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Income Tax is a tax imposed by the government on income generated by businesses and individuals. Taxpayers are required to file income tax return annually depending on their income tax slab. Income tax e-filing is also an option. More

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  • Income Tax Department extends deadline for filing declarations under VsV scheme till March 31 Feb 26, 2021 11:02 PM IST

    Income Tax Department extends deadline for filing declarations under VsV scheme till March 31

    The last date for filing declaration under VsV scheme was February 28, while for paying the disputed tax the date is March 31.

  • PayU-backed Fisdom acquires IT return filing startup Tax2win Feb 23, 2021 04:46 PM IST

    PayU-backed Fisdom acquires IT return filing startup Tax2win

    This move marks Fisdom’s entry into tax solutions segment, as part of the company’s plan to offer financial services for its customers and partners.

  • Budget 2021 has something to cheer for unorganised sector employees Feb 17, 2021 11:28 AM IST

    Budget 2021 has something to cheer for unorganised sector employees

    Gig, platform and home-based workers will now get social security benefits

  • This tax-saving season, avoid these common investment mistakes Feb 17, 2021 09:15 AM IST

    This tax-saving season, avoid these common investment mistakes

    Buying unnecessary life insurance policies, borrowing to invest for saving on taxes, and mixing financial and tax planning are best avoided

  • How tax-loss harvesting on investments can minimise your capital gains tax outflows Feb 15, 2021 08:51 AM IST

    How tax-loss harvesting on investments can minimise your capital gains tax outflows

    The strategy gainfully exploits the volatility of equities and also pushes tax liability to a later date

  • Despite Budget relaxation, taxpayers aged 75-plus may be better off filing I-T returns Feb 12, 2021 09:49 AM IST

    Despite Budget relaxation, taxpayers aged 75-plus may be better off filing I-T returns

    Budget’s concession on tax return filing for senior citizens comes with too many strings attached and more clarity is awaited

  • Tax on EPF interest: How will TDS be applied? Feb 09, 2021 09:33 AM IST

    Tax on EPF interest: How will TDS be applied?

    The income tax department has indicated that interest income from provident fund contributions over Rs 2.5 lakh will be taxed like fixed deposit interest

  • Budget 2021: A host of tax proposals for Individuals Feb 05, 2021 10:55 AM IST

    Budget 2021: A host of tax proposals for Individuals

    Without any additional tax or cess, the budget has done a fine balancing act

  • Budget 2021: Much to cheer for taxpayers on procedural changes Feb 04, 2021 11:11 AM IST

    Budget 2021: Much to cheer for taxpayers on procedural changes

    The easing of procedural norms for senior citizens, NRIs and advance tax payers is welcome

  • Budget 2021: A non-event from a personal finance standpoint Feb 03, 2021 11:01 AM IST

    Budget 2021: A non-event from a personal finance standpoint

    While there were announcements on procedural improvements in the Budget, there are no new tax benefits

  • INTERVIEW | Corporate tax collection in FY21-22 expected to be better than pre-COVID collections: CBDT chief Feb 02, 2021 09:07 PM IST

    INTERVIEW | Corporate tax collection in FY21-22 expected to be better than pre-COVID collections: CBDT chief

    In an exclusive interview with Moneycontrol, PC Mody said that committees like those on Direct Tax Code (DTC) were constituted in a certain context and with certain intent in mind and it's not essential that all the suggestions of such committees get implemented.

