Income Tax in India

Income Tax Department on Wednesday said that it would launch a new e-filing portal. The Central Board of Direct Taxes (CBDT) on Thursday extended the deadline for filing income tax returns(ITR) for FY 2020-21 (AY 2021-22) to September…

In last couple of years online tax return filing has taken off – According to reports, 51 lakh (out  of 3.4 crore ) people filed their tax returns online in the year 2009-10, this number ballooned to 91.57 lakhs in 2010-11. That is…

Its Official – If you are salaried and earn less than Rs. 5 Lakh a year – There is no need for you to file income tax returns for assessment year ending 2012. What his means that salaried persons will not have to file returns for earnings…

Congress Party seems to have played a masterstroke here. After not so impressive budget, they have announced something that will make the common man scream with Joy. In fact the Government has unveiled the draft of a brand new direct tax…