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income tax

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The first deadline for filing the returns was July 31, which was extended to November 30, which again got extended to December 30 and then January 10.

ITR filing last date January 10, over 1.2 lakh returns filed in an hour

By hindustantimes.com | Edited by Poulomi Ghosh
UPDATED ON JAN 09, 2021 03:29 PM IST
On Saturday till 12 noon 3,30142 returns were filed and out of them, 1,22,951 were filed in an hour.
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The tax department is also questioning some employees of Swiggy for suspected tax evasion by one of its vendors.(REUTERS)
The tax department is also questioning some employees of Swiggy for suspected tax evasion by one of its vendors.(REUTERS)

Flipkart, Swiggy face tax survey

By Tarush Bhalla and Gireesh Chandra Prasad | Hindustan Times, Bengaluru/New Delhi
UPDATED ON JAN 08, 2021 12:00 AM IST
The tax department is also questioning some employees of Swiggy for suspected tax evasion by one of its vendors.
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Traders and retailers, who have been going through a tough time in the wake of the Covid-19 pandemic, contribute about 22% to the country’s GDP and provides employment to lakhs of people, Federation of All India Vyapar Mandal (FAIVM) claimed in its budget proposal to the Union Finance Minister Nirmala Sitharaman.(ANI)
Traders and retailers, who have been going through a tough time in the wake of the Covid-19 pandemic, contribute about 22% to the country’s GDP and provides employment to lakhs of people, Federation of All India Vyapar Mandal (FAIVM) claimed in its budget proposal to the Union Finance Minister Nirmala Sitharaman.(ANI)

Traders’ body urges govt to lower income tax on partnership firms

By Press Trust of India | Posted by Nilavro Ghosh | Kolkata
PUBLISHED ON JAN 05, 2021 02:35 PM IST
The traders’ body also claimed that the online retailers have experienced a surge in their revenue and reported sales of $4.1 billion in a week of October 2020 during the festive season.
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According to the I-T department, the Jhatpat Processing feature will help individuals file their tax returns seamlessly.(Mint Photo)
According to the I-T department, the Jhatpat Processing feature will help individuals file their tax returns seamlessly.(Mint Photo)

Income tax return: Here’s how ‘Jhatpat Processing’ will help you file your return

By hindustantimes.com | Edited by Meenakshi Ray
PUBLISHED ON DEC 29, 2020 03:10 PM IST
The last date for filing income tax for taxpayers, who do not require an audit, is December 31, 2020, and the date for those who need audit is January 31, 2021.
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The deadline to file ITR by individual taxpayers for FY2019-20 ends on December 31, 2020, while the same for taxpayers whose accounts require to be audited is January 31, 2021. Representational image.(Getty Images/iStockphoto)
The deadline to file ITR by individual taxpayers for FY2019-20 ends on December 31, 2020, while the same for taxpayers whose accounts require to be audited is January 31, 2021. Representational image.(Getty Images/iStockphoto)

Over 4.15 crore ITRs for fiscal year 2019-20 filed till December 26

By Press Trust of India | Posted by Srivatsan K C | New Delhi
PUBLISHED ON DEC 27, 2020 07:18 PM IST
As the deadline to file ITR by individuals nears, the tax department also urged people to file their ITR for assessment year (AY) 2020-21 early to avoid last minute rush.
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Prime Minister Narendra Modi addresses the nation during Independence Day celebrations at the historic Red Fort in Delhi. As per the PM CARES website, ₹3,076.62 crores were collected by the fund in 2019-20.(REUTERS)
Prime Minister Narendra Modi addresses the nation during Independence Day celebrations at the historic Red Fort in Delhi. As per the PM CARES website, ₹3,076.62 crores were collected by the fund in 2019-20.(REUTERS)

PM Cares ‘owned, controlled and established’ by govt, says Centre

By Deeksha Bhardwaj | Hindustan Times, New Delhi
UPDATED ON DEC 26, 2020 04:50 AM IST
In an earlier reply, the government had said the fund was not owned, controlled or “substantially financed by any government”.
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This is the right time to plan your tax-saving investments so that you can stay relaxed instead of postponing it till the deadline.(File photo)
This is the right time to plan your tax-saving investments so that you can stay relaxed instead of postponing it till the deadline.(File photo)

Invest in ELSS to save Income Tax

By Brand Solutions, hindustantimes.com | Hindustan Times, New Delhi
UPDATED ON DEC 22, 2020 05:38 PM IST
This article is part of the HT Friday Finance series published in association with Aditya Birla Sun Life Mutual Fund
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The office of chief commissioner of the Income Tax department in Dehradun is seen in this file photo.(Mint Photo)
The office of chief commissioner of the Income Tax department in Dehradun is seen in this file photo.(Mint Photo)

