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 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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Tamil Nadu: Income-Tax dept conducts searches on IT Infrastructure company in Chennai and Madurai
Sat, Nov 07, 2020
The Income Tax (I-T) department has carried out searches at five locations in Chennai and Madurai in the case of a Chennai-based group operating in the IT Infrastructure sector. The search on November 4 had led to unearthing of evidence related to investments in a Singapore registered company.
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FM nudged tax practitioners to suggest their clients shift towards digital modes of payments
Sat, Nov 07, 2020
Finance Minister Nirmala Sitharaman on Friday said increased digitisation will help in making better assessment of the country's economic growth and nudged tax practitioners to suggest their clients to shift towards digital modes of payments.
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Tax raids on 66 premises of self-styled evangelist in Kerala; Rs 6 cr unaccounted cash seized by I-T dept
Fri, Nov 06, 2020
The Income-Tax department has carried out search and seizure operations on Thursday at premises of a self-styled evangelist of Thiruvalla in Kerala and his group of various trusts, the department said in a press release
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