During the corresponding period of FY 2019-22, the pre-Covid year, the direct tax collection was Rs 4.4 trillion
The new ITR forms need a taxpayer's break-up of interest income received from sources like savings account, fixed deposits, etc.
There is a wide difference between the number of start-ups recognised by the DPIIT and the start-ups granted deduction under section 80-IAC of I-T Act
Infosys was tasked with ironing out all issues by September 15. Individual taxpayers continue to find it difficult to file their IT returns.
CBDT issues refunds of over Rs. 70,120 crore to more than 26.09 lakh taxpayers between April 1, 2021, to September 6, 2021.
The CBDT has said 76.2 lakh taxpayers used the new portal to file returns; the ITR filing deadline is September 30
The central government had constituted the ITSC to dispose off the pending settlement applications as on January 31
The AI-enabled system will check for discrepancies between the data disclosed by an assessee and match it against the data fetched from stock exchange
So far certain faceless assessees were required to authenticate records separately through digital signature
It is better to file your tax early as it will help to have peace of mind by avoiding penalties. It will also help in getting your refund if any.