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Xiaomi, Oppo may face 1k cr fine for tax violation: I-T dept

The IT department had carried out a pan-India search and seizure operations on December 21 in the case of certain foreign-controlled mobile communication and mobile handset manufacturing companies.
The Income Tax department (File Photo)
The Income Tax department (File Photo)
Updated on Jan 01, 2022 04:44 AM IST
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4.86 crore income tax returns filed till Dec 28, 18.89 lakh in single day

The deadline to file tax returns has already been extended several times over the course of the past year due to technical glitches on the new income tax portal and the coronavirus pandemic. It was initially set on July 31, but moved to September 30, and then finally to December 31 by the Centre.
The income tax department has been regularly sharing data ahead of the December 31 deadline to file returns.(Representational Photo/MINT)
The income tax department has been regularly sharing data ahead of the December 31 deadline to file returns.(Representational Photo/MINT)
Published on Dec 29, 2021 06:41 PM IST
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By, Hindustan Times, New Delhi

Over 4.67 crore ITRs filed so far, 15.49 lakh alone in single day

  • The last date for filing ITRs for 2020-21 fiscal ended March 31, 2021, by individual taxpayers is December 31, extended from the original date of July 31, 2021.
For 2019-20 fiscal, 5.95 crore ITRs were filed till the extended deadline of January 10, 2021.(Representational Photo/MINT)
For 2019-20 fiscal, 5.95 crore ITRs were filed till the extended deadline of January 10, 2021.(Representational Photo/MINT)
Updated on Dec 28, 2021 03:28 PM IST
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PTI | | Posted by Sharangee Dutta, Hindustan Times, New Delhi

I-T recovers record 150 crore cash from UP businessman

This was the biggest cash recovery in the history of the CBIC and no arrest was made in the case thus far.
I-T sleuths during the raid at businessman Piyush Jain's residence, in Kanpur on Friday. (ANI)
I-T sleuths during the raid at businessman Piyush Jain's residence, in Kanpur on Friday. (ANI)
Updated on Dec 25, 2021 03:28 AM IST
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By, Hindustan Times, Kanpur

ITR deadline: Check detained steps to file IT returns using new e-filing portal

  • This year, in a bid to make filing ITRs easy and more taxpayer-friendly, the government launched an e-filing portal, using which one can file their ITRs online.
All taxpayers need to file their income tax return (ITR) filing by December 31, 2021.(Representative Image)
All taxpayers need to file their income tax return (ITR) filing by December 31, 2021.(Representative Image)
Published on Dec 06, 2021 11:46 PM IST
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By, Hindustan Times, New Delhi

Filing returns using pre-filled ITR forms? Make sure to claim these deductions

According to tax experts, there are four tax deductions that a taxpayer may miss out while filing returns using the pre-filled ITR forms.
Representative Image
Representative Image
Published on Nov 26, 2021 11:59 AM IST
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By, New Delhi

Technical issues over Income tax e-filing portal being ‘progressively addressed’

According to a statement issued by the Ministry, more than 8.83 crore unique taxpayers have logged in till Tuesday with a daily average of over 15.55 lakh in September.
Over 94.88 lakh ITRs have been e-verified out of which, 7.07 lakh ITRs have been processed. In picture - Union finance minister Nirmala Sitharaman.
Over 94.88 lakh ITRs have been e-verified out of which, 7.07 lakh ITRs have been processed. In picture - Union finance minister Nirmala Sitharaman.
Published on Sep 09, 2021 01:29 AM IST
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ANI | , New Delhi

Centre tweaks Income Tax rules to ease authentication of electronic records 

  • As per the amendment, all a person needs to do now to get their electronic record authenticated is to submit an electronic record by logging into their registered account in the designated portal of the Income-Tax Department.
This facility has not been made available for companies, tax audit cases among others, who will need to authenticate their electronic records with a digital signature.
This facility has not been made available for companies, tax audit cases among others, who will need to authenticate their electronic records with a digital signature.
Published on Sep 07, 2021 07:22 PM IST
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By | Written by Ayshee Bhaduri | Edited by Avik Roy, Hindustan Times, New Delhi

