Income Tax Assessment
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Reader Friendly, Tables For Calculation Among Key Features Of New Income Tax Bill
The simplified Income Tax Bill 2025, which brings in the concept of 'tax year' and abolishes the archaic and complicated terms 'previous' and 'assessment years', is likely to be introduced in Parliament on Thursday.
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Budget 2025: Nirmala Sitharaman Says Will Introduce New Income Tax Bill Next Week
A new income tax bill - a direct tax code meant to simplify compliance for individual taxpayers - will be introduced next week, Finance Minister Nirmala Sitharaman said Saturday as she presented the Union Budget 2025.
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Opinion | Why Over Half Of All Income Tax Filings In India Are Zero-Tax
In terms of value, 84% of corporate filers contributed almost nothing to the total corporate tax collections of Rs. 7.16 lakh crore in the assessment year 2023-24.
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"Ask Infosys Team...": Chartered Accountant's Dig At Narayana Murthy Over ITR Website Glitches
As the July 31 deadline for filing the Income Tax Return (ITR) for the assessment year 2024-25 approaches, technical glitches in the income tax portal developed by Infosys have led to frustration among chartered accountants.
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Hero MotoCorp Gets Demand Notice Of Rs 605 Crore From Tax Body
The country's largest two-wheeler maker Hero MotoCorp on Thursday said it has received demand notices from the Income Tax department for around Rs 605 crore, including interest, for six assessment years.
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Infosys Receives Rs 341 Crore Tax Demand For Assessment Year 2020-21
Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order.
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Expecting Refund Of Rs 6,329 Crore From Income Tax Department, Says Infosys
Infosys expects a refund of Rs 6,329 crore from the Income Tax Department, the country's second largest IT services company said. It also informed the stock exchanges about tax demand to the tune of Rs 2,763 crore, citing various assessment orders.
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Tax Assessments Against Congress Based On Incriminating Evidence: Sources
Income tax notices to the Indian National Congress were issued back in March 2023 and the assessment proceedings demanded for those seven years, as per law, were set to get time barred on March 31, 2024, according to sources.
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High Court Dismisses Congress's Plea Against Tax Re-Assessment By Income Tax Officials
The Delhi High Court today rejected petitions by the Congress challenging the initiation of tax reassessment proceedings against it for a period of four years by tax authorities.
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Supreme Court Defers Hearing Of Income Tax Assessment Case Of Gandhis Till December 13
The Gandhis had opposed the transfer of their cases to the Central Circle on several grounds including that they have nothing to do with the Sanjay Bhandari group's cases.
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Bombay High Cout Orders Tax Refund Of ₹1,128 Crore To Vodafone Idea
The Bombay High Court has directed the Income Tax department to refund Rs 1,128 crore to Vodafone Idea Limited paid by the telecom operator in taxes for the assessment year 2016-2017.
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Last Day To File Income Tax Returns (ITR): What Happens If You Miss Deadline
ITR Filing Last Date Today: The deadline to file the income tax returns (ITR) for the assessment year 2023-24 ends today. As per the latest update, over 6 crore ITRs had been filed till 6:30 PM on July 30.
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ITR Filing: How to Check IT Return Status Online
The deadline to file ITR (Income Tax Return)Â without any late fee is approaching closer. The last date to file ITR for assessment year 2023-24 is July 31. So far, the Income Tax Department has not announced any extension in the last date for filing ITR. One can easily file ITR online using a few simple steps. Once the ITR is filed, all taxpayers a...
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ITR Filing Deadline Is Here: How to File Income Tax Return Online in Simple Steps
ITR (Income Tax Return) filing deadline for the assessment year 2023-24 is July 31. With the last date just around the corner, a lot of taxpayers are rushing to file their returns. The Income Tax department has not announced any extension on the last date for filing the ITR, hence leaving taxpayers with less than five days to complete the process.
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What Happens If You Don't File Your Income Tax Return By July 31
The deadline to file the income tax return (ITR) for the assessment year 2023-24 is set to end on July 31. Taxpayers who fall under the taxable bracket, are advised to file their return at the earliest to avoid any last-minute panic or delay.