If you have withdrawn from PF fund, you will have to show in ITR

By hindustantimes.com | Edited by Meenakshi Ray | Hindustan Times, New Delhi
UPDATED ON NOV 30, 2020 03:37 PM IST
Experts have said information about the withdrawal from the PF account will have to be furnished in your income tax return form even if the amount withdrawn is outside the purview of income tax.
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One can now buy a house at a rate 20% lower than the one arrived at according to the circle rate(Bloomberg)
One can now buy a house at a rate 20% lower than the one arrived at according to the circle rate(Bloomberg)

You can now buy houses at 20% below circle rate: All you need to know

By hindustantimes.com | Edited by Prashasti Singh | Hindustan Times, New Delhi
UPDATED ON NOV 13, 2020 02:46 PM IST
Circle rate is the minimum rate of property set by the authorities for a particular area.
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Control inflating food prices: Himachal CPI (M)

By HT Correspondent | Hindustan Times/Shimla, Shimla
UPDATED ON NOV 01, 2020 11:40 PM IST
CPI (M) has also demanded that the government provide 7,500 per month and 10 kg ration per person free of charge to all those outside the purview of income tax
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The Central Board of Direct Taxes has extended the due date for filing of the ITR for the Assessment Year 2020-21 to 31-12-2020 for non-audit cases.
The Central Board of Direct Taxes has extended the due date for filing of the ITR for the Assessment Year 2020-21 to 31-12-2020 for non-audit cases.

Taxpayers may have to pay interests on outstanding income tax exceeding Rs 1 lakh

By Rajeev Jayaswal | Edited by Sparshita Saxena | Hindustan Times, New Delhi
UPDATED ON OCT 26, 2020 06:43 PM IST
The government on Saturday extended deadlines for furnishing various ITRs and audit reports as a relief to taxpayers from Covid-19 pandemic, but there is no clarification on the aspect of interest waiver.
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In a relief to small and middle-class taxpayers in the matter of payment of self-assessment tax, the due dates for payment have been extended.(HT Photo)
In a relief to small and middle-class taxpayers in the matter of payment of self-assessment tax, the due dates for payment have been extended.(HT Photo)

Centre extends the deadline to file tax returns to Dec 31

By Press Trust of India | Hindustan Times, New Delhi, New Delhi
PUBLISHED ON OCT 25, 2020 12:57 AM IST
The government had earlier in May extended various due dates for filing ITRs for FY 2019-20 from July 31 to November 30, to give compliance relief to taxpayers due to the Covid-19 pandemic.
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All presidents except Trump have publicly released their taxes since the presidency of Richard Nixon.(AFP)
All presidents except Trump have publicly released their taxes since the presidency of Richard Nixon.(AFP)

Donald Trump won’t say when he’ll make taxes public

By Associated Press| Posted by Susmita Pakrasi | Washington
PUBLISHED ON SEP 30, 2020 08:28 AM IST
During the first presidential debate Tuesday, Trump was asked specifically about a report in The New York Times that revealed he paid only $750 in personal income taxes each o
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US president Donald Trump points his finger as he participates in the first 2020 presidential campaign debate with Democratic presidential nominee Joe Biden.(Reuters Photo)
US president Donald Trump points his finger as he participates in the first 2020 presidential campaign debate with Democratic presidential nominee Joe Biden.(Reuters Photo)

Paid millions: Trump after report claims he paid $750 in taxes for 2016, 2017

By hindustantimes.com | Edited by Kanisha Sarkar | Hindustan Times, New Delhi
UPDATED ON SEP 30, 2020 08:14 AM IST
During the first presidential debate ahead of US elections slated for November 3, moderator Christopher W Wallace asked Trump, “Is it true that you paid $750 in federal income taxes in 2016 and 2017?”
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Joe Biden said that Trump and Barrett want to strike down the Affordable Care Act, costing 20 million people their health insurance.(AP)
Joe Biden said that Trump and Barrett want to strike down the Affordable Care Act, costing 20 million people their health insurance.(AP)

Trump, Biden spar over Barrett nomination as first debate opens

By Bloomberg| Posted by Susmita Pakrasi | Bloomberg
PUBLISHED ON SEP 30, 2020 07:14 AM IST
The difference between the two candidates’ tax history is fodder for Biden’s argument that Trump has conned working-class voters into supporting him.
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Kamala Harris is set to debate Vice President Mike Pence next week.(AP)
Kamala Harris is set to debate Vice President Mike Pence next week.(AP)