  • Budget 2021: Here’s how retail investors and taxpayers will be affected Feb 02, 2021 10:37 AM IST

    Budget 2021: Here’s how retail investors and taxpayers will be affected

    If those above 75 have income from rent and capital gains, they are not eligible for the exemption from filing tax returns

  • Budget2021: Didn’t file income tax returns? Be prepared for higher TDS Feb 01, 2021 09:10 PM IST

    Budget2021: Didn’t file income tax returns? Be prepared for higher TDS

    Budget 2021-22 a proposes steeper tax rate for those who have PAN, but don’t file income tax returns

  • What Budget 2021 means for taxpayers, investors and consumers Feb 01, 2021 08:27 PM IST

    What Budget 2021 means for taxpayers, investors and consumers

    From bringing tax parity between ULIPs and mutual funds to taking away traditional tax saving avenues of the well off, Budget 2021 aims to strike a balance

  • Budget 2021: Residency problem persists for NRIs, but retirement fund glitches removed Feb 01, 2021 06:47 PM IST

    Budget 2021: Residency problem persists for NRIs, but retirement fund glitches removed

    For NRIs stuck in India due to COVID-19, the tax problem persists. But mismatch in taxation period and retirement benefit funds will be addressed

  • Union Budget 2021 | Budget at glance, key takeaways; other details Feb 01, 2021 04:30 PM IST

    Union Budget 2021 | Budget at glance, key takeaways; other details

    Among major announcements in the Union Budget 2021, Finance Minister Nirmala Sitharaman revised the expenditure target for FY 2021 at Rs 34.50 lakh crore, while allocated Rs 1,10,055 crore for Railways. Here are all other details on which sector received what amount in the new Budget

  • Budget 2021 | Government wants to make Income-Tax department taxpayer-friendly Feb 01, 2021 03:33 PM IST

    Budget 2021 | Government wants to make Income-Tax department taxpayer-friendly

    Simplification of forms, I-T filing exemption to those above 75 years of age, reduction in tenure of reassessment, and faceless dispute redressal committees are the highlights.

  • Union Budget 2021: A list of key income tax updates announced by FM Sitharaman Feb 01, 2021 03:00 PM IST

    Union Budget 2021: A list of key income tax updates announced by FM Sitharaman

    Senior citizens aged 75 years and above, who only have pension and interest income, will not have to file income tax returns, Nirmala Sitharaman has said.

  • Budget 2021: Turned 75? No need to file income tax returns from next year Feb 01, 2021 02:52 PM IST

    Budget 2021: Turned 75? No need to file income tax returns from next year

    The relief in compliance is available if you earn only pension and interest income

  • Budget 2021: 10 changes that impact your personal finances Feb 01, 2021 01:52 PM IST

    Budget 2021: 10 changes that impact your personal finances

    From those above 75 not having to file tax returns to orderly recovery of money when banks go bad, here are 10 key personal finance announcements from Budget 2021

  • Budget 2021-22 | FM Sitharaman reduces timeline on reopening of tax assessments to 3 years versus 6 years Feb 01, 2021 12:58 PM IST

    Budget 2021-22 | FM Sitharaman reduces timeline on reopening of tax assessments to 3 years versus 6 years

    The Union Minister Nirmala Sitharaman also relaxed Income tax (I-T) filing for senior citizens above 75 years of age having only pension in the Budget 2021.

  • Budget 2021: The biggest income tax changes made by Modi government in past Budgets Feb 01, 2021 07:08 AM IST

    Budget 2021: The biggest income tax changes made by Modi government in past Budgets

    Budget 2021-22: Here are the most significant income tax changes made in Union Budgets presented by the Narendra Modi government.

  • What the common man wants from Budget 2021 Jan 28, 2021 10:07 AM IST

    What the common man wants from Budget 2021

    It’s time to increase the limit on Section 80C. Currently, this stands at Rs 1.5 lakh a year

  • Budget 2021-22 expected to incorporate recommendations of panel on direct tax code Jan 27, 2021 04:47 PM IST

    Budget 2021-22 expected to incorporate recommendations of panel on direct tax code

    The government had constituted the direct tax code task force to overhaul the Income Tax Act.

  • Budget 2021: Income taxpayers may get relief up to Rs 80,000 Jan 27, 2021 01:34 PM IST

    Budget 2021: Income taxpayers may get relief up to Rs 80,000

    Budget 2021: The various tax measures reportedly under consideration by Finance Minister Nirmala Sitharaman could provide relief of up to Rs 80,000 in the income tax liability of taxpayers.

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