-
Reader Friendly, Tables For Calculation Among Key Features Of New Income Tax Bill
The simplified Income Tax Bill 2025, which brings in the concept of 'tax year' and abolishes the archaic and complicated terms 'previous' and 'assessment years', is likely to be introduced in Parliament on Thursday.
-
Budget 2025: Nirmala Sitharaman Says Will Introduce New Income Tax Bill Next Week
A new income tax bill - a direct tax code meant to simplify compliance for individual taxpayers - will be introduced next week, Finance Minister Nirmala Sitharaman said Saturday as she presented the Union Budget 2025.
-
Opinion | Why Over Half Of All Income Tax Filings In India Are Zero-Tax
In terms of value, 84% of corporate filers contributed almost nothing to the total corporate tax collections of Rs. 7.16 lakh crore in the assessment year 2023-24.
-
"Ask Infosys Team...": Chartered Accountant's Dig At Narayana Murthy Over ITR Website Glitches
As the July 31 deadline for filing the Income Tax Return (ITR) for the assessment year 2024-25 approaches, technical glitches in the income tax portal developed by Infosys have led to frustration among chartered accountants.
-
Hero MotoCorp Gets Demand Notice Of Rs 605 Crore From Tax Body
The country's largest two-wheeler maker Hero MotoCorp on Thursday said it has received demand notices from the Income Tax department for around Rs 605 crore, including interest, for six assessment years.
-
Infosys Receives Rs 341 Crore Tax Demand For Assessment Year 2020-21
Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order.
-
Expecting Refund Of Rs 6,329 Crore From Income Tax Department, Says Infosys
Infosys expects a refund of Rs 6,329 crore from the Income Tax Department, the country's second largest IT services company said. It also informed the stock exchanges about tax demand to the tune of Rs 2,763 crore, citing various assessment orders.
-
Tax Assessments Against Congress Based On Incriminating Evidence: Sources
Income tax notices to the Indian National Congress were issued back in March 2023 and the assessment proceedings demanded for those seven years, as per law, were set to get time barred on March 31, 2024, according to sources.
-
High Court Dismisses Congress's Plea Against Tax Re-Assessment By Income Tax Officials
The Delhi High Court today rejected petitions by the Congress challenging the initiation of tax reassessment proceedings against it for a period of four years by tax authorities.
-
Supreme Court Defers Hearing Of Income Tax Assessment Case Of Gandhis Till December 13
The Gandhis had opposed the transfer of their cases to the Central Circle on several grounds including that they have nothing to do with the Sanjay Bhandari group's cases.
-
Bombay High Cout Orders Tax Refund Of ₹1,128 Crore To Vodafone Idea
The Bombay High Court has directed the Income Tax department to refund Rs 1,128 crore to Vodafone Idea Limited paid by the telecom operator in taxes for the assessment year 2016-2017.
-
Last Day To File Income Tax Returns (ITR): What Happens If You Miss Deadline
ITR Filing Last Date Today: The deadline to file the income tax returns (ITR) for the assessment year 2023-24 ends today. As per the latest update, over 6 crore ITRs had been filed till 6:30 PM on July 30.
-
ITR Filing: How to Check IT Return Status Online
The deadline to file ITR (Income Tax Return)Â without any late fee is approaching closer. The last date to file ITR for assessment year 2023-24 is July 31. So far, the Income Tax Department has not announced any extension in the last date for filing ITR. One can easily file ITR online using a few simple steps. Once the ITR is filed, all taxpayers a...
-
ITR Filing Deadline Is Here: How to File Income Tax Return Online in Simple Steps
ITR (Income Tax Return) filing deadline for the assessment year 2023-24 is July 31. With the last date just around the corner, a lot of taxpayers are rushing to file their returns. The Income Tax department has not announced any extension on the last date for filing the ITR, hence leaving taxpayers with less than five days to complete the process.
-
What Happens If You Don't File Your Income Tax Return By July 31
The deadline to file the income tax return (ITR) for the assessment year 2023-24 is set to end on July 31. Taxpayers who fall under the taxable bracket, are advised to file their return at the earliest to avoid any last-minute panic or delay.
