Page 2 - Itr

As deadline approaches, here's how to file I-T return of a deceased person

Failure in filing the ITR of a deceased person makes the heir liable to pay the penalty or fines. It may also lead to some penal consequences

How to claim HRA while filing your ITR

Have Form 16 from two employers? Be careful not to claim tax benefits twice

A mistake in calculating tax liability could lead to a notice from the tax department

Missed declaring rental to employer? Claim HRA exemption while filing ITR

Keep rent receipts that serve as proof handy should taxmen come calling

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

File ITR to avoid TDS/TCS deduction at higher rate, say analysts

The CBDT has issued a circular pertaining to Sections 206AB and 206CCA of the I-T Act, which provide details regarding people to whom higher TDS/TCS rates should apply

Not filed ITR yet? Face penalty or even jail term

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

Next year's ITR to have separate column for crypto income: Revenue Secy

Income tax return forms from next year will have a separate column for making disclosures on gains made from cryptocurrencies and paying taxes, Revenue Secretary Tarun Bajaj said on Wednesday.

Top headlines: Budget 2022 sparks concerns on inflation; HDFC Q3 net up 11%

Business Standard brings you the top headlines on Wednesday

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'

Deadline to file corporate income-tax returns, audit extended

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

Physical or digital: Choose the ITR verification method you find convenient

Your tax return will become invalid unless it is verified within 120 days

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

Income tax returns' filing for FY21 crosses 50 mn-mark: I-T Dept

Over five crore income tax returns (ITR) for the financial year ended March 2021 have been filed so far, the I-T department said on Wednesday.

Over 4.67 cr Income Tax Returns filed on new e-filing portal of I-T dept

Over 4.67 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as of December 27, 2021

Things to remember as you rush to file your return ahead of December 31

To avoid any last-minute errors, one must remember to use the correct ITR form, collate all relevant income and expense documents for quick referral

Income-tax return and types of ITR forms

The deadline for filing IT return is drawing close. Many wait till the last moment to finish the exercise, but that is not advisable. Find out the different categories of ITR forms that taxpayers fill

Choice of wrong ITR form can lead to a notice from Income Tax Dept

Take into account the amount and nature of your income, and residency status when choosing form