Income Tax Filing

The income tax department gives you different options to reset your Income Tax e-filing portal password. Check out the step by step guide below

The income Tax Department launches an AIS application for taxpayers aiming to provide each transaction information taxpayers and accept their feedback

Separate schedule for virtual digital assets requires details like date of acquisition, date of transfer head

Earlier, it was proposed that an updated tax return cannot be filed, in case of search or survey proceedings in the relevant financial year and the preceding one

Any refund you are eligible for won't be processed unless you correct the mistakes in your return

The concerns from tax authorities have come at a time when there is an ongoing debate on how far 'moonlighting' by employees can be allowed.

Clear TDS, a SaaS platform, can generate three million FVU files in 30 minutes, and has automated bulk PAN and aadhaar linking verification, challan verifications among other features

Tribunal says Ola is a mere intermediary; its role is limited to managing OLA app, facilitating transport services by the driver to the rider and payment collection via e-wallet on driver's behalf

Over 1.55 lakh updated income tax returns (ITR-U) have been filed up to September 2, the income tax department said on Sunday. The income tax department had in May this year notified a form for filing updated income tax returns (ITRs). The taxpayer will have to pay an additional amount over and above the due tax while filing ITR-U. "Over 1.55 lakh Updated ITRs have been filed upto 2nd September, 2022," the I-T department tweeted. It said more than 20,000 taxpayers have filed Updated ITRs for both AYs 2020-21 and 2021-22 (2019-20 and 2020-21 fiscal years). Finance Act 2022 introduced a new provision for filing Updated Income Tax Returns under section 139 (8A) of the Income-tax Act, 1961. As per the provision, an additional 25 per cent on the due tax and interest would have to be paid, if the updated income tax return (ITR) is filed within 12 months, while the rate will go up to 50 per cent if it is filed after 12 months, but before 24 months from the end of relevant Assessment ...

On July 31, 7.24 million ITRs had been filed, shattering all previous single-day records (the maximum being 4.9 million in 2019)

SSBA Innovations, which runs tax portal TaxBuddy, has filed preliminary papers with capital markets regulator Sebi to raise Rs 105 crore through an Initial Public Offering (IPO). The IPO is entirely a fresh issue of equity shares aggregating up to Rs 105 crore, according to the Draft Red Herring Prospectus (DRHP). Proceeds of the issue to the tune of Rs 65.45 crore will be used for funding user acquisition and business development, Rs 15.22 crore for technological development and balance amount towards general corporate purpose. The company is a technology-driven financial solutions and services platform focused on providing financial solutions in the area of tax planning and filing, personal investment advisory and wealth building to individuals, HUF, professionals, firms, and companies registered on its platforms. Incorporated in 2017, SSBA Innovations owns two platforms -- TaxBuddy and Finbingo. TaxBuddy was launched in October, 2019, that offers assisted tax (ITR and GST) plan

Missed ITR 2022-23 deadline? Under section 234F of the IT Act, a late filing will be imposed on taxpayers after the due date, July 31, 2022. How many penalties should you pay?

The deadline for filing income-tax returns (ITRs) for the assessment year 2022-23 ended on Sunday

ITR is generally filed to claim the tax deductions and exemptions from the long-term capital gains, however, the benefits of filing the ITR 2021-22 before July 31 are not limited to this

As the deadline for filing ITR approaches, the demand for extending it has also grown

Under section 234F of the Income Tax Act, 1961, the taxpayer is required to pay a penalty of Rs 5,000 for delaying the ITR and filing a belated ITR

The government is not considering extending the last date for filing income tax returns as it expects most returns to come in by the due date of July 31, a top official said

Filing your income tax return on time is always the best option. We explain what happens when you file it late

Failure to do so can result in penalties for the legal heir

Individual taxpayers not having business or professional income can use this form