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The income tax department issued an income tax notice to a 40-year old e-rickshaw driver in Mathura, demanding him to pay tax of Rs 3.47 crore for his annual turnover of Rs 43.44 crore in the 2018-19 financial year. E-Rickshaw Driver, Pratap Singh filed a police report on Sunday, but no FIR has been registered […]
Read moreIncome Tax refund: Despite the fact that the deadline for filing income tax returns (ITR) for the assessment year 2021-22 has been extended until December 2021, many people have already completed the process. Some of these people may be waiting for their tax refund since they paid more tax than they owed. The refund request […]
Read moreIn response to criticism over technical issues with the new income tax return filing system, Infosys CEO Salil Parekh stated on Wednesday that the new income tax portal his company developed is making “steady progress” and that 1.9 crore forms have already been filed. He also stated that the complaints of taxpayers are being “progressively […]
Read moreList of Important Income Tax Due date of compliances under Income Tax Act, 2021 for the month of October 2021. Income Tax Due date October 2021 Income Tax Due date Particular 07/10/2021 Payment of TDS /TCS for the month of September 2021 15/10/2021 Due date for furnishing of Form 24G by an office of the […]
Read moreThere are no free lunches in this world. If someone tries to give you free money, even if it’s in the form of an income tax refund, be cautious. Read one of the most recent scam emails done with the name of Income tax Refund and how to secure your sensitive data. What the hackers […]
Read moreF.No. 225/188/2021/ITA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct taxes New Delhi, Dated 24th September, 2021 Order u/s 119 (2)(a) of the Income-tax Act, 1961 Subject: Regularisation of returns of income verified through Electronic Verification Code (EVC) which are otherwise required to be verified through Digital Signature (DSC) as per Rule 12 of the […]
Read moreIncome Tax for NRI: Non-resident Indian must pay income tax on income earned in India, which means they must pay tax on income that accrues or arises in India, according to Income Tax rules. NRIs must also pay tax on income deemed to have accrued or arisen in India. In India, money received or deemed to […]
Read moreGains on investments in assets such as shares and mutual funds are taxable. Dont take it lightly to tax income from shares and Mutual Fund just like other income. Equity shares are considered capital assets under the Income Tax Rules. As a result, Income Tax on equity shares profit is based on how long they’ve been […]
Read moreCBDT: On consideration of difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961(the “Act”), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and […]
Read moreAs the due date for submitting the Income Tax Return approaches, the Union Finance Ministry has announced that technical issues with the income tax portal are being resolved “progressively.” It also stated that there has been a positive trend in the submission of income tax returns on the newly launched website. A statement has been released […]
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