It Returns

I-T department selects 68,000 'high-value' cases for e-verification

The transactions were allegedly not reported correctly in tax returns for FY20

ITR 2021-22: These high-value transactions must be declared in your return

Such transactions attract special attention from the income tax (I-T) department and are mandatory to be furnished. If not, they may lead to fines, penalties or even jail term

ITR: 5 common mistakes you should avoid while filing your income tax return

The taxpayers are required to fill out several forms, Form 26AS, Form 16, capital gains statement, and interest certificates, among others. In all the paperwork, some mistakes are bound to happen

TMS Ep209: Environmental protection, IT returns, markets, online broker

Are changes in laws putting businesses ahead of the environment? What to remember while filing IT returns? Which are the promising sectors of Q1 FY23? How to choose your online broker? Answers here.

Cross-check data in pre-filled forms while filing income-tax return

The documents you collect for this purpose will prove handy if an assessing officer conducts inquiry

CBDT lays out guidelines for manual scrutiny of income tax returns

Income-Tax department selects cases manually for comprehensive scrutiny

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

What is going to change for income tax payers from today?

A set of changes related to income tax are coming into effect from the first day of the new financial year. One of the highlights is the 30% tax on cryptocurrency gains. What are the other changes?

Budget 2022: Taxpayers can file updated I-T returns within two years

The Finance Minister said this would give taxpayers an opportunity to correct any omissions or mistakes in correctly estimating their income for tax payment

46.4 million income tax returns filed amid portal glitch complaints

The government had extended the date of filing income tax returns for AY22 to December 31, 2021, from July 31, 2021

Over 20 million I-T returns filed on new portal; many glitches rectified

Infosys has been asked to address issues linked to complex filings

Include cryptocurrency gains in income-tax returns, say analysts

Treat it as capital gain if you buy and hold; as business income if you trade frequently

Top headlines: RBI MPC meet outcome today, Airtel-Amazon deal, and more

From PM Modi laying foundation stone of Ram Temple, RBI Policy meet likely to keep lending rate unchanged to Airtel signing Amazon deal, here are the top news of the day

ITR scrutiny fell to 0.25% in AY 2018-19 to enable better services: FinMin

State-wise data also the number of returns filed during AY 2018-19 has gone up compared to AY 2017-18.

Income Tax return filing: Compulsory to declare cash deposit over Rs 1 cr

If travelling abroad, keep a copy of bank statement which has details of payments made for buying tickets and hotel expenses

Export promotion scheme, shopping fests: FM's new measures to boost exports

Make sense of all the announcements made by Finance Minister Nirmala Sitharaman for the exports sector

13 mn new I-T return filers to be added in FY20, govt tells Parliament

There were 8.44 crore taxpayers in FY19

Budget 2019: PAN, Aadhaar interchangeable for filing of IT returns, says FM

Sitharaman said Aadhaar card for NRIs with Indian passports will be issued after their arrival in India, without waiting for the mandatory 180 days

Govt extends deadline for filing I-T returns, audit report till October 15

ITR filing by salaried taxpayers and those opting for presumptive income scheme surged 71% to 54.2 million till August 31