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Income Tax Returns: Due Date For Filing Updated ITR Is Nearing; Which Taxpayers Need To File?

The due date to file an updated Income Tax Return (ITR-U) for 2021-22 is declared as 31st March 2024. The Income Tax Department of India has tweeted to alert the taxpayers regarding the approaching date. The alert is for the taxpayers ...

Income Tax Calendar 2023: Taxpayers Should Not Miss These Important Dates In November To Avoid Losses

We are less than two months away from this year to get over as we have already entered the second week of November. For taxpayers, it is important that they follow the Income Tax Calendar 2023 and stay updated about some ...

GST Council Announces Amnesty Scheme for Taxpayers to File Appeals till January 31, 2024

The GST Council has introduced an amnesty scheme allowing taxpayers to file appeals against demand orders passed by tax officers until March 2023. Read more....

68,000 Cases Picked Up For 'E-Verification' For Income Mismatch In AIS, ITR For FY 2019-20

As many as 68,000 cases have been picked up for e-verification by the income tax department for unreporting or under reporting of income in tax returns for 2019-20 fiscal, CBDT chief Nitin Gupta said on Monday. Under the e-verification scheme, the ...

Government Notifies ITR Forms For 2022-23

The Income-Tax Department has notified forms for filing I-T returns by individuals as well as businesses for 2022-23 fiscal year. The Central Board of Direct Taxes (CBDT), through a notification dated February 10, has notified ITR forms 1-6, ITR-V (verification form) ...

Government Expects 'Fabulous' Response To Revamped I-T Regime: CBDT Chief

The benefit of the revamped I-T regime will percolate down to every section of the taxpayer and the government expects a 'fabulous' response to it, a top Income Tax official said on Friday. The 2023-24 Budget has proposed changes to the ...

New 'Tax' Regime "Sweetened" To Benefit Maximum Number Of Taxpayers: CBDT Chairman

The new income tax regime for filing returns has been "sweetened" in the Budget 2023-24 and it will be beneficial for maximum number of taxpayers as they can enjoy a "reduced" tax rate, CBDT Chairman Nitin Gupta said. Speaking to PTI ...

Tax Department Reduces Time, For Taxmen To Decide On Refund Adjustment

The income tax department has reduced the time for tax officers to decide on adjustment of refunds against outstanding tax dues to 21 days, a move which will help avoid litigation. The time limit of 30 days made available to the ...

Tax Department Reduces Time For Taxmen, To Decide On Refund Sdjustment

Slow GST Portal: CBIC Mulls Extending, Sept Returns Filing Due Date

With taxpayers facing slow functioning of the GSTN portal, CBIC on Thursday said it is examining the proposal of extending the deadline for filing GST returns for September. GSTR-3B is filed in a staggered manner between the 20th, 22nd, and 24th ...

I-T Dept Allows Taxpayers More Time, To Claim Credit For Taxes Paid Outside India

The income tax department on Friday said taxpayers can claim credit for taxes paid outside India before the end of the assessment year if the I-T return is filed within the stipulated deadline. So far, Foreign Tax Credit (FTC) could have ...

Kejriwal Giving 'Perverse Twist', To Freebies Debate; Creating Fear In Minds Of Poor: FM

Finance Minister Nirmala Sitharaman on Thursday hit out at Delhi Chief Minister Arvind Kejriwal for giving a "perverse twist" to the debate on freebies, saying the AAP leader putting education and health in that category is an attempt to create fear ...

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