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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)

The number of defective income tax return (ITR) notices has been increasing lately (Scott Graham/Representational Image/Unsplash)

business

Published on Aug 22, 2024 08:59 PM IST

ByHT News Desk

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

Over 7.28 crore income tax returns filed for the financial year 2023-24. (Pexels)

business

Published on Aug 05, 2024 05:05 PM IST

ByHT News Desk

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.

Tax practitioners said that the process of paying self-assessment tax through banks and downloading challans is time-consuming.

business

Updated on Jul 30, 2024 11:07 AM IST

ByHT News Desk

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

ITR filing: Income Tax Department warns against fake news on ITR deadline extension and tax refund scams.

business

Updated on Jul 31, 2024 09:42 AM IST

ByHT News Desk

Budget 2024: Rent has to be declared under 'income from house property' tax head

Nirmala Sitharaman said some taxpayers were reporting their rental income under the wrong income tax head, thus reducing their tax liability.

budget

Updated on Jul 23, 2024 07:20 PM IST

ByHT News Desk

Deposit revenue generated by societies in Consolidated Fund of India: Chandigarh admn to dept heads

In a notice issued to the departments, the department requested them to ensure that the income/revenue generated by societies under their control was retained in the society’s account only with prior permission of MHA, otherwise it will be considered diversion of income from Consolidated Fund of India and is not permissible.

In the absence of any approval from the MHA for retention of income with the revenue generated by the society, the same may be ensured to be credited to Consolidated Fund of India as early as possible. (Shutterstock)

cities

Published on Jul 12, 2024 09:53 PM IST

ByHT Correspondent, Chandigarh

Eat the rich, but do it in a logical way

A clean-up is needed in India’s tax regime to make it rational across assets. There is also a need for policy permanence

Mumbai, India - March 31, 2015 : People stand in queue to file their IT returns on last day of financial year outside Income Tax office at BKC, Bandra in Mumbai, India, on Tuesday, March 31, 2015. (Photo by Pratham Gokhale/ Hindustan Times) (Hindustan Times)

opinion

Published on Jul 01, 2024 08:34 PM IST

ByMonika Halan

40% elderly don’t have any source of income: HelpAge India report

The economic condition of the elderly is poor and high illiteracy levels have made the situation even worse, says the report

This fact was highlighted at an event held at the Social Work department, Lucknow University and jointly organised by HelpAge India on the eve of ‘World Elder Abuse Awareness Day’ (June 15). (Getty Images)

cities

Updated on Jun 15, 2024 09:22 AM IST

ByHT Correspondent, Lucknow

Heatwave effect: Street vendors report income loss, health issues in Delhi

Researchers spoke to street vendors from 15 markets in Delhi, including Lajpat Nagar, Connaught Place and Khan Market

Among the health impacts listed by vendors, irritability was the most common, affecting 73.44% of respondents, followed by headaches (66.93%), dehydration (67.46%), and sunburns (66.53%). (Raj K Raj/HT Photo)

cities

Updated on Jun 15, 2024 05:36 AM IST

ByHT Correspondent

Post-Elections: Himachal starts witnessing surge in tourist footfall

Post-election surge boosts tourist influx in Himachal Pradesh. Nearly 13,000 vehicles entered the state from interstate borders in Parwanoo in the last three days.

The hospitality sector, rejuvenated by this post-election surge, anticipates a significant boost in income in the coming weeks. (Deepak Sansta/HT)

cities

Updated on Jun 03, 2024 05:32 AM IST

ByGaurav Bisht, Shimla

DLF net profit up 62 pc in Q4 to ₹921 cr; FY'24 profit up 34pc to ₹2727cr

DLF net profit up 62 pc in Q4 to <span class='webrupee'>₹</span>921 cr; FY'24 profit up 34pc to <span class='webrupee'>₹</span>2727cr

business

Published on May 13, 2024 08:11 PM IST

PTI |

Handelsbanken Earnings Miss as Growing Costs Draw More Focus

Svenska Handelsbanken AB reported first-quarter earnings that missed analyst estimates and signaled it will double down on slashing expenses after costs rose faster than income.

business

Published on Apr 24, 2024 10:54 AM IST

Bloomberg |

A US man earns over ₹1.4 crore in a year, this is what he did to double his in

The US man came across a video that gave him the idea of juggling multiple jobs, leading to a better income.

