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Nov 17, 2022 07:43 PM IST The raids were conducted on October 20 and November 2 at about 50 premises in Bengaluru, Mumbai and Goa.
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Nov 11, 2022 09:29 AM IST According to analysts, the surge in bonus issues this year was due to a change in the tax rules aimed at stopping the practice of bonus stripping, which kicks in on April 1.
- Nov 03, 2022 09:36 AM IST
In the common ITR form, tax filers will be required to answer questions in 'yes' or 'no' format and additional information will be asked accordingly.
- Oct 27, 2022 08:37 AM IST
Spend some, save some and plan your investments and taxes. First-time salary earners should learn the ropes of money management quickly to ensure they don’t squander their money away.
- Oct 04, 2022 10:08 AM IST
Tax rates on capital gains from equities, mutual funds and real estate are higher compared to domestic investments.
- Oct 03, 2022 11:37 AM IST
Finance minister Kwasi Kwarteng sent shockwaves through financial markets when he published a mini-budget on Sept. 23, cutting taxes including the 45p highest rate of income tax, in a plan to be funded by vast government borrowing.
- Sep 29, 2022 06:35 PM IST
Availing deductions under section 80C is the go-to for every taxpayer. But what most don’t realise is that these benefits can be reversed too if they don’t fulfil the required conditions. One can claim these deductions only when these specified conditions are fulfilled, failing which the entire deduction amount claimed in the previous year will be considered as income for the next financial year.
- Sep 27, 2022 09:22 PM IST
Addressing tax officers, the minister said that collections from direct taxes exceed indirect tax and that has brought in equity in mop up.
- Sep 27, 2022 07:43 PM IST
Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta said the income and corporate tax collections were at a record high of Rs 14.09 lakh crore in 2021-22.
- Sep 23, 2022 08:52 AM IST
You can invest in stocks in the US or property in Dubai to diversify your investment portfolio. But first, understand the pros and cons of investing overseas.
- Sep 20, 2022 08:17 AM IST
Section 10 (10D) of the Income-tax Act decides whether the maturity proceeds of your life insurance policy will be tax-free or not.
- Sep 09, 2022 10:34 PM IST
The tax department launched the survey operation on September 7 against about six such organisations in the country and sources had said the taxman looked at their balance sheets vis-a-vis the receipt of funds via the Foreign Contribution Regulation Act (FCRA).
- Sep 09, 2022 08:31 PM IST
This collection is 37.24 percent of the total Budget Estimates of Direct Taxes for 2022-23, the Income Tax Department said.
- Sep 05, 2022 10:39 AM IST
The notification is silent on the due date for filing revised claims. Does this mean there is no time limit for filing Form 67 in case of revised returns and an individual can file it as and when he/she has the information? Or, should an individual submit it before filing the revised returns?
- Sep 04, 2022 06:24 PM IST
The income tax department had in May this year notified a form for filing updated income tax returns (ITRs). The taxpayer will have to pay an additional amount over and above the due tax while filing ITR-U.
- Sep 03, 2022 12:16 PM IST
Corporate tax refunds of Rs 53,158 crore have been issued in 1,46,871 cases, the income-tax department said.
- Sep 02, 2022 08:57 AM IST
Many taxpayers have been getting letters from the income tax department about tax calculation differences. But not all such letters demand additional payment.
- Aug 19, 2022 12:49 PM IST
Dolo650 makers say that the Income Tax sleuths have collated the total marketing expenditure from all divisions of the company for past several years to arrive at a 1000 crore figure.
- Aug 18, 2022 08:56 PM IST
According to the latest directions, a show cause notice will be mandatorily issued by the assessing officer (AO) to a taxpayer in whose case "any variation prejudicial to the interest of the assessee is proposed" or to say where an action against the assessee is proposed.
- Aug 17, 2022 07:05 PM IST
For tax returns filed by July 31, 2022, time limit to verify remains the same, that is, 120 days from the date of filing the tax return
- Aug 17, 2022 08:18 AM IST
The due date for filing your income tax return for the assessment year 2022-23 is past. But you can still revise the return if there is a need, file a belated return or an updated return.
- Aug 15, 2022 09:35 AM IST
Stringent conditions make taxation benefits for those above 75 years of age pointless.
- Aug 11, 2022 08:47 PM IST
The searches were launched on August 3 and more than 30 premises of the two entities in Jalna, Aurangabad, Nashik and Mumbai were covered.
- Aug 05, 2022 10:46 PM IST
Income Tax (I-T) Department carried out raids on sharebrokers, middlemen, and entry operators related to fund manager Viresh Joshi who was fired in May.
- Aug 03, 2022 12:12 PM IST
The process of filing of I-T return is not complete unless you verify the filing either online or offline. For returns filed before July 31, 2022, the time limit is up to 120 days. For returns filed on or after August 1, it is 30 days
