Tag: ITR filing

Seniors over 75 should declare pension, interest income for ITR filing exemption

NEW DELHI: For senior citizens of 75 years and above looking for exemption from filing income tax returns, the Central Board of Direct Taxes (CBDT)...

Tax returns filing this year: What has changed

Every year, there are certain changes that are incorporated in the forms issued for filing income tax returns (ITR) and the processes involved, which the...

5 money tasks that you must complete this month

The month of September is important as there are five important money tasks that must be completed this month. In case you miss some of...

Govt extends deadline for filing of various forms under Income Tax Act. Details here

“On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read...

Segregating income in these 5 heads can simplify ITR filing

Income tax calculator: While filing income tax return (ITR), it’s important for the taxpayer to know the various categories of income segregated by the income...

Know when and how to file ITR of a deceased person

NEW DELHI: Death and taxes are inevitable. As weird as it may sound, but even on death, outstanding tax liabilities must be repaid. The legal...

Users of new Income tax return portal continue to face glitches

A week after the Income Tax Department’s much publicised new e-filing portal went live, users continued to face technical glitches ranging from longer than usual...

Four things to keep in mind while filing income tax return this year

Every year, the income tax department introduces certain changes in the tax-filing process or the tax forms. It is important for a taxpayer to know...

All you need to know about the new tax filing system

The old income tax portal, incometaxindiaefiling.gov.in, was shut for users from 1 to 6 June as the government worked on launching its new income tax...

Income Tax Return or ITR forms for AY 2021-22 issued. Details here

The Central Board of Direct Taxation (CBDT) has notified new income tax return forms — ITR-1 to ITR-7 — for the assessment year 2021-22, the...

5 tasks you need to perform with the start of the new financial year

There are certain tasks you need to perform at the beginning of the new financial year to manage your finances better. As the new fiscal...

From PF to income tax to air travel, 10 ways your life will change from April

Take a look at key changes that are going to take place from 1 April Interest rates of small savings schemes to be reduced Finance...

tax refunds: Max time for processing your ITR, tax refunds now 9 months vs 1 year earlier

Budget 2021 has proposed to reduce the time allowed to the income tax department to process income tax returns (ITR) by three months. As per...

Haven’t got income tax refund as yet? You may need to confirm it to the tax dept

Your income tax refund may be held up pending your confirmation about its accuracy if there was a significant difference in incomes or deductions that...

ITR filing: 9 key changes in ITR-1 and ITR-2 for FY 2019-20

By CA Naveen Wadhwa and CA Rahul Singh The Income Tax Department has notified income tax return (ITR) forms 1 to 7 for the financial...

Importance of Form 26AS in ITR filing process

By Sachin Vasudeva Form 26AS is an annual statement which has details of the tax credited against the PAN of a tax payer. This form...

FY19 ITR deadline extended but don’t wait till last minute to file tax return

This is the third extension since 31 March 2020, which was the original deadline for filing the belated return for FY18-19. In the wake of...

Know how gains from intraday stock trading are taxed

Ever since the covid-19 pandemic set in, many people resorted to direct trading in stocks. Some of the brokerages have seen a surge in the...

An ROR must file income tax return in India if he or she holds any foreign asset

I am a 64-year-old US citizen. I spend some time in the US and some in India. Before moving out from India, l had bought...

Centre gives more time for income tax filings, investments for FY20

New Delhi: The government on Wednesday gave extra time for individuals and businesses to meet various compliance requirements including for filing tax returns amid signs...

Income tax department opens ITR filing window for those using ITR 1 form

NEW DELHI : The income tax department today announced that it has opened the window for filing of income tax returns (ITR) for financial year...