Adam shared that he normally works between 30 and 60 hours. (Pixabay)

trending

Updated on Apr 08, 2024 03:53 PM IST

ByVrinda Jain

Record increase in KV temple income

In 2022-23, devotees offered over ₹58.51 crore to the temple, while in 2021-22, the offerings were worth ₹20.08 crore . Thus, the offerings made in the temple increased 191 percent in 2022-23 as compared to the previous year, the temple administration said.

in the past two years, 12.84 crore devotees visited the KV Dham. (HT FILE)

cities

Updated on Mar 29, 2024 08:02 AM IST

ByHT Correspondent

Ecostani | India’s rising inequality questions country’s governance model

The report shows that there is growing inequality with the rich getting richer faster and incomes of those in the lower strata not increasing at the same pace

A report by the World Inequality Lab, which is yet another example of income disparity in the country, said the distribution of economic growth in India has significant consequences on global inequality dynamics. (CES) (AP)

analysis

Published on Mar 24, 2024 08:00 AM IST

ByChetan Chauhan

BJP has highest income with ₹2360.84 cr, Congress ₹452.37 cr in FY 2022-23: ADR

The Indian National Congress (INC) has declared the second-highest income of ₹452.37 crore closely followed by the Communist Party of India (Marxist) at ₹141.66 crore

The report analyses the total income and expenditure incurred, all over India, by all national parties. (Representative file photo)

india news

Updated on Feb 29, 2024 11:44 AM IST

ByAkshita Kumari

Property bought in name of homemaker wife is family property: Allahabad HC

The court further held that in such circumstances, it is necessary to protect the property from creation of third-party rights.

india news

Published on Feb 24, 2024 03:51 PM IST

ByHT News Desk

Evening briefing: Bengal governor reacts to ‘Khalistani’ row

A shortlist of the biggest headlines, recommended stories, and a special collection of news items you should check out.

West Bengal governor CV Ananda Bose (PTI)

india news

Published on Feb 22, 2024 06:05 PM IST

ByHT News Desk

Ukraine's Zelenskyy publishes income as part of transparency drive

Zelenskyy noted that his income had declined in 2021 and further in 2022, when Russia invaded Ukraine

Ukrainian President Volodymyr Zelenskyy (AFP)

world news

Published on Jan 29, 2024 07:47 AM IST

Reuters |

Maratha activist Jarange-Patil says Maharashtra government accepts demands

Manoj Jarange-Patil started his hunger strike from Friday morning. The activist has stopped taking meals from 11 in the morning and is surviving only on water.

Maratha activist Manoj Jarange Patil and his supporters during their march for reservation, in Navi Mumbai, Friday.(PTI)

india news

Published on Jan 26, 2024 06:21 PM IST

ByFaisal Malik

Akhilesh takes swipe at Viksit Bharat Yatra

Samajwadi Party leader Akhilesh Yadav questioned whether farmers and unemployed youth are part of the BJP's "Viksit Bharat" campaign, and criticized the party for not addressing their issues. He also predicted a change in government in 2024.

Samajwadi Party president Akhilesh Yadav was talking to reporters in Lucknow. (HT file)

cities

Updated on Jan 07, 2024 10:16 PM IST

ByHT Correspondent, Lucknow

The year ahead in politics: It’s Centre forward in India

The country is at a turning point. If Modi wins a third term, he will match Nehru’s record of electoral victories, amid a Congress fade.

One glance at a map and it is clear that unless the Congress can erode the BJP’s tally in HP, Haryana, Rajasthan, Gujarat, MP, Maharashtra, Chhattisgarh, Assam, Jharkhand, Uttarakhand and Karnataka, the Modi juggernaut will roll on. (HT Imaging: Malay Karmakar)

india news

Updated on Jan 01, 2024 06:43 AM IST

ByPrashant Jha

Ready to set sail on cruise in New Year 2024? Here's what travellers should know

Online travel companies are taking notice of the cruise boom but as travellers get ready to set sail on cruises at record levels in New Year 2024, know this

Ready to set sail on cruises in New Year 2024? Here's what travellers across all income and budget levels need to know (Andy Newman/Crystal Cruises via AP)

lifestyle

Published on Dec 04, 2023 04:47 PM IST

Reuters | | Posted by Zarafshan Shiraz, New York/bengaluru

Innovative Farming: Women farmers receiving drone training for sprinkling nano urea

The initiative unfolds at a newly established drone training centre within the Cooperative Rural Development Trust (CORDET) at IFFCO in Phulpur.

The ongoing efforts have already seen success, with 150 women farmers having received specialised technical education on harnessing drone technology for sprinkling nano urea. (HT Photo)

cities

Updated on Dec 02, 2023 09:56 AM IST

ByHT Correspondent

Terms of Trade | Gentrification of consumer demand, global capitalism

India’s consumer economy is a story of two economies: Expensive mobile phones get sold out within minutes; many struggle to deal with a rise in onion prices

High-end cars and expensive mobile phones get sold out within minutes of hitting the shelves while some people are struggling to deal with a rise in prices of onions and pulses. (FILE)

opinion

Published on Nov 17, 2023 04:40 PM IST

ByRoshan Kishore

UP rapidly developing, favourable for startups, investments: Chief secy

As many as 105 fellows participated in the programme where they each received a certificate in Public Policy and Management for their two-year journey of “transforming public policy, fostering industry engagement, and advancing entrepreneurship”.

Chief secretary Durga Shankar Mishra at the IIM-Lucknow event on Saturday (HT Photo)

cities

Updated on Oct 29, 2023 07:00 AM IST

ByHT Correspondent, Lucknow

₹100-crore salary club doubled in 2021-22 assessment year: Govt data

While combined salary income of these 16 people was a little over ₹2,569 crore, their average annual income was ₹160.57 crore, the data showed.

