[
income tax news
]Latest from income tax
SC rules in favour of revenue on 90,000 Income Tax reassessment notices
The judgment, delivered by a bench led by Chief Justice of India Dhananjaya Y Chandrachud, held that after April 1, 2021, the substituted provisions of the Income Tax Act would apply retrospectively, even for past assessment years.
Updated on Oct 04, 2024 06:50 AM IST
Deadline for income tax audit report extended: What is the last date now?
Income tax audit last date: Deadline to submit the income tax audit report is extended to October 7. Failure to submit may incur a penalty.
Updated on Sep 30, 2024 10:45 AM IST
Mississippi's Republican governor pushes income-tax cut, says critics rely on 'myths'
Mississippi's Republican governor pushes income-tax cut, says critics rely on 'myths'
Published on Sep 25, 2024 04:31 AM IST
AP |
Tax on EPF: How employees provident fund interest and withdrawals are taxed
While EPF gives tax benefits during the contributing phase, there are tax implications when withdrawing it, depending on the employment purpose and duration
Updated on Sep 18, 2024 01:29 PM IST
TCS employee income tax notices a 'discrepancy,' ITRs to be reprocessed: Report
TCS said that the employees who received the income tax notices will get a intimation of rectification soon and don't have to pay any demand amount
Published on Sep 14, 2024 12:59 PM IST
HT News Desk | Edited by Abhyjith K. Ashokan
How long does it take for income tax department to process ITR?
Income tax returns must be processed within nine months of the end of the fiscal year after you file them.
Published on Aug 25, 2024 09:23 PM IST
26% of ITRs are yet to be processed, is yours among them? Find out why
The 20 days it took for the IT department to process more than 70% of ITRs is however, much more than the 11 days it took in 2023
Published on Aug 23, 2024 02:39 PM IST
Got a defective ITR notice from income tax department? Why and how to rectify
Its important to rectify a defective ITR as not doing is treated as not filing at all, necessitating a belated ITR or an updated ITR (ITR-U)
Published on Aug 22, 2024 08:59 PM IST
Gurugram man in Australia gets GST evasion notice, finds shell firm in his name
The notice, sent to Divyrup Singh Mann via email, revealed financial transactions worth over ₹133 crore
Updated on Aug 20, 2024 05:36 AM IST
Debashish Karmakar, Gurugram
ITR refund scam: Income Tax department warns taxpayers of fraud emails, messages
The Income Tax department said taxpayers must verify income tax refund status through the official sources only and double check emails and messages for fraud
Published on Aug 17, 2024 02:29 PM IST
HT News Desk | Edited by Abhyjith K. Ashokan
ITR refund scam: Taxpayers warned by Income Tax department of this new scam
ITR refund scam: The Income Tax Department said that taxpayers must verify any communication from the IT department through official channels.
Updated on Aug 16, 2024 03:29 PM IST
Ludhiana: CBI nabs IT commissioner’s admn officer for graft
The Central Bureau of Investigation (CBI) arrested the administrative officer-cum-public relations officer (PRO) to the chief commissioner income tax (CCIT), Ludhiana, while accepting a bribe of ₹8,000
Published on Aug 07, 2024 10:10 PM IST
HT Correspondent, Ludhiana
How to check ITR refund status online using PAN number on e-filing portal
ITR refund: Tax refund usually takes four to five weeks to be deposited into your account.
Updated on Aug 07, 2024 01:41 PM IST
ITR 2024: Waiting for income tax refund? Tax refund rules to know about
Income tax refund becomes applicable when taxes paid exceed the tax liability, which includes TDS, TCS, as well as advance tax and self-assessment tax
Published on Aug 05, 2024 05:05 PM IST
Did you miss ITR filing July 31 deadline? Penalties you need to pay now
ITR filing July 31 deadline: The Income Tax Department did not extend the deadline and taxpayers who missed the ITR deadline will need to pay penalties.
Updated on Aug 02, 2024 11:09 AM IST
Sikkim's unique tax exemption: Why residents don't have to pay Income Tax
Before joining India, Sikkim had its own tax system and its residents were not subject to the Indian Income Tax Act.
Updated on Jul 31, 2024 03:31 PM IST
ITR filing deadline today. Extension to complete Income Tax Return possible?
If you miss the deadline, you will have the option to file a belated ITR until December 31, 2024 but will be charged a penalty.
Updated on Jul 31, 2024 09:58 AM IST
ITR filing 2024: How can you check income tax refund status online using PAN
ITR filing 2024: In order to check the status of your income tax refund online, you can use your PAN card.
Updated on Jul 30, 2024 01:56 PM IST
Tax practitioners urge CBDT to extend ITR filing deadline to August 31
Landslides in Uttarakhand and Himachal Pradesh have further compounded these difficulties, All-India Federation of Tax Practitioners said.
Updated on Jul 30, 2024 11:07 AM IST
ITR filing last date is July 31. Will income tax return deadline be extended?
ITR filing deadline: The Income Tax Department issued an alert to the public following reports regarding the extension of ITR date.
Updated on Jul 30, 2024 01:33 PM IST
HT News Desk | Edited by Mallika Soni
How to switch to old tax regime from new tax regime for filing income tax
All those with non-business income can chose to alternate between the old tax regime and new tax regime once a year
Published on Jul 29, 2024 06:44 PM IST
Is an Income Tax clearance certificate mandatory to leave India?
The CBDT said Section 230 does not mandate every individual domiciled in India to secure a tax clearance certificate before leaving India.
Updated on Jul 29, 2024 01:27 PM IST
HT News Desk | Edited by Mallika Soni
ITR filing deadline: What happens if you miss filing returns by July 31?
ITR filing deadline: Interest will be charged at the rate of 1% per month or part of the month on the outstanding tax amount from the due date.
Updated on Jul 29, 2024 09:17 AM IST
HT News Desk | Edited by Mallika Soni
ITR deadline approaching, list of documents needed for filing income tax return
The income tax department has said that already over five crore taxpayers have already filed their returns so far
Published on Jul 28, 2024 07:33 PM IST
Big update from I-T dept as income tax return filing (ITR) deadline nears
The income tax department said more than 5 crore I-T returns have been filed on the e-filing portal, an 8 per cent increase over last year.
Updated on Jul 27, 2024 08:43 PM IST
How to correct errors in income tax return using revised ITR, last date, rules
A revised ITR is free and can be done by taxpayers who filed their returns before or even after the deadline
Published on Jul 27, 2024 08:03 PM IST
How to save 100% income tax? Karnataka man’s satirical video is viral
A Karnataka man’s satirical video on how to save 100% on income tax has gone viral online.
Published on Jul 27, 2024 11:38 AM IST
Sanya Jain
ITR deadline extended to August 31? What Income Tax Department said
IT department alerts taxpayers on fake news circulating about ITR deadline and warns about tax refund scams
Updated on Jul 31, 2024 09:42 AM IST
Reforms of new tax regime may reduce tax burden and allow option to choose again
Finance Minister Nirmala Sitharaman proposed changes to the tax slabs of the new tax regime in her Union Budget 2024 speech.
Published on Jul 24, 2024 04:44 PM IST
Income tax benefits, capital gains tax hike, cheaper phones | Budget takeaways
The government increased the standard deduction from ₹50,000 to ₹75,000, providing tax relief to millions of taxpayers
Updated on Jul 24, 2024 05:26 AM IST