Suppose you are looking at selling your ancestral property or buying a piece of land or an apartment, the first question that will demand an answer is what the value of the property is. … READ FULL STORY
PAN (Permanent Account Number) Card is a critical document in India for financial transactions and tax purposes. It is equally significant for non-residential Indians (NRIs). This article will discuss the importance of NRI PAN … READ FULL STORY
March 11, 2024: The income tax (I-T) department is set to launch a virtual campaign to under which it would reach out to taxpayers who have made significant transactions but have not commensurate taxes. According … READ FULL STORY
March 5, 2024: The Income Tax (I-T) Department is in the process of sending notices to some taxpayers for income tax returns (ITRs) filed for assessment year (AY) 2021-22 (FY2020-21). Notices will be sent … READ FULL STORY
Form 26AS and pre-filling of tax returns have made filing of tax returns simpler and easier, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman said while presenting the Interim Budget 2024-25 in Parliament … READ FULL STORY
In the Indian financial landscape, PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are two crucial identification numbers issued by the Income Tax Department. While both are alphanumeric codes, they … READ FULL STORY
January 3, 2024: The income tax (I-T) department has recorded a surge in filing of income-tax returns (ITRs). This has resulted in a new record of 8.18 crore ITRs being filed for the assessment year … READ FULL STORY
September 6, 2023 The Income Tax Department has verified 6.84 crore income tax return forms (ITRs) as on September 5, 2023. A total of 6.98 crore ITRs were filed for the assessment year (AY) … READ FULL STORY
August 28, 2023: To enhance taxpayer experience and keep pace with new technology, the income tax department has revamped its website, www.incometaxindia.gov.in . The website now has a user-friendly interface, value-added features, and new modules, the department … READ FULL STORY
Income Tax (I-T) is levied by the government of India on the income of every person in India. The provisions governing the I-T are covered under the Income-tax Act, 1961. The last date to … READ FULL STORY
July 20, 2023: Non-resident Indians (NRIs) and foreign citizens whose permanent account numbers have been made inoperative because those were not linked with Aadhaar, should submit documentary proof of their residential status with their … READ FULL STORY
July 17, 2023: Union finance minister Nirmala Sitharaman has said that the government has provided several tax benefits to middle-class people, including income tax exemption for those earning up to Rs 7.27 lakh per … READ FULL STORY
According to guidelines issued by the Central Board of Direct Taxes (CBDT), June 30, 2023 was the last date for linking of PAN and Aadhaar card by paying a late fee of Rs 1,000. … READ FULL STORY