Interestingly, the total number of such billionaires in 2021-22 was still lower than 20 super salary earners in 2019-20 assessment year (Reuters)

india news

Updated on Oct 29, 2023 06:24 AM IST

ByRajeev Jayaswal, New Delhi

Gross income of taxpayers rose 56% in 8 yrs, from ₹4.5 lakh to ₹7 lakh: Govt

The filing of ITRs was growing consistently and 7.41 crore returns have been filed for AY 2023-24 as on date, which includes 53 lakh first-time filers, the govt said

The increase in average gross total income for top 1% individual taxpayers is 42% while that for bottom 25% individual taxpayers is 58% (File Image)

business

Updated on Oct 26, 2023 10:25 PM IST

ByRajeev Jayaswal

International Poverty Eradication Day: Date, history, theme and significance

International Day for the Eradication of Poverty is a global call to action to address one of the world's most pressing challenges: poverty. All details inside.

lifestyle

Published on Oct 16, 2023 04:22 PM IST

ByAkanksha Agnihotri, Delhi

Horoscope Today: Astrological prediction for October 7, 2023

Daily horoscope: Are the stars lined up in your favour? Find out the astrological prediction for Aries, Leo, and other zodiac signs for October 7, 2023.

astrology

Published on Oct 07, 2023 02:29 AM IST

ByManisha Koushik, Dr Prem Kumar Sharma, Delhi

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income news

Latest from income

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)

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

Landslides in Uttarakhand and Himachal Pradesh have further compounded these difficulties, All-India Federation of Tax Practitioners said.

IT department alerts taxpayers on fake news circulating about ITR deadline and warns about tax refund scams

Nirmala Sitharaman said some taxpayers were reporting their rental income under the wrong income tax head, thus reducing their tax liability.

A clean-up is needed in India’s tax regime to make it rational across assets. There is also a need for policy permanence

The economic condition of the elderly is poor and high illiteracy levels have made the situation even worse, says the report

Researchers spoke to street vendors from 15 markets in Delhi, including Lajpat Nagar, Connaught Place and Khan Market

Post-election surge boosts tourist influx in Himachal Pradesh. Nearly 13,000 vehicles entered the state from interstate borders in Parwanoo in the last three days.

DLF net profit up 62 pc in Q4 to ₹921 cr; FY'24 profit up 34pc to ₹2727cr

Svenska Handelsbanken AB reported first-quarter earnings that missed analyst estimates and signaled it will double down on slashing expenses after costs rose faster than income.

The US man came across a video that gave him the idea of juggling multiple jobs, leading to a better income.

In 2022-23, devotees offered over ₹58.51 crore to the temple, while in 2021-22, the offerings were worth ₹20.08 crore . Thus, the offerings made in the temple increased 191 percent in 2022-23 as compared to the previous year, the temple administration said.

The report shows that there is growing inequality with the rich getting richer faster and incomes of those in the lower strata not increasing at the same pace

The Indian National Congress (INC) has declared the second-highest income of ₹452.37 crore closely followed by the Communist Party of India (Marxist) at ₹141.66 crore

The court further held that in such circumstances, it is necessary to protect the property from creation of third-party rights.

A shortlist of the biggest headlines, recommended stories, and a special collection of news items you should check out.

Zelenskyy noted that his income had declined in 2021 and further in 2022, when Russia invaded Ukraine

Manoj Jarange-Patil started his hunger strike from Friday morning. The activist has stopped taking meals from 11 in the morning and is surviving only on water.

Samajwadi Party leader Akhilesh Yadav questioned whether farmers and unemployed youth are part of the BJP's "Viksit Bharat" campaign, and criticized the party for not addressing their issues. He also predicted a change in government in 2024.

The country is at a turning point. If Modi wins a third term, he will match Nehru’s record of electoral victories, amid a Congress fade.

Online travel companies are taking notice of the cruise boom but as travellers get ready to set sail on cruises at record levels in New Year 2024, know this

The initiative unfolds at a newly established drone training centre within the Cooperative Rural Development Trust (CORDET) at IFFCO in Phulpur.

India’s consumer economy is a story of two economies: Expensive mobile phones get sold out within minutes; many struggle to deal with a rise in onion prices

As many as 105 fellows participated in the programme where they each received a certificate in Public Policy and Management for their two-year journey of “transforming public policy, fostering industry engagement, and advancing entrepreneurship”.

While combined salary income of these 16 people was a little over ₹2,569 crore, their average annual income was ₹160.57 crore, the data showed.

The filing of ITRs was growing consistently and 7.41 crore returns have been filed for AY 2023-24 as on date, which includes 53 lakh first-time filers, the govt said

International Day for the Eradication of Poverty is a global call to action to address one of the world's most pressing challenges: poverty. All details inside.

Daily horoscope: Are the stars lined up in your favour? Find out the astrological prediction for Aries, Leo, and other zodiac signs for October 7, 2023.

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