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3 mins read
Wondering which ITR form is right for you? Know all about it here
It's time to file your ITRs! While the deadline is 31st July, it's best to not put off filing your …
3 mins read
Budget 2024: Increase standard deduction, exemptions and more, an aam aadmi's wishlist
Note that unless you specifically opt for the old regime, the new tax regime is considered as your …
3 mins read
ITR filing: Documents you need to file your income tax return
If you've paid premiums for a life or health insurance policy during the year, or invested in ELSS…
1 min read
Link PAN with Aadhaar by May 31 to avoid double TDS deduction: Income Tax Department
The income tax department on Tuesday asked taxpayers to link PAN with Aadhaar by May 31 to avoid ta…
PTI
2 mins read
Income Tax Department seizes record ₹1,100 crore cash and jewellery in Lok Sabha elections 2024
As per the sources, by the end of May 30th, the department had seized approximately Rs 1100 crore w…
ANI
2 mins read
IT department declares 363 as cost inflation index for current fiscal
The Cost Inflation Index (CII) for fiscal year 2024-25 is 363, used by taxpayers to calculate long-…
PTI
2 mins read
Received a tax mismatch notice from the IT department? Here is how to set it right
An income tax mismatch notice can happen due to several reasons. In an increasingly digital world, …
3 mins read
Last-minute rush: 5 things to do before March 31
March 31 is the end of the financial year and is often a busy time for accountants and bankers. Eve…
1 min read
Direct tax collections rise 18% so far in current financial year
The government's gross direct tax collections have risen by 16.77 per cent to touch Rs 17.18 lakh c…
1 min read
Here are the 10 states where the middle class pays the most in taxes and the 9 states where they pay no state income tax at all
For example, Tennessee (ranked No. 24), Texas (No. 21), and Washington (No. 5) are in the top half …
Cork Gaines
4 mins read
India’s Income Tax Burden: Mere 0.3% of adult population account for 76% of total personal IT receipts
Data shows that currently India has 66.5 million individuals who pay personal income tax, which is …
3 mins read
Tax implications on income of a minor – What every parent should know
Income earned by a minor child from activities involving their skills, talent, or specialised knowl…
1 min read
I-T dept conducts survey at some entities of Hinduja Group
The Income Tax department on Wednesday conducted a survey operation at some entities of the Hinduja…
PTI
1 min read
Colgate Palmolive gets Rs 170 cr Transfer Pricing Order from Income Tax authorities
Leading oral care products maker Colgate-Palmolive (India) has received a Rs 170 crore Transfer Pri…
PTI
3 mins read
Have foreign assets or income? Not disclosing it may lead to heavy penalties
Recently, the IT Appellate Tribunal of Mumbai imposed a penalty of ₹10 lakh per year on taxpayers w…
1 min read
GST Council likely to levy 18% tax rate on corporate guarantees for loans
The GST Council is likely to introduce an 18 per cent tax rate on corporate guarantees extended by …
2 mins read
Income Tax dept to hire 50 young law, accountancy grads for better litigation at ITATs
The Income Tax Department has decided to temporarily hire 50 young law and chartered accountancy gr…
PTI
4 mins read
Home loan tax deductions: Self-occupied vs rented, the differences
Buying a home is undoubtedly one of the biggest financial commitments in one’s life. And since it i…
6 mins read
Are you an NRI having income in India? Here’s how you will be taxed
You are a non resident Indian (NRI) if you live abroad. More specifically, you are classified as "n…
3 mins read
Made a mistake while filing tax returns? Here’s how to file a revised ITR
The process of revising a tax return involves making necessary updates and corrections to a previou…