Income-tax News
Will govt use Digiyatra data to crack down on tax evaders? Income tax department clarifies
India’s Income tax department on Monday, December 30 issued a clarification over reports on Digiyatra being used for cracking down on tax evaders. Check details on what the IT dept says…
1 min read30 Dec 2024Income Tax: How to e-verify your return? 5 Key points to know
Filing ITR: Typically, verification must be done within 30 days. Now since 30 days have elapsed from the time of submission of ITR data, the date of verification will be considered as the date of filing.
1 min read28 Dec 2024Income tax budget on ITR filing: Will FM Nirmala Sitharaman announce tax relief for taxpayers earning up to ₹15 lakh?
On February 1, 2025, Finance Minister Nirmala Sitharaman may announce income tax relief for middle-class taxpayers in the Union Budget.
3 min read07:25 AM ISTIncome Tax: New tax regime continues to allow these deductions and exemptions
Income Tax: Although the typical deductions for investment in the tax-saving instruments such as PPF, ELSS, KVP and NSC, have been phased out; taxpayers can still claim standard deduction
1 min read27 Dec 2024Income tax refund stuck? Your bank account perhaps not validated. This is how you can fix it
Taxpayers must make sure that a validated bank account is there for receipt of funds, failing which the refund will get delayed, the Income Tax Department has said in a recent social media post.
1 min read26 Dec 2024ITR filing: How the new tax regime impacts your taxes – 6 key things to know
The new tax regime (NTR) lets you compute your income tax at a lower rate slab, but it renders you ineligible to claim most tax exemptions and deductions against your invesments in tax saving instruments
2 min read25 Dec 2024ITR Filing for FY 2024-25: Before you make investment declaration, be aware of these 5 key points
ITR filing 2024-25: Now is the time of the year when you must make investment declaration in order to claim tax deduction
2 min read24 Dec 2024ITR filing: Last 1 week to go before these income tax deadlines expire on Dec 31
ITR filing: There are a few income tax deadlines that are set to expire on Dec 31. These include filing of belated return, Vivad Se Vishwas, and declaring of foreign assets & income via revised return
1 min read23 Dec 2024Can you avoid 30% capital gains tax on sale of cryptos? Here’s all about the new Income Tax Appellate Tribunal order
Cryptocurrency: By treating as capital gains which were taxed at 20 percent then, investors stand to save 10 percent. In this case, ITAT was hearing involved a person who bought cryptocurrencies worth ₹5.05 lakh in 2015-16 and sold them in 2020-21 for ₹6.69 crore, making a significant profit.
2 min read20 Dec 2024Income tax investment declaration: When you change job, this is what you should do
Income Tax: There are some taxpayers who don’t realise that the new employer must be told about the investment declaration made to the previous employer. Then, at the time of filing of tax return in July, they eventually realise that they have a tax liability
2 min read19 Dec 2024Popular Topics
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