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Friday, January 22, 2021

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INCOME TAX NEWS

Income Tax Saving Schemes: Investment instruments that are helpful in saving your tax under Section 80C

January 20, 2021 12:49 pm

Income Tax Saving Schemes: These are the top financial instruments that can be used for saving income tax under Section 80C in this financial year 2020-21.

A guide to strategies for tax-saving investments across different sections

January 14, 2021 6:20 pm

Let’s take a look at some of the popular tax saving insurance products that can help you to save a chunk of your tax payments legally and provide financial protection to you and your dependents against any unfortunate event.

Deadlines for filing I-T, GST returns extended

December 31, 2020 5:05 am

Income Tax Return (ITR) Filing FY 2019-20 Last Date: The deadline for companies and individuals who need to get their accounts audited too have been extended by 15 days till February 15, the Finance Ministry said in a statement.

Dec 31 last date for these financial tasks: Income tax return, Vivad Se Vishwas scheme, GST annual return

December 30, 2020 3:09 pm

Income Tax Return (ITR), GSTR-9 Annual Return Filing: From FY 2019-20 income tax return (ITR) to furnishing FY 2018-19 GST annual returns, December 31 is the last date for these financial tasks.

ITR Filing 2019-20: Here is how to file your Income Tax Return online

December 30, 2020 9:39 am

Income Tax Return (ITR) Filing Online 2019-20: The last date to file your ITR is December 31. here is how to file your income tax return online.

Over 4.23 crore ITRs for fiscal 2019-20 filed till December 27

December 28, 2020 5:35 pm

The deadline to file Income Tax Returns (ITRs) by individual taxpayers for 2019-20 fiscal (Assessment Year 2020-21) ends on December 31, 2020, while the same for taxpayers whose accounts require to be audited is January 31, 2021.

ITR Filing 2019-20: Last date, list of documents required to file an Income Tax Return

December 18, 2020 3:01 pm

Income Tax Return (ITR) Filing 2019-20 Last Date, documents required: Have you filed your income tax return (ITR) for the financial year 2019-20 (FY20) yet? If the answer is no, then you must check this to know the documents required.

Explained: Why has Govt extended Income Tax Return (ITR) filing last date again?

October 31, 2020 12:19 pm

Income Tax Return (ITR) Filing Last Date: The deadline for filing income tax returns for individuals for financial year 2019-20 (assessment year 200-21) has been extended by a month to December 31.

Income tax return filing deadline for FY20 extended till December 31

October 25, 2020 2:14 pm

Income Tax Return (ITR) Filing Last Date: For those taxpayers whose accounts need to be audited, the Income-Tax Return filing deadline has been extended by two months till January 31, 2021.

As prices rise steeply, I-T raids godowns of 10 onion traders in Nashik

October 15, 2020 8:44 pm

Holkar claimed the raid was in line with a “pattern” seen over the years. “When onion prices start rising, first exports are banned and when that fails to cool down prices, income tax officials come knocking on the doors of traders,” he said.

INCOME TAX VIDEOS

Explained: Here's how the Modi govt budgeted for elections

June 22, 2020 6:03 pm

Budget 2019: Indian Express Rural Affairs Editor Harish Damodaran and Consulting Editor Shaji Vikraman take a deep dive and explain fine prints of the Union Budget presented by Finance Minister Piyush Goyal in Lok Sabha today.

Budget 2019 could give tax reliefs to make it popular

June 22, 2020 6:04 pm

Poorva Prakash, Senior Director, Deloitte India, says that the upcoming Vote on Account could give multiple personal tax concessions in order to make it a popular. She explains what can be expected on February 1.

Budget 2019 could give tax breaks for home buyers, rented properties

June 22, 2020 6:04 pm

Poorva Prakash, Senior Director, Deloitte India, explains what can be expected in the upcoming Vote on Account to make it a populist one.

Budget 2019 could raise basic tax exemption limit to Rs 3 lakh

June 22, 2020 6:04 pm

Poorva Prakash, Senior Director, Deloitte India, explains that as a trend Finance Ministers don't make any major personal tax changes in a Vote on Account. However, she expects the Finance Minister to lay a roadmap for tax sops in this.

Tax proposals to provide relief to taxpayers: Arun Jaitley (Part 3)

February 29, 2016 4:47 pm

New Delhi, Feb 29 (ANI): Finance Minister Arun Jaitley said that tax proposals will provide relief to small taxpayers through rebates. People who do not have any house of their own and don't get any house rent allowance from their employer will get a reduction of Rs.24000 per annum. There would be an increase in limit of deduction in respect of rent paid from Rs 24000 pa to Rs 60000 pa. Jaitley also said that service tax would be exempted for general insurance schemes under Niramayi Swasthya Bima Yojna. He said that to lessen burden on individuals with income not exceeding Rs. 5 lakh, a proposed ceiling of tax rebate under sec 87A from Rs 2000 to Rs 5000 has been announced. The minister also said that a limited tax compliance window from Jun 1 - Sep 30 will be given for declaring undisclosed income at 45% inclusive of surcharge and penalties. He further added that excise duty on tobacco products would be raised by 10-15%. He also proposed to abolish 13 different taxes levied by various Ministries in which revenue collection is less than Rs 50 crores per year. Arun Jaitley even said that relief would be provided to differently-abled people on braille paper by exempting the duty levied on it. He also said that there would be no change in Income Tax slab.

Tax proposals to provide relief to taxpayers: Arun Jaitley (Part 1)

February 29, 2016 4:45 pm

New Delhi, Feb 29 (ANI): Finance Minister Arun Jaitley said that tax proposals will provide relief to small taxpayers through rebates. People who do not have any house of their own and don't get any house rent allowance from their employer will get a reduction of Rs.24000 per annum. There would be an increase in limit of deduction in respect of rent paid from Rs 24000 pa to Rs 60000 pa. Jaitley also said that service tax would be exempted for general insurance schemes under Niramayi Swasthya Bima Yojna. He said that to lessen burden on individuals with income not exceeding Rs. 5 lakh, a proposed ceiling of tax rebate under sec 87A from Rs 2000 to Rs 5000 has been announced. The minister also said that a limited tax compliance window from Jun 1 - Sep 30 will be given for declaring undisclosed income at 45% inclusive of surcharge and penalties. He further added that excise duty on tobacco products would be raised by 10-15%. He also proposed to abolish 13 different taxes levied by various Ministries in which revenue collection is less than Rs 50 crores per year. Arun Jaitley even said that relief would be provided to differently-abled people on braille paper by exempting the duty levied on it. He also said that there would be no change in Income Tax slab.