Page 3 - Income Tax Returns

Claim deduction either under Section 80 TTA or 80 TTB, but not both

Exemption under Section 10(15)(i) can be availed in conjunction with 80 TTA or 80 TTB

CBDT issues guidelines for new tax rule on gifts, benefits to influencers

Benefits like free medical samples received by doctors and gifts retained by social media influencers will attract TDS

Compare Form 16 with 26AS before filing income-tax return: Experts

Report any discrepancy between the two documents to the employer immediately and get it rectified

Income tax returns increased in FY22 over the previous fiscal: CBDT chief

Talking to PTI, Singh said the number of income tax returns last fiscal was 7.14 crore against 6.9 crore in the preceding financial year, showing a clear growth.

Use Section 89 (1) to reduce tax burden arising from arrears: Experts

To avail of this relief, you must file Form 10E before submitting income-tax return

CBDT lays out guidelines for manual scrutiny of income tax returns

Income-Tax department selects cases manually for comprehensive scrutiny

Govt notifies new form for filing updated ITRs for 2019-20 and 2020-21

Taxpayers filing ITR-U, which can be filed within 2 years of the end of the relevant assessment year, will have to give reasons for updating the income

Seniors need to submit Forms 12BBA, 15G, 15H to save on TDS: Experts

As we enter FY23, remember April is a good time to look into your tax planning for the year ahead

Govt notifies FY22 income tax returns form for trusts, political parties

Further, in ITR-7 political parties will have to give details of voluntary contributions under different categories received by them during the fiscal

Not filed ITR yet? Face penalty or even jail term, say analysts

Breaching March 31 cut-off date will have assessee receive show-cause notice for undisclosed income

I-T refunds worth Rs 1.83 trn issued to 20.7 mn taxpayers so far in FY22

This includes personal income tax refunds of Rs 65,498 crore to over 2.04 crore assessees and corporate tax refunds of Rs 1.17 lakh crore to 2.30 lakh entities

Of 62.6 mn income tax returns filed for FY21, 45 mn processed, says CBDT

More than 5.41 crore income tax returns (ITRs) filed have been verified and 1.58 crore refunds amounting to Rs 31,857 crore for AY 2021-22 (2020-21 fiscal) have been issued

61.7 mn ITRs, 1.9 mn audit reports filed on new I-T portal: CBDT

Of 61.7 million ITRs filed for the assessment year 2021-22, 48 per cent of these are ITR-1, nine per cent is ITR-2, 13 per cent is ITR-3, 27 per cent are ITR-4

Income Tax refunds of Rs 1.62 trillion issued so far this fiscal

The Central Board of Direct Taxes has issued Rs 1.62 lakh crore income tax refunds to over 1.79 crore taxpayers till January 24, 2022 of the current financial year, official data showed on Thursday.

Income Tax return: File a rectification request to expedite stuck refund

Correct your mistake or provide additional information required by Department so that your return gets processed

Despite teething issues, e-filing process largely smooth: CBDT spokesperson

'The faceless assessment scheme in India draws upon the best practices of the UK HRMC and Australian ATO'

Missed December 31 deadline? You can file belated return by March 31

However, you may have to pay a penalty and won't be able to carry forward most types of losses

Top headlines: Corporate ITR filing deadline extended, Tata new IPL sponsor

Telecom companies push for 90-95% cut in base price of 5G spectrum. More in today's top headlines

Deadline to file corporate income-tax returns, audit extended

Assessment Year 2021-22 is for income earned in the financial year 2020-21

Nearly 58.9 mn ITRs for FY21 filed till Dec 31 deadline

Nearly 5.89 crore income tax returns for the 2020-21 fiscal (ended March 2021) have been filed on the new e-filing portal till December 31 deadline, the I-T department said on Saturday. Of this, more than 46.11 lakh ITRs were filed on the last date or December 31 alone. "Nearly 5.89 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as on 31st December, 2021, the extended due date," the Central Board of Direct Taxes (CBDT) said in a statement. In comparison, as on January 10, 2021, (the extended due date for ITRs for AY 2020-21), the total number of ITRs filed was 5.95 crore. As many as 31.05 lakh ITRs filed were on the last day or January 10, 2021. Out of 5.89 crore ITRs filed for AY 2021-22 (2020-21 fiscal), 49.6 per cent of these are ITR1 (2.92 crore), 9.3 per cent are ITR2 (54.8 lakh), 12.1 per cent are ITR3 (71.05 lakh), 27.2 per cent are ITR4 (1.60 crore), 1.3 per cent are ITR5 (7.66 lakh). Besides, 2.58 lakh ITR-6 and 0.6