Income tax
Understanding income tax is crucial for managing your finances. Discover how income tax works, learn about tax brackets, deductions, and credits. Stay informed about changes in tax laws and filing requirements. Navigate the world of taxation with confidence and ensure you make the most of your financial opportunities.
Created on: 12/23/2023
Home Cash Limits Income Tax Rules Unveiled Breakdown
Following Income Tax raids that uncovered a staggering Rs 351 crore in cash at the premises of Congress MP Dhiraj Prasad Sahu, the politician has addressed the issue.
Created on: 12/22/2023
Income Tax Refund Interest Guidelines Calculation
In some instances, a taxpayer might receive a refund surpassing their eligible amount. According to Section 234D of the Income Tax Act, the IT department can reclaim this surplus, accompanied by interest.
Created on: 12/22/2023
Advance Tax Collection Direct Tax Record High
The surge in advance corporate tax is particularly noteworthy, with a growth rate of 21.11%, representing a significant increase from Rs 3.97 lakh crore last year to Rs 4.81 lakh crore in the current fiscal year.
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Created on: 12/22/2023
Income Tax Department Latest Tax Information Network TIN-2
The new e-Pay tax payment platform TIN 2.0 serves as the official portal of the income tax department, aiming to offer taxpayers a streamlined access point for various income tax-related services, including tax payments.
Created on: 12/21/2023
Home Cash Limits Income Tax Rules Breakdown
Following Income Tax raids that uncovered a staggering Rs 351 crore in cash at the premises of Congress MP Dhiraj Prasad Sahu, the politician has addressed the issue.
Created on: 12/20/2023
Income Tax Returns FY-2022-2023 Deadline December 31-2023
The end of the year is so close and it’s better not to wait anymore, act now! Filing your income tax return (ITR) for the financial year 2022-2023 is crucial.
Created on: 12/20/2023
ITAT Relief Taxpayers Deduction Section 54 Revisionary Order
The Delhi bench of the Income-tax Appellate Tribunal (ITAT) has overturned a revisionary order from the Principal Commissioner of Income-tax.
Created on: 12/19/2023
What Is Form 12bb: Purpose, Sample & Declarations In 12BB
Form 12BB is a document used for providing details of claims and deductions made by an employee for tax-saving purposes to their employer.
Created on: 12/19/2023
Income Tax Refund Relief Filers ITR News
Positive Update For Those Awaiting Income Tax Refunds: Individuals who haven't received their tax refunds for FYs 2017-18, 2018-19, and 2019-20 will now be able to receive them by January 31, 2024.
Created on: 12/19/2023
IT Dept Discovers Rs 351 Crore Black Money Stash Raid
After tallying the contents of 140 out of 176 cash bags, the Income Tax department has quantified what is emerging as the 'highest-ever' black money discovery in a single operation by any agency.
Created on: 12/19/2023
December 31 Deadline Belated ITR Filing Consequences
The original deadline for filing Income Tax Returns (ITRs) for the financial year 2022-2023, corresponding to the assessment year 2023-2024, was July 31, 2023.
Created on: 12/19/2023
Latest ITR Update Taxpayers Fine Unfinished Task December 31
However, taxpayers have the option to file ITR for this financial year at any time within the next 24 months (up to March 31, 2026), albeit with associated penalties and interest.