Income Tax Calculator
This is an income tax calculator to calculate income tax returns filing for the current year. You can use this free income tax calculator to figure out your income tax.
'How to file income tax' is on everyone's mind and we bring you a simple income tax calculator to figure out how much income tax you have to file during your income tax returns filing for the current assessment year.
This income tax calculator also provides latest income tax slabs based on your income and takes into account your various incomes and deductions that are available to you in Income tax Act. Income Tax has to be filed by every individual who earns more than Rs 2.5 lakh in an assessment year. You will need your Form 16 from your company in order to file your Income Tax Returns. One can fill Income Tax online.
Income Tax
Income Tax Return 2019-20: More than 4.06 crore persons filed return till December 25 | Hurry ! Last date is December 31
Sat, Dec 26, 2020
The deadline to file I-T returns by individual taxpayers for the 2019-20 fiscal (AY 2020-21) ends on December 31, while the same for taxpayers whose accounts require to be audited is January 31, 2021.
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I-T department detects black income of Rs 100 crore after raids on contractors in Assam
Sat, Dec 26, 2020
Unaccounted income of Rs 100 crore has been detected after the income tax department raided three "leading" contractors of Northeast India based in Assam early this week, the CBDT said on Saturday.
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ITR verification through net banking - Know important facts and how to verify
Fri, Dec 25, 2020
ITR verification through net banking: If you have still not done your income tax returns (ITR) filing for the financial year 2019-20 (April-March), then do so now as last date is looming. ITR filing last date is December 31. After this, if you file your ITR, there could be a penalty slapped on you. However, there is another important thing you have to look out for and we explain how to do ITR verification
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ITR filing is important, so is verification, else you are in trouble; Do it this way to avoid penalty
Wed, Dec 23, 2020
Your Income Tax Returns (ITR) filing deadline is looming and it will be ending in just a week’s time. Hoping and praying that the government extends the last date is not the best strategy to adopt. The last date for filing your tax returns is 31st December. If you have still not filed it, then this is the time to do it. If you file after this date, then you will be required to pay a fine or penalty
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INCOME TAX RETURNS filed in 2020 versus 2019 – Where does the country stand in this pandemic year? Check comparison
Tue, Dec 22, 2020
As many as 3.75 cr taxpayers have already filed their Income Tax returns for Assessment Year 2020-21 (fiscal year 2019-20) till December 21, the Income Tax department said on Tuesday. Giving a comparative analysis of the ITRs filed, the Income Tax department further said that the number of ITRs filed till 21 August 2019 were 3.63 crore
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Income Tax refunds alert! Important ITR message from CBDT - What I-T return filers should know
Thu, Dec 17, 2020
Income Tax Refunds: In a major development, the income tax department has said that it has issued refunds of over Rs 1.48 lakh crore to more than 1.02 crore taxpayers till December 14.
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Pune real estate alert! Income Tax department conducts searches in 29 locations of Panvel and Vashi - Here is what I-T officials found from leading builders
Wed, Dec 16, 2020
In a major development, the Ministry of Finance has confirmed that the Income Tax Department carried out search and survey action on 10.12.2020 in the cases of leading builders and entry operators in the Panvel region of Pune.
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QRMP: Modi government launches new scheme for small GST taxpayers - Are you eligible? Check here
Sun, Dec 06, 2020
Taxpayers can make GST payments through challan every month either by self-assessment of monthly liability or 35 per cent of net cash liability of previous filed GSTR-3B of the quarter.
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Income Tax alert! Big decision taken under 'Vivad Se Vishwas' scheme - All you need to know as a taxpayer
Sun, Dec 06, 2020
'Vivad Se Vishwas' scheme provides for settlement of disputed tax, disputed interest, disputed penalty or disputed fees in relation to an assessment or reassessment order on payment of 100 per cent of the disputed tax and 25 per cent of the disputed penalty or interest or fee.
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Income Tax calculator: How to find your taxable income?
Thu, Nov 26, 2020
Income Tax calculator: The last date to file income tax returns is not so far and most salaried people would have started making calls to their financial advisors for the same. Whether you are working for a company or run a business, you have file income return and pay tax.
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Income tax return forms: Here’s Your Definitive Guide to Various ITR Forms
Thu, Nov 26, 2020
The Government has extended the deadline to 31st December, 2020 and 31st January, 2021 for taxpayers. Mr. Rahul Jain, Head of Edelweiss Wealth Management guides taxpayers through the last minute hassle of filing various ITR forms. With proper classification, he has mentioned the 7 forms which needs to be filled as per the purpose. The extension of income tax return filing for FY 2019-20, was one among the several relief measures announced by the Government, given the COVID-19 pandemic. The date was extended to November 30, for all taxpayers versus the usual deadline of July 31.
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Got an income tax notice from CBDT? Do not panic, here is how you need to react
Fri, Nov 20, 2020
A simple income tax notice from CBDT can cause serious panic in a household. The notice can be served in case of a discrepancy in the income tax amount calculated and paid by you while filing your income tax return (ITR) and that computed by the income tax department.
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NPS tax-free for all in Budget 2021? Pension fund regulator PFRDA to propose this to Modi government - All you need to know
Sun, Nov 15, 2020
NPS: Employers' contribution of 14 per cent in pension under the National Pension System (NPS) scheme for the central government employees was made tax free from April 1, 2019.
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Who will benefit from government’s relaxations in housing tax? Find out
Fri, Nov 13, 2020
Finance Minister Nirmala Sitharaman on Thursday announced several measures to provide relief to different sectors in the COVID-19 hit economy. One of the most significant announcement came in the form of relaxations in income tax rules to allow sale of primary residential units of up to Rs 2 crore value below the circle rate.
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