Kamala Harris previews Joe Biden’s focus for debate

By Associated Press| Posted by Susmita Pakrasi | Washington
UPDATED ON SEP 30, 2020 06:57 AM IST
The Democratic California senator said Tuesday during a digital fundraiser with artists that “Joe’s goal in the debate is to communicate directly with the American people.”
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US Democratic presidential candidate and former Vice President Joe Biden delivers a speech at the Queen Theater in Wilmington, Delaware on September 27, 2020.(Reuters File Photo)
US Democratic presidential candidate and former Vice President Joe Biden delivers a speech at the Queen Theater in Wilmington, Delaware on September 27, 2020.(Reuters File Photo)

Joe Biden releases latest tax returns hours before Donald Trump debate

By Agence France-Presse | Posted by Kanishka Sarkar | Washington
UPDATED ON SEP 29, 2020 11:54 PM IST
Joe Biden and his wife Jill paid $299,346 in federal income taxes for 2019, according to forms filed with the Internal Revenue Service and released by Biden’s campaign.
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Finance minister Nirmala Sitharaman during the fifth and final briefing on Centre’s economic stimulus package on May 17, 2020.(Sonu Mehta/HT Photo)
Finance minister Nirmala Sitharaman during the fifth and final briefing on Centre’s economic stimulus package on May 17, 2020.(Sonu Mehta/HT Photo)

Open to one more stimulus if necessary: Nirmala Sitharaman

By R Sukumar | Hindustan Times, New Delhi
UPDATED ON SEP 29, 2020 03:12 AM IST
Finance minister Nirmala Sitharaman said some industries have told her that domestic demand is increasing and they are also seeing export orders increasing faster than their expectations.
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India is trying to prevent Chinese firms from accessing data not only to protect citizen’s privacy but also to address potential security risks.(Getty Images/iStockphoto(Representative Image))
India is trying to prevent Chinese firms from accessing data not only to protect citizen’s privacy but also to address potential security risks.(Getty Images/iStockphoto(Representative Image))

Govt scans fintechs for China links

By Shayan Ghosh and Deborshi Chaki | Hindustan Times, Mumbai
UPDATED ON SEP 22, 2020 05:08 AM IST
The scrutiny on fintech firms comes after India banned 177 Chinese apps. The moves are part of India’s plan to decouple the economy from China after border clashes in June killed 20 Indian soldiers.
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The government has emphasised on providing tax related services to taxpayers without any hassles during the Covid-19 pandemic, and accordingly has been clearing up pending tax refunds.
The government has emphasised on providing tax related services to taxpayers without any hassles during the Covid-19 pandemic, and accordingly has been clearing up pending tax refunds.

I-T Dept issues refunds worth Rs 1.01 lakh crore to 27.55 lakh taxpayers till September 8

By Press Trust of India| Posted by Susmita Pakrasi | New Delhi
PUBLISHED ON SEP 09, 2020 06:05 PM IST
This include personal income tax (PIT) refunds amounting to Rs 30,768 crore issued to 25.83 lakh taxpayers and corporate tax refunds amounting to Rs 70,540 crore issued to over 1.71 lakh taxpayers during this period.
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The key to widening India’s income tax base is in keeping the exemption threshold unchanged over many years, not in harassing the 3% of working Indians that fall within the tax ambit(ARVIND YADAV/HTPHOTO)
The key to widening India’s income tax base is in keeping the exemption threshold unchanged over many years, not in harassing the 3% of working Indians that fall within the tax ambit(ARVIND YADAV/HTPHOTO)

The myth of India’s low income tax base

By Praveen Chakravarty
UPDATED ON SEP 02, 2020 12:56 PM IST
Given India’s GDP and per capita income data, and the tax threshold, its taxpayer base is right
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The Central Board of Direct Taxes (CBDT) is the apex decision-making body in direct tax matters, administers personal income tax and corporate tax.
The Central Board of Direct Taxes (CBDT) is the apex decision-making body in direct tax matters, administers personal income tax and corporate tax.

