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Income tax News
Country paying recap, banks can't get easy money, says Govt
Mon, Nov 13, 2017
It is the Indian taxpayer who will foot the bill for the banks` recent recapitalisation plan and the state-run lenders cannot expect to get easy money in this manner, the government said on Sunday.
Taxmen raid Jaya TV, associates, over suspected tax evasion
Thu, Nov 09, 2017
Income Tax sleuths today raided the premises of Jaya TV here and its associates over suspected tax evasion as part of 'Operation Clean Money', sources said.
We tell you the difference between allowance, deductions & exemptions
Thu, Nov 02, 2017
Tax Exemption means a part of your income which will not be taxable. These are available in two types, Partial Exemption and total exemption. Some incomes are fully exempt such as dividend earned from equity shares and some are exempt to an extent only, like transport allowance which is exempt only up to Rs 1600/- per month or less.
High Court allows woman to file Income Tax returns without Aadhaar card
Wed, Nov 01, 2017
The Madras High Court today allowed a woman to file her income tax returns without quoting Aadhaar number or Aadhaar enrolment number. Justice T S Sivagnanam passed the interim order on a plea by Preethi Mohan.
Now chat online with IT-department experts to clear your doubt in tax filing
Wed, Oct 18, 2017
A taxpayer can get their doubt answered by entering on official website of IT-department. There is an icon at the right side of website.
PFRDA introduces new measures for CPSE employees in National Pension System
Tue, Oct 10, 2017
NPS is a pension scheme regulated by the central government. This scheme mandatorily available for government employees and also open to Indian citizen on volantary basis.
Undisclosed property secret informer to get reward of Rs 1 crore
Sat, Sep 23, 2017
This segment of Zee Business brings you latest updates on undisclosed property. IT announces Rs 1 crore for undisclosed income informer. watch this clip to know more. About Zee Business --------------------------
Difference between Tax Planning, Tax Avoidance & Tax Evasion!
Tue, Sep 19, 2017
Tax planning is an art to reduce your tax outgo by making sure that all the applicable provisions of our income tax act as designed to reduce your tax liability has been availed of.
Things you should know about "Gift Tax" before receiving, giving this festive season
Mon, Sep 18, 2017
As per the Income Tax Act, 1961 if the value of gifts received is more than Rs 50,000 a year, then such amount is taxed as income in the hands of the receiver.
Direct tax collections rise 17.5% till August, Govt says
Mon, Sep 11, 2017
Direct tax collections in the current fiscal till August 2017 rose 17.5%, ministry of finance said. This collection is 22.9% of the total Budget Estimates of Direct Taxes for the Financial Year 2017-18, the statement said.
Two lakh companies struck off, bank accounts inoperable: Govt
Tue, Sep 05, 2017
The government said that since such ‘Struck off`’ companies have ceased to exist, action has been initiated to restrict the operation of bank accounts of such companies.
Rs 15.28 lakh crore old notes back in banks; was the demonetisation exercise a complete failure?
Thu, Aug 31, 2017
What was the real purpose of demonetisation? Zeebiz attempts to answer your queries.
Income Tax Department officials conduct massive raid in Delhi, NCR today
Mon, Aug 21, 2017
As per the report, the Income Tax searches have been made on some political leader.
Have you missed the due date of filing your Tax Returns?
Thu, Aug 17, 2017
The due date to file your tax return is 31st July of every year, but this date is not applicable to companies or those taxpayers whose books of accounts are subject to an audit, unlike salaried employees and certain taxpayers who are not supposed to get their accounts audited. PS: The due date to file your tax return for the previous financial year i.e. 2016-17 was 31st July 2017 but the same got extended to 5th August 2017.
Independence Day: From black money to note-ban, 10 things PM Modi said today
Tue, Aug 15, 2017
In fourth speech as Prime Minister of the country, Narendra Modi spoke about demonetisation drive and continuous effort to fight with black money.
7th Pay Commission: Central govt employees may have to pay income tax on allowances
Wed, Aug 09, 2017
The basic salary, bonus, allowances and other arrears as per 7th Pay Commission will come under the ambit of Income Tax as proposed in Finance Bill, 2017 which will lead government employees to pay tax on allowances.
Income Tax: Realised a mistake after IT return processed? This Section will help you rectify
Wed, Aug 09, 2017
A rectification request under section 154(1) is allowed by the Income Tax Department for correcting mistakes when there is an apparent mistake in your Income Tax Return.
Income Tax Returns filed rise 25%, advance tax collection up 41%
Mon, Aug 07, 2017
Central Board of Direct Taxes (CBDT) said, "As a result of demonetisation and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns(ITRs) filed. The number of Returns filed as on 05.08.2017 stands at 2,82,92,955 as against 2,26,97,843 filed during the corresponding period of F.Y. 2016-2017, registering an increase of 24.7% compared to growth rate of 9.9% in the previous year."
Income Tax: Failed to file ITR yesterday? File belated return now
Sun, Aug 06, 2017
You can still file belated return before the end of the assessment year. If you have not filed ITR for FY16-17, you can still file it till March 31, 2018.
Smooth filing of Income Tax returns in Chennai
Sat, Aug 05, 2017
Not much of a crowd of assesses was witnessed since many preferred to file their Income Tax Returns online.