Income Tax dept launches dedicated emails for taxpayers’ grievances

Meeting the objectives of the taxpayers’ charter, the I-T department has adopted technology-driven faceless schemes to make tax administration transparent and to end overreach by officials.
The faceless appeal was launched by the government on September 25, 2020 to eliminate discretionary powers of the taxman, curb corrupt practices and provide ease of compliance to taxpayers. (AP Photo/Representative use)
The faceless appeal was launched by the government on September 25, 2020 to eliminate discretionary powers of the taxman, curb corrupt practices and provide ease of compliance to taxpayers. (AP Photo/Representative use)
Updated on Aug 08, 2021 03:47 AM IST
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By, Hindustan Times, New Delhi

Govt measures helped detect several crores of undisclosed income, Lok Sabha told

At least 107 people have been prosecuted so far under the black money Act since it came into force in July 2015.
As many as 173 complaints of undisclosed assets were filed in courts in 2020-21 alone, of which 16 conviction orders have been passed. (Representational photo)
As many as 173 complaints of undisclosed assets were filed in courts in 2020-21 alone, of which 16 conviction orders have been passed. (Representational photo)
Updated on Jul 26, 2021 11:58 PM IST
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By | Written by Avik Roy, New Delhi

‘Finance ministry, Infosys resolving glitches’: Anurag Thakur on new tax portal

  • Thakur said that Union minister for finance Nirmala Sitharaman held a meeting with the officials of Infosys where she told them to repair the glitches with the new IT portal as soon as possible.
Thakur’s response comes after Congress leader Shashi Tharoor said that the government failed to achieve the objective of giving citizens a new income tax portal even after spending <span class='webrupee'>₹</span>4,200 crore.(ANI Photo)
Thakur’s response comes after Congress leader Shashi Tharoor said that the government failed to achieve the objective of giving citizens a new income tax portal even after spending 4,200 crore.(ANI Photo)
Published on Jul 06, 2021 04:00 PM IST
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By | Written by Shankhyaneel Sarkar | Edited by Avik Roy, Hindustan Times, New Delhi

Govt announces tax reliefs under IT act. Here's what you need to know

Income-tax exemption was announced on the amount received by a taxpayer for treatment of Covid-19 from their employer or any other person during the financial year 2019-20 and subsequent years, a release issued by the Union ministry of finance said.
I-T Act: The government has granted further extension in timelines of compliances.(Representative Photo)
I-T Act: The government has granted further extension in timelines of compliances.(Representative Photo)
Updated on Jun 26, 2021 11:12 AM IST
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Written by Prashasti Singh | Edited by Meenakshi Ray, New Delhi, Hindustan Times

Covid-19 treatment, financial aid after death made tax free

An individual will not have to pay any income tax on financial aid received from an employer or others for the treatment of Covid-19.
The government has also said that both the measures are applicable for FY20 and subsequent years. (Representative image)
The government has also said that both the measures are applicable for FY20 and subsequent years. (Representative image)
Published on Jun 26, 2021 06:12 AM IST
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By | Written by Meenakshi Ray

Sitharaman meets Infosys officials, reviews tech glitches on I-T e-filing portal

Infosys is the vendor which developed the new I-T e-filing portal.
Union finance minister Nirmala Sitharaman
Union finance minister Nirmala Sitharaman
Published on Jun 22, 2021 10:03 PM IST
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Written by Prashasti Singh | Edited by Avik Roy, Hindustan Times, New Delhi

FinMin calls for written representations on glitches with new Income Tax portal

“Written representations are invited regarding the issues/glitches on the new Income Tax Portal on the email address fmo@nic.in latest by 7 PM on Friday, June 18, 2021," Nirmala Sitharaman's office tweeted.
"Hope @Infosys & @NandanNilekani will not let down our taxpayers in the quality of service being provided. Ease in compliance for the taxpayer should be our priority," Union finance minister Nirmala Sitharaman had tweeted on June 8.(ANI)
Updated on Jun 16, 2021 09:28 PM IST
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By | Written by Srivatsan K C, Hindustan Times, New Delhi

Centre extends tax-related compliance dates in view of Covid-19. Check details

The government said that it has eased compliances to be made by the taxpayers and to mitigate the difficulties faced by various stakeholders in these difficult times marked by the coronavirus disease (Covid-19) pandemic.
Under the provisions of section 119 of the Income Tax (I-T) Act, 1961, the Central Board of Direct Taxes (CBDT) has eased compliances. (Representational Image)
Under the provisions of section 119 of the Income Tax (I-T) Act, 1961, the Central Board of Direct Taxes (CBDT) has eased compliances. (Representational Image)
Published on May 01, 2021 02:11 PM IST
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Centre notifies new Income Tax forms to file returns for AY 2021-22

