Income tax filing

Only 54 Lakh Indians File Income Tax Returns Before July 31 Deadline; 4.5 Lakh Filed In Last 60 Minutes! The last date for submitting the income tax returns was on July 31, 2022, and this time, the government has not extended the final…

Pay Upto Rs 5000 Penalty If Income Tax Not Filed By March 31; Double TDS, And No Interest On Refund! As we all know, the last date for filing your income tax return (ITR) for the financial year 2020-21 (AY 2021-22) was March 31. …

FM Nirmala Sitharaman has summoned Infosys CEO & MD Salil Parekh on Monday, to explain the reason behind continued glitches on the income tax portal, even after over two month of the portal’s launch. Almost 80 days after the launch…

The Income tax department has announced that is ready to refund the taxpayers for excess interest and late fees paid due to technical glich in filing ITRs for 2020-21. Several taxpayers who filed their income tax return (ITR) for…

The net direct tax collection by the Centre for the financial year 2021-22, has crossed over Rs 1.85 lakh crore. In an official statement released by the Ministry of Finance on Wednesday, the net direct tax collection by the Centre for…

Pay Double TDS/TCS From July 1, If You Haven't Done This (New Income Tax Rules) For those who haven’t filed Income Tax Returns (ITR) yet, it is high time to do so since if you do it after July 1 then it would attract a higher TDS/TCS…

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…

The Centre passes various notifications in the GST law, which will ease Tax payments for Indian taxpayers. The second wave of coronavirus pandemic has crippled the economy to a great extent, in addition to worsening the health…

Income tax will be charged on UPI transactions and e-wallet payments too. With the volume of transactions via e-payments and UPI gaining exceeding traction, especially during the past few months. Factors like restrictions in terms of…

TDS of 1% will be levied on all payments made to e-commerce participant/sellers/retailers by e-comm operators (Amazon, Flipkart, etc), under the Section 194-0 from October 1, 2020. With the number of vendors enrolling themselves with…