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  • Filing income tax returns for the dead, the legal heir’s responsibility Oct 30, 2020 09:50 AM IST

    Filing income tax returns for the dead, the legal heir’s responsibility

    Legal heirs of the dead must file income-tax returns for income earned in the year the dead passed away. Legal heirs cannot just merge the income with their own income and file just one tax return

  • Govt extends deadline to make payment under Vivad Se Vishwas scheme till March 31 Oct 28, 2020 08:06 AM IST

    Govt extends deadline to make payment under Vivad Se Vishwas scheme till March 31

    The Direct Tax Vivad se Vishwas Act, 2020 was enacted on March 17, 2020 to settle direct tax disputes locked up in various appellate forums.

  • Putting off income tax return filing? Be prepared for heavy fines Oct 27, 2020 10:07 AM IST

    Putting off income tax return filing? Be prepared for heavy fines

    The due date for filing income tax returns has again been pushed back to December 31. Avoid interest and penalties by filing income tax returns before the due date

  • ITR filing date for AY20-21: CBDT extends deadline to December 31 Oct 24, 2020 03:28 PM IST

    ITR filing date for AY20-21: CBDT extends deadline to December 31

    For those who are required who are required get their ITR audited, the deadline for the procedure has been extended to January 31, 2021.

  • An easy-to-use guide to filing your income tax returns Oct 23, 2020 10:21 AM IST

    An easy-to-use guide to filing your income tax returns

    Filing your income-tax returns through the government’s e-filing portal is easy. Make sure you have all your documents ready

  • How to file a revised income tax return Oct 21, 2020 09:50 AM IST

    How to file a revised income tax return

    You can revise your income tax return as many times as you want. It’s useful if you forget to claim a deduction or declare an income while filing earlier

  • Income Tax mistakes: Avoid these errors while filing returns or you may get a notice Oct 20, 2020 10:09 AM IST

    Income Tax mistakes: Avoid these errors while filing returns or you may get a notice

    While claiming deductions, it is important to have proper knowledge of tax rules

  • These banks offer the best rates on tax-saving deposits Oct 16, 2020 11:11 AM IST

    These banks offer the best rates on tax-saving deposits

    Typically smaller banks offer higher rates than well-established banks

  • Decoding FM’s LTC Cash Voucher scheme: Should you opt for it? Oct 16, 2020 10:27 AM IST

    Decoding FM’s LTC Cash Voucher scheme: Should you opt for it?

    While opting for the LTC scheme, you must not end up overspending unnecessarily

  • How faceless tax assessment works Oct 16, 2020 09:09 AM IST

    How faceless tax assessment works

    Faceless assessment is expected bring positive changes to the assessment system, thereby saving travel time and cost for the taxpayer

  • LTC cash voucher scheme: More clarity needed on the tax angle Oct 15, 2020 09:43 AM IST

    LTC cash voucher scheme: More clarity needed on the tax angle

    It appears that the benefit of the LTC scheme will not be available to employees who have opted for the simplified tax regime

  • Use the correct ITR form or else your tax returns would be invalid Oct 14, 2020 10:37 AM IST

    Use the correct ITR form or else your tax returns would be invalid

    Seven ITR forms are available for you to file returns. Complete disclosure of your income is not enough. Make sure you use the correct form, too

  • Missed claiming tax deductions in investment declarations? Do it while filing returns Oct 13, 2020 09:56 AM IST

    Missed claiming tax deductions in investment declarations? Do it while filing returns

    So long as you make your tax-saving investments or incur certain expenses within March 31 (July 31 this year), you are still allowed tax deductions

  • How to disclose dividends and capital gains on MFs while filing tax returns Oct 13, 2020 09:44 AM IST

    How to disclose dividends and capital gains on MFs while filing tax returns

    Sale proceeds from mutual funds are taxed, depending on how long you’ve held on to them

  • Festive demand booster: Encash your LTC and spend it on goods Oct 12, 2020 08:53 PM IST

    Festive demand booster: Encash your LTC and spend it on goods

    To improve demand in the upcoming festive season, the finance minister announced additional leave travel allowance benefits to be used before March 31, 2021. But many clarifications are awaited

  • FM announces Special Festival Advance of Rs 10,000 for government employees to spur consumer spending, stimulate demand Oct 12, 2020 01:36 PM IST

    FM announces Special Festival Advance of Rs 10,000 for government employees to spur consumer spending, stimulate demand

    The money so received by employees cannot be withdrawn in cash.

  • All about how dividends would be taxed from this fiscal Oct 09, 2020 09:20 AM IST

    All about how dividends would be taxed from this fiscal

    Dividends would be taxed in the hands of the recipients and not companies or fund houses

  • Tax returns: Made high-value transactions or large investments? The new Form 26AS captures it all Oct 09, 2020 09:04 AM IST

    Tax returns: Made high-value transactions or large investments? The new Form 26AS captures it all

    The form reflects not just TDS deducted by your employer or bank, but also details of various financial transactions

  • Why you need to file returns even if your employer deducts full taxes Oct 07, 2020 09:01 AM IST

    Why you need to file returns even if your employer deducts full taxes

    You need to file returns even if your income falls below the basic threshold after all deductions

  • Confused over scrip-wise disclosure of gains in tax returns? Here’s help Oct 06, 2020 09:15 AM IST

    Confused over scrip-wise disclosure of gains in tax returns? Here’s help

    Brace yourself for a tedious process while disclosing LTCG in your income tax return forms

  • CGA data: Declining trend in corporate tax collection remains a worry Oct 01, 2020 02:59 PM IST

    CGA data: Declining trend in corporate tax collection remains a worry

    The government's net direct tax collection fell 31 percent year-on-year to Rs 1.92 lakh crore in April-August 2020, Minister of State for Finance Anurag Singh Thakur said in Parliament. Net direct tax collection was Rs 2.79 lakh crore in April-August 2019.

  • Fiscal deficit at August-end at nearly 110% of budget estimates Sep 30, 2020 06:13 PM IST

    Fiscal deficit at August-end at nearly 110% of budget estimates

    Finance Minister Nirmala Sitharaman has assured repeatedly that there will be no compromise on capital expenditure by the centre and the state-owned companies. However, data showed that the centre’s capital expenditure of Rs 22,598 crore in August was the lowest among all months so far this year

  • Sending funds abroad? Be aware of the 'tax collected at source' rules Sep 30, 2020 09:18 AM IST

    Sending funds abroad? Be aware of the 'tax collected at source' rules

    This tax was proposed in the Union Budget 2020 and will be applicable from October 1

  • Big Story | In what could increase taxpayers' burden, ITR filing becomes more cumbersome Sep 22, 2020 05:15 PM IST

    Big Story | In what could increase taxpayers' burden, ITR filing becomes more cumbersome

    So, what has promoted the IT department to introduce these changes. Let’s find out in this edition of Big Story

  • Exclusive: Government holds discussion on tax breaks for hospitality sector to revive demand Sep 11, 2020 03:39 PM IST

    Exclusive: Government holds discussion on tax breaks for hospitality sector to revive demand

    Tax breaks may be in the offing for the sector which could do with a boost after a punishing spell during the lockdown

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