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Income Tax News

PAGE 15

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

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.

Updated on Jul 13, 2020, 9:28 PM IST

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

Tax department organised special camp for government employee to help file their Income Tax Returns (ITRs).

Updated on Jul 5, 2020, 4:04 PM IST

Last date for filing income tax returns extended to November 30

The date for making various investments for claiming deductions has also been extended to July 31, 2020.

Published on Jul 5, 2020, 6:41 AM IST

ITR filing deadline for FY 2019-20 extended till November 30

File photo: People stand in queue to file their IT returns outside Income Tax office at BKC, Bandra in Mumbai.

Updated on Jul 4, 2020, 12:23 PM IST

Bombay HC asks I-T dept to refund Rs 833 crore to Vodafone Idea within two weeks

Updated on Jul 1, 2020, 7:37 PM IST

Employees allowed to claim I-T exemption on conveyance allowance under new tax regime: CBDT

Those earning between <span class='webrupee'>₹</span>10 and 12.5 lakh will pay tax at the rate of 20 per cent, while those between <span class='webrupee'>₹</span>12.5 and <span class='webrupee'>₹</span>15 lakh will pay at the rate of 25 per cent. Income above <span class='webrupee'>₹</span>15 lakh will be taxed at 30 per cent.

Updated on Jun 27, 2020, 10:59 PM IST

Covid-19 update: UK deaths cross 36,000, including 695 Indians

There are indications that some flights will operate from early June to selected holiday destinations within the UK and Europe as part of plans to gradually reopen the economy while maintaining social distancing and other curbs.

Published on May 21, 2020, 7:48 PM IST

TDS, TCS reduced by 25%. Here is how it will work in 7 FAQs

Nirmala Sitharaman, India's finance minister, wears a protective face mask as she speaks during a news conference in New Delhi.

Updated on May 14, 2020, 1:51 AM IST

Due date for all income tax returns extended to November 30: FM Nirmala Sitharaman

Due date for all income tax returns extended to November 30, 2020.

Updated on May 13, 2020, 5:58 PM IST

Sitharaman announces boost to MSMEs; EPF support to workers, businesses: 10 points

Union finance minister Nirmala Sitharaman briefs the media on economic package in New Delhi on Wednesday.

Updated on May 13, 2020, 7:39 PM IST

IRS officers pitch 40% tax rate plus Covid relief cess, under probe

The two officials, who both requested anonymity, said the government had “summarily” dismissed the suggestions which it judged as ill-conceived.

Updated on Apr 27, 2020, 12:27 AM IST

Covid-19: After extending deadline to file income tax return, govt revises Sahaj, Sugam forms

Giving respite to tax payers, various statutory deadlines related to income tax which were ending on March 31, were extended till 30 June last month.

Updated on Apr 19, 2020, 3:11 PM IST

Covid-19: Govt to issue all pending income tax refunds up to Rs 5 lakh

The government has already granted income tax refunds worth Rs 18,000 crore

Updated on Apr 8, 2020, 7:06 PM IST

Centre aims to make India 3rd largest economy by 2025: Anurag Thakur

Minister of state for finance and corporate affairs Anurag Thakur addressing mediapersons at CII’s northern region headquarters in Sector 31, Chandigarh, on Sunday.

Published on Mar 2, 2020, 12:28 AM IST

‘No time frame set by govt to remove all income tax exemptions’: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman addresses a press conference on Budget 2020, in Hyderabad on Sunday, Feb 16, 2020.

Updated on Sep 18, 2020, 3:50 PM IST

I-T dept given Rs 2 trillion target by March under dispute resolution scheme: Report

There are 4,83,000 direct tax related disputes pending at various platforms involving tax dues of <span class='webrupee'>Rs</span>9.32 trillion.

Updated on Feb 16, 2020, 8:21 PM IST

The new IT structure won’t have an impact on the majority of taxpayers

Eighty per cent of income tax filers will not be impacted by the new structure and another 15% will not see any significant savings benefits

Updated on Feb 14, 2020, 6:49 PM IST

3 cr Indians travel abroad but only 1.5 cr pay income tax, says PM Modi

Prime Minister Narendra Modi on Wednesday urged citizens to pay their dues for the country’s development

Updated on Sep 14, 2020, 10:41 PM IST

Income Tax dept to share taxpayers’ PAN, other data with Sebi

The sharing of information between the I-T dept and Sebi will be under three broad heads: request-based exchange of data, suo moto and automatic.

Published on Feb 12, 2020, 3:33 PM IST

Not depositing TDS in pensioner’s account, costs SBI ₹10,000 in fine

HT Image

Published on Feb 9, 2020, 12:57 AM IST

Andhra CID writes to IT dept, asks for probe into illegal land dealings in Amaravati

On January 23, the CID registered cases against two former Telugu Desam Party ministers and over 700 others who had allegedly indulged in suspicious land transactions in Amaravati capital region during 2014 and 2015.

Updated on Feb 8, 2020, 11:12 PM IST

Union Budget 2020: A balancing act for taxpayers, govt

Tax relief: The budget has proposed to abolish the DDT regime for dividends declared, distributed or paid on or after 1 April 2020.

Updated on Feb 7, 2020, 6:17 PM IST

Odisha daily wage labourer gets I-T notice for Rs 1.47 cr transaction

The I-T Department has sent a notice to Sanadhara Gand, a resident of Purjaribharandi village, asking him to pay Rs 2.59 lakh tax towards bank transactions of Rs 1.47 crore. (HT Photo)

Updated on Feb 4, 2020, 8:41 AM IST

Budget 2020: Finance minister Nirmala Sitharaman slashes income tax rates to promote growth

Finance Minister Nirmala Sitharaman presents the Union Budget 2020-21 at the Parliament, in New Delhi on Saturday.

Updated on Feb 1, 2020, 1:37 PM IST

Finance Minister Nirmala Sitharaman proposes taxpayer charter in Budget speech, says wealth creators will be respected

People watching live telecast of Union Budget 2020 by Finance Minister Nirmala Sitharaman at a showroom in Mumbai on Saturday.

Updated on Feb 1, 2020, 12:50 PM IST

Union Budget 2020 highlights| All tax exemptions will be removed gradually: Nirmala Sitharaman

Union Budget 2020 highlights| All tax exemptions will be removed gradually: Nirmala Sitharaman

Updated on Feb 1, 2020, 8:25 PM IST

Tax revenue, disinvestment target: Experts shed light on focus areas of Budget

Finance Minister Nirmala Sitharaman with MoS Finance Anurag Thakur during a photo up ahead of the Union Budget 2019 - 2020 at South Block, in New Delhi, India, on Friday, January 31, 2020.

Updated on Feb 1, 2020, 7:08 AM IST

2-day nationwide bank strike to be held today

The two-day nationwide bank strike called by the United Forum of Bank Unions (UFBU), demanding early wage revision settlement, will begin from Friday.

Updated on Jan 31, 2020, 7:10 AM IST

UT invites EWS students to apply for income certificates

HT Image

Published on Dec 7, 2019, 1:10 AM IST

Don’t want to pay tax? You don’t have to

friday inance

Published on Dec 6, 2019, 6:31 PM IST

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