ITR filing

Income Tax Benefits Available On Housing Loan

Income Tax Benefits Available On Housing Loan

The administration has given several Income tax benefits to the assessee on accommodation loans. Income Tax Act offers tax advantages on refunding a principal constituent of loan and refunding interest constituent of loan. In this article, we will discuss on Income Tax Benefits Available On Housing loans. Income Tax Benefits Available On Housing Loan Deduction … Read more

Income tax Dept doesn’t consider iPad a Computer

Income tax Dept doesn't consider iPad a computer

Most of us might have used an iPad as a replacement for office computers while working from home. From writing emails to attending video calls for work, people used the iPad for several computing purposes. As a result, there was a lot of confusion about whether someone can claim tax depreciation on the iPad at … Read more

Income Tax dept detects illegal export of medicines

Income Tax dept detects illegal export of medicines

After conducting investigations at sites connected to an organization involved in the sale of telecom equipment, the Income Tax Department uncovered massive illicit exports of pharmaceuticals from India to China, officials said. In this article, we will discuss this latest news of Income Tax dept detects illegal export of medicines in detail. Illegal export of … Read more

Income Tax Department issues I-T refund worth Rs 47,318 crore

Income tax department issues I-T refund worth Rs 47,318 crore

As we all know, the income tax department issues I-T refund to taxpayers in India. These refunds are released after taxpayers do ITR Filing. This year too, the Income-tax department issues refunds. These refunds are worth thousands of crores. Let us discuss this latest update in detail. Income tax department issues I-T refund  The I-T department … Read more

Income Tax Department launches dedicated emails for taxpayers grievances

Income Tax dept launches dedicated emails for taxpayers’ grievances

Good news for taxpayers, as the Income-tax department has launched three new official email addresses. The Income Tax Department launches dedicated emails for taxpayers’ grievances. The government said the decision is intended to further improve services in accordance with the taxpayers’ charter. In this article, we will read about this latest update of new emails … Read more

CBDT extends due dates for electronic filing of various forms

CBDT extends due dates for electronic filing of various forms

A major update and relaxation for taxpayers as CBDT extends due dates for electronic filing of various forms. In other words, considering the problems faced by taxpayers, the Indian government has given a major relaxation for fulfilling compliances under Income-Tax Act, 1961. In this article, we will understand the latest update by CBDT in detail. CBDT … Read more

Income Tax Raid Conducted on Dainik Bhaskar

Raid conducted on Dainik Bhaskar group

The income tax department on Saturday claims that the Dainik Bhaskar group allegedly evaded taxes of Rs 700 Crore over a time span of 6 years. On conducting a raid it is found that Bhaskar evaded such a tremendous amount of taxes by fake companies assigned to their employee’s names to “book bogus expenses” and … Read more

Govt Collects Rs 2.41L Cr From Income Tax In Q1

Govt Collects Rs 2.41L Cr From Income Tax In Q1

As per the statement of the Finance Ministry India, the Govt collects Rs 2.41L cr from income tax as a direct tax in the first quarter of 2021 i.e. April to June. In the same period, the government of India has collected Rs.1.01 lakh crore on excise duty. At Lok Sabha, the finance minister Mr. Pankaj … Read more

Step-by-Step Guide to File Income Tax Returns Online & Offline

Step-by-step guide to file income tax returns Online & Offline

A step-by-step guide to file income tax returns Online & Offline is going to be very helpful for all of us.  As we all know, ITR filing is mandatory for every salaried person having an income of over 2.5 Lakhs. Furthermore, if you have no tax liability, even then you have to file ITR. However, … Read more

CBDT extends due date to file Form 15CA/15CB manually

CBDT extends due date to file Form 15CA15CB manually

Big relaxation for taxpayers and foreign currency remitters as CBDT extends the due date to file form 15CA/15CB manually. Many taxpayers reported various issues in the new income tax portal while filing form 15CA/CB. Therefore, addressing this issue CBDT extended the deadline to file these forms. In this article, we will understand this notification in … Read more