on time, with expert help if required, to prevent further punitive measures
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September 05, 2022, Monday
Does your tax liability for year exceed Rs 10,000? Pay advance tax
While NRIs are liable to pay advance tax, senior citizens with pension and interest income are exempted
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January 20, 2023, Friday
Budget 2023: Salaried class wants higher tax-free slab as inflation bites
From a tax-free slab of Rs 5 lakh to a higher exemption limit under Section 80C, here is what experts are hoping for in Budget ...
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January 04, 2023, Wednesday
The deadline to file updated income tax returns is March 31, 2023
It may entail a higher tax at this stage, however, the taxpayer avoids the risk of paying a penalty
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December 24, 2022, Saturday
PAN not linked with Aadhaar by end of March 2023 to be rendered inoperative
The Income Tax department Saturday issued an advisory that those permanent account numbers (PAN) which are not linked with ...
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December 13, 2022, Tuesday
CBDT exempts NR taxpayers from mandatory Form 10F e-filing for now
The form 10F is signed physically by the Non resident taxpayers and furnished along with the tax residency certificate to the ...
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November 24, 2022, Thursday
About Rs 400 cr tax deposited by filing 500,000 updated ITRs so far
The recently introduced provision of allowing taxpayers to update their tax returns has seen as many as 5 lakh re-filings with ...
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November 16, 2022, Wednesday
Over 68.5 mn I-T returns filed for FY22 so far, count expected to rise
Over 6.85 crore income tax returns have been filed so far for fiscal 2021-22 and the number is expected to go up further by ...
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November 08, 2022, Tuesday
Trip that includes a foreign leg is not eligible for LTC, say experts
This condition is not satisfied merely by the trip starting and ending in India
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November 02, 2022, Wednesday
Common ITR form will make tax-filing easier, reduce time taken, say experts
Its success, however, will hinge on the quality of online utilities launched along with it
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October 04, 2022, Tuesday
Apply for re-computation of income under Rule 132 to avoid tax penalty
Those with income from business or profession, who have availed deduction on cess/surcharge, must do so by March 31
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September 07, 2022, Wednesday
Address cause of tax refund failure, then request reissuance: Experts
Failure to verify return, incorrect bank address are key reasons for not receiving timely refund
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