On Wednesday, another major relief that the Centre gave to taxpayers in the view of the Covid-19 pandemic was the extension of the deadline to link Aadhaar card with the Permanent Account Number (PAN). The deadline has now been extended to June 30 from March 31.
According to a statement, no ‘significant’ changes have been made to the new ITR forms in comparison with the previous year’s ones due to the Covid-19 pandemic. (Representative Image)
According to a statement, no ‘significant’ changes have been made to the new ITR forms in comparison with the previous year’s ones due to the Covid-19 pandemic. (Representative Image)
Published on Apr 01, 2021 09:46 PM IST
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By | Written by Harshit Sabarwal, New Delhi

CAG could get more access to taxpayers’ data

  • The issue is before the GST Council, which is expected to take a view on this matter soon.
CAG has been requesting for unrestricted access to GST-related data of all taxpayers from the GST Network (GSTN) servers for the purpose of audit, citing its constitutional and legal requirements.( AFP)
CAG has been requesting for unrestricted access to GST-related data of all taxpayers from the GST Network (GSTN) servers for the purpose of audit, citing its constitutional and legal requirements.( AFP)
Published on Mar 18, 2021 04:52 AM IST
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ByRajeev Jayaswal, Hindustan Times, New Delhi

Last date to file advance income tax today. Details here

  • A failure to pay advance tax on time could lead to a penalty on taxes under section 234B and 234C of the Income Tax act.
According to the income tax law, taxpayers are required to pay estimated tax in instalments of 15 per cent, 45 per cent, 75 per cent and 100 per cent, on or before June 15, September 15, December 15 and March 15, respectively.(Representative Image)
According to the income tax law, taxpayers are required to pay estimated tax in instalments of 15 per cent, 45 per cent, 75 per cent and 100 per cent, on or before June 15, September 15, December 15 and March 15, respectively.(Representative Image)
Published on Mar 15, 2021 12:02 PM IST
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By | Edited by Mallika Soni

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

On Saturday till 12 noon 3,30142 returns were filed and out of them, 1,22,951 were filed in an hour.
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.
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.
Updated on Jan 09, 2021 03:29 PM IST
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Byhindustantimes.com | Edited by Poulomi Ghosh

Flipkart, Swiggy face tax survey

The tax department is also questioning some employees of Swiggy for suspected tax evasion by one of its vendors.
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)
Updated on Jan 08, 2021 12:00 AM IST
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Hindustan Times, Bengaluru/New Delhi | ByTarush Bhalla and Gireesh Chandra Prasad

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

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.
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)
Published on Jan 05, 2021 02:35 PM IST
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Kolkata | ByPress Trust of India | Posted by Nilavro Ghosh

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

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.
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)
Published on Dec 29, 2020 03:10 PM IST
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Byhindustantimes.com | Edited by Meenakshi Ray

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

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.
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)
Published on Dec 27, 2020 07:18 PM IST
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New Delhi | ByPress Trust of India | Posted by Srivatsan K C

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

In an earlier reply, the government had said the fund was not owned, controlled or “substantially financed by any government”.
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)
Updated on Dec 26, 2020 04:50 AM IST
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Hindustan Times, New Delhi | ByDeeksha Bhardwaj

Invest in ELSS to save Income Tax

This article is part of the HT Friday Finance series published in association with Aditya Birla Sun Life Mutual Fund
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)
Updated on Dec 22, 2020 05:38 PM IST
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Hindustan Times, New Delhi | ByBrand Solutions, hindustantimes.com

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

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.
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)
Updated on Nov 30, 2020 03:37 PM IST
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Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Meenakshi Ray

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

Circle rate is the minimum rate of property set by the authorities for a particular area.
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)
Updated on Nov 13, 2020 02:46 PM IST
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Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Prashasti Singh

Control inflating food prices: Himachal CPI (M)

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
Updated on Nov 01, 2020 11:40 PM IST
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Hindustan Times/Shimla | By, Shimla

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

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.
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.
Updated on Oct 26, 2020 06:43 PM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal | Edited by Sparshita Saxena
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