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IT returns News
1600 returns filed for salary income over Rs 5 crore in FY16: CBDT
Wed, Dec 20, 2017
Only 1,648 taxpayers reported salary income above Rs 5 crore in the AY 2015-16, statistics by CBDT revealed.
How to pay tax on bitcoins profit?
Sun, Dec 17, 2017
Dhiraj recently sold a Bitcoin worth Rs 2,75,000/- after the money what he invested in it got doubled. But he is not aware whether he need to pay tax on this or not and if tax needs to be paid then under what income tax head and how much! Let’s understand: -
10 things to note for filing income tax on mutual fund investments
Sat, Dec 09, 2017
‘Whenever there will be income, there will be tax.' Ten things to note for tax paid on mutual fund investments.
Demonetisation resulted in 56 lakh people becoming IT payees: VP
Thu, Nov 23, 2017
The demonetisation exercise undertaken by the government last year has resulted in 56 lakh people joining the ranks of Income Tax payees, Vice President Venkaiah Naidu said here today.
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.
Govt may pull up tax evaders via social media posts from next month
Fri, Jul 28, 2017
To catch those who try to escape the taxman the government has been working on Project Insight which monitors people’s social media posts to match spending patterns with tax declarations.
Income Tax filing: Here's what you need to remember; Sahaj, Aadhaar, PAN
Tue, Jun 27, 2017
Quoting Aadhaar card for filing IT returns will become mandatory from July 1. Here's what you need to keep in mind
Replying to income tax scrutiny notices will be soon just a click away
Sun, Jun 11, 2017
Replying to income tax scrutiny notices with supporting documents will soon be just a click away.
10.52 lakh bogus PAN cards cannot be termed minuscule number to harm economy, says Supreme Court
Sun, Jun 11, 2017
As many as 10.52 lakh "bogus" PAN cards of individual income tax assesses, which is around 0.4 % of the total such documents, cannot be termed a "minuscule" number to harm the country's economy, the Supreme Court has said.
Tax payers to link Aadhaar to PAN in filing returns from July 1: CBDT
Sat, Jun 10, 2017
All tax payers who have been allotted Permanent Account Number (PAN) should intimate their Aadhaar number to the income tax authorities for the purpose of linking both the numbers, the Central Board of Direct Taxes (CBDT) said on Saturday, a day after the Supreme Court upheld the law in this rega
SC likely to pronounce verdict on linking Aadhaar with PAN for IT returns today
Fri, Jun 09, 2017
The Supreme Court (SC) is likely to pronounce its verdict on the petitions challenging constitutional validity of newly-inserted section in the Income Tax Act that makes linking of Aadhaar number with PAN mandatory for filing Income Tax (IT) returns on Friday.
I-T department launches online facility to correct errors in PAN, Aadhaar
Sun, May 14, 2017
The Income Tax department has launched an online facility to correct errors in names and other details in permanent account number (PAN) and Aadhaar document.
Now, link Aadhaar with PAN with ID proof scan, OTP
Sun, Apr 09, 2017
The tax department will start educating taxpayers from this week through media outreach on ways to link the PAN with Aadhaar.
Govt orders departments, states to ensure privacy with Aadhaar card details
Mon, Apr 03, 2017
Indian government ordered its central departments and states to maintain strict privacy of Aadhaar card details of people, a report by ET Now said on Monday.
Government embarrassed as Rajya Sabha returns Finance bill with amendments (Roundup)
Thu, Mar 30, 2017
The Narendra Modi government on Wednesday faced embarrassment in the Rajya Sabha as five of the amendments moved by the opposition to the Finance Bill, 2017, were adopted by division before the bill was returned to the Lok Sabha.
Income Tax Department to launch simplified e-filing of ITR form from April 1
Wed, Mar 29, 2017
Income Tax Department will introduce simplified e-filing of Income Tax return form on April 1 this year which will do away with some columns while filing the the IT returns.
PAN invalid if not linked to Aadhaar card? Here’s how to link the two
Fri, Mar 24, 2017
Government officials said that the Permanent Account Number card could be rendered useless by December 31 if not linked to the Aadhaar card, a report by Hindustan Time said on Thursday. Currently, the PAN card was the necessary document while filing for IT returns.
Aadhaar card to be mandatory for filing income tax returns, applying for PAN card?
Tue, Mar 21, 2017
The government of India has made the Aadhaar card mandatory to file for income tax returns and also to apply for a permanent account number (PAN), a report by Hindustan Time said on Tuesday.
Nine lakh accounts under Operation Clean Money 'doubtful'
Thu, Feb 16, 2017
Nearly half of the 18 lakh people under the I-T scanner for suspicious bank deposits post cash ban have been put in the 'doubtful' category, but action against them will follow only after the new tax amnesty scheme ends on March 31.
Pay IT dues in advance to avoid last minute rush, says RBI
Thu, Nov 17, 2016
Reserve Bank has asked income tax assessees to pay their dues in advance for December quarter and has designated a total of 29 banks at which the payments can be done.