
Last date for filing income tax returns for the financial year 2020-21 has been extended till September 30, 2021, which was earlier July 31

On the 161st anniversary of Income Tax day she complimented the department for simplifying the procedures, processes and making things simpler

On the 161st anniversary of Income Tax Day, she complimented the I-T dept for continuing to work towards simplifying its procedures and processes

Filing income tax returns is mandatory by law, and if it isn't done correctly or on time, it can attract a penalty

This was done in view of the difficulties faced by tax payers in filing of the forms online on the official website

Even if your income is below the exemption limit, filing of return is mandatory if you have overseas assets or deposits worth more than Rs 1 crore

For taxpayers' benefit, the Union government recently extended deadlines for several tax-related tasks

Even after two weeks of the meeting and over a month of the portal launch, users still continue to encounter multiple problems
Gifts received from your family aren't considered part of the extended income or 'income from other sources'. Hence, it's tax-free

Of this, personal income tax refund stood at Rs 10,408 crore, while that of corporates was Rs 26,642 crore