Income Tax refunds worth Rs 88,652 crore issued to 24.64 lakh taxpayers so far this fiscal

By Press Trust of India| Posted by Susmita Pakrasi | New Delhi
PUBLISHED ON AUG 21, 2020 11:55 AM IST
This include personal income tax (PIT) refunds amounting to Rs 28,180 crore issued to over 23.05 lakh taxpayers and corporate tax refunds amounting to Rs 60,472 crore to over 1.58 lakh taxpayers during this period.
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Finance Minister Nirmala Sitharaman.(HT photo)
Finance Minister Nirmala Sitharaman.(HT photo)

FM Sitharaman meets I-T officers, thanks them on faceless assessment launch

By Press Trust of India | Posted by Shivani Kumar
UPDATED ON AUG 14, 2020 10:49 PM IST
The minister exhorted them to work with the same zeal and dedication to make faceless appeal system an equal success.
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Narendra Modi’s appeal comes in the context of Covid-19, which has entailed a ₹Rs 20 lakh crore economic stimulus and relief package(PTI)
Narendra Modi’s appeal comes in the context of Covid-19, which has entailed a ₹Rs 20 lakh crore economic stimulus and relief package(PTI)

PM Modi launches first taxpayers’ charter

By Rajeev Jayaswal | Hindustan Times, New Delhi, New Delhi
PUBLISHED ON AUG 14, 2020 01:42 AM IST
Taxation reforms in the last six years have been centred on three concepts—seamless, painless and faceless —that have reduced complexities, cut tax rates and litigation, Modi said. He also called for introspection by citizens on the small pool of taxpayers.
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In March, the due date was extended from March 31 to June 30.(Mint file photo)
In March, the due date was extended from March 31 to June 30.(Mint file photo)

Govt extends income tax return filing deadline till September 30 for FY’19

By Press Trust of India | Posted by Shivani Kumar
UPDATED ON JUL 30, 2020 12:19 AM IST
This is the third extension given by the government for taxpayers to file both original and revised tax returns for 2018-19 fiscal.
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Experts said taxpayers need to be very careful because discrepancies in information or documents provided by them could attract scrutiny by multiple agencies.(Pradeep Gaur/Mint Archives)
Experts said taxpayers need to be very careful because discrepancies in information or documents provided by them could attract scrutiny by multiple agencies.(Pradeep Gaur/Mint Archives)

Not just tax officials, 4 intel, investigating agencies get access to your I-T records

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON JUL 24, 2020 06:19 AM IST
Experts said taxpayers need to be very careful because discrepancies in information or documents provided by them could attract scrutiny by multiple agencies.
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Under the e-campaign, the department will send emails and SMSes to identified taxpayers to verify their financial transactions that taxmen have received from various sources, it said.(Photo:Pradeep Gaur/Mint)
Under the e-campaign, the department will send emails and SMSes to identified taxpayers to verify their financial transactions that taxmen have received from various sources, it said.(Photo:Pradeep Gaur/Mint)

I-T dept to begin voluntary tax compliance e-campaign from Monday

By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON JUL 18, 2020 08:11 PM IST
The objective of the e-campaign is to facilitate taxpayers to online validate their returns or financial transaction information available with the I-T department and promote voluntary compliance.
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Income tax returns filed by these exporters are being verified.(Representative Photo)
Income tax returns filed by these exporters are being verified.(Representative Photo)

Govt identifies 1,377 risky exporters, fraudulent IGST claims worth nearly Rs 2,000 cr

By hindustantimes.com | Edited by: Amit Chaturvedi | Hindustan Times, New Delhi
UPDATED ON JUL 17, 2020 01:01 PM IST
This number also includes seven ‘star’ exporters, people aware of the development said. They further said that these people are untraceable.
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The CBDT order provides a good opportunity to them for regularising the past ITRs and not only solve the issue of past non-compliance but also receive past pending refunds stuck due to this procedural lapse, said an income tax professional.(Livemint / File Photo)
The CBDT order provides a good opportunity to them for regularising the past ITRs and not only solve the issue of past non-compliance but also receive past pending refunds stuck due to this procedural lapse, said an income tax professional.(Livemint / File Photo)

I-T dept asks taxpayers to verify ITRs for AYs 2015-16 to 2019-20 by Sep 30

By Press Trust of India | Posted by Anubha Rohatgi | New Delhi
UPDATED ON JUL 13, 2020 09:28 PM IST
The Central Board of Direct Taxes said that a large number of electronically filed ITRs still remain pending with the I-T Department for want of receipt of a valid ITR-V (Verification) form at Centralised Processing Centre (CPC), Bengaluru from the taxpayers concerned.
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Tax department organised special camp for government employee to help file their Income Tax Returns (ITRs).(Livemint File)
Tax department organised special camp for government employee to help file their Income Tax Returns (ITRs).(Livemint File)

I-T dept amends TDS form, mandates deductors to give reasons for non-deduction of tax

By Press Trust of India | Posted by Anubha Rohatgi | New Delhi
UPDATED ON JUL 05, 2020 04:04 PM IST
The revised forms and rules also seek to incorporate reporting for new sections of TDS inserted in the Income Tax Act, such as Section 194N for cash withdrawals, Section 197A permitting non-deduction of TDS in various situations, among others.
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