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Don’t click ‘here’ for refunds!
Many people get conned in the name of income tax refund. How is this fraud happening? How can you save yourself from this fraud? Also how can you get
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Filing not enough, need to verify ITR too
You have 30 days from the date of filing the return to verify the return or file ITR-V. In these 30 days, the return has to be verified.
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Chance to file ITR even after July 31, but with fine
If a person is not able to file income tax return by the prescribed deadline, then he can file belated return under section 139(4) up to three months
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Covid, job loss reflects in IT payers nos
There has been a sharp decline in the number of taxpayers in the country from FY 2020
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I-T notices sent to 1 lakh for income mismatch
Notices have been sent to over 1 lakh tax assessees for income mismatch and with income over Rs 50 lakh
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ITR filers rising, but 37% drop in taxpayers
For the financial year 2019-20, a total of 6.47 crore income tax returns were filed out of which 2.90 crore had zero tax liability
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How to check your refund status?
You can check this (ITR Refund Status 2023) by visiting the website of NSDL or on the e-filing portal of the Income Tax Department
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Foreign assets in ITR: Declare when in doubt
Some of the assets that are causing confusion are stock options overseas that are yet to be exercised, retirement schemes in the US and other countrie
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Face Rs 10 lakh fine for hiding this!
The department says that hiding some information while filing income tax return may result in a fine of up to Rs 10 lakh
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NPIs must update residential status to operationalise PAN
The department has issued a clarification regarding PAN of NRIs getting inoperational and the steps to make it operational again
