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AY22
ET Prime Special Series: Multibagger or IBC - Part 62: This quiet auto ancillary now earns in 3 months what it once earned in a yearThe stock has multiplied many times over in just a few years, the order book has never been bigger, and the value packed into every vehicle...- New income tax regime: Don’t miss out on these 3 key deductions that will reduce your taxable income & help save more taxMany taxpayers mistakenly believe the New Tax Regime offers no deductions. However, salaried employees and pensioners can claim a Rs 75,000...
- Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
- Old vs new tax regime: Key differences that you must know before ITR filing for tax year 2026-27The new tax regime offers lower rates but removes many deductions, making a thorough comparison with the old regime crucial. While both reg...
- Rs 13 lakh cash payment for credit card bill triggers tax notice; man wins case after ITAT accepts ‘family gift’ explanationA Mumbai man faced a tax notice for using Rs 13 lakh cash to pay his credit card bill. He explained the cash as gifts from his wife, father...
- Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled itAn Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal,...
- March 31 is deadline for updated ITR: Have unreported income, applied wrong rate of tax? File ITR-U with payment of additional tax, else be ready to pay higher penaltiesIndividuals can now file an updated Income Tax Return (ITR-U) to correct past errors, including unreported income or incorrect tax rates. T...
- ITR filing deadline: What is the last date for filing returns for taxpayers not requiring an audit?ITR deadline for non-audit taxpayers: The process of filing ITR for FY 2024-2025 has become more complex due to changes in the capital gain...
- Over 90 lakh updated tax returns filed, Rs 9,118 crore additional taxes mobilisedOver 90 lakh updated Income Tax Returns (ITR-Us) have been filed in the past four years, resulting in Rs 9,118 crore in additional taxes fo...
- I-T’s About Her: Women taxpayers on the riseThe number of women taxpayers has been steadily increasing, with 22.9 million women filing income tax returns in the assessment year (AY) 2...
- Crorepati taxpayers club gets bigger, rises 5X to 2.2 lakh in AY24This growth is part of a broader trend, which showed a 74.2% decline in income disparity for earners up to Rs 5 lakh between FY14 and FY23....
- Income disparity in India has declined 74.2% since FY14, reveals SBI studyThe SBI report has shown a 74.2% decline in income disparity for individuals earning up to Rs 5 lakh annually between FY14 and FY23, attrib...
- Pending income tax refunds relating to AY 2021-22 would be processed by this date; check email for confirmationIncome tax refund: The Central Board of Direct Taxes (CBDT) has said that individuals who are still waiting to get their tax refund for FY ...
- Average gross income for individual taxpayers rises 56% in 8 yearsThe Central Board of Direct Taxes (CBDT) disclosed that in the assessment year 2021-22, the average gross total income of individual taxpay...
- ITR filings climb up by 90% in nine years to 6.37 cr in AY 2021-22: GovtThe income tax department reported that individual taxpayer I-T returns increased by 90% in 9 years to 6.37 crore in the 2021–2022 fiscal y...
- What is the last date to file ITR-U?An updated income tax return (ITR-U) can be filed within 24 months from the end of the relevant assessment year, provided the deadline for ...
- Indians are becoming more disciplined in filing income tax returnsDelayed tax return filings have fallen sharply in India, dropping from 60% for assessment year 2020 down to 25% for 2023, according to rese...
- CBDT notifies ITR-U for AY21 & AY22The Central Board of Direct Taxes (CBDT) notified forms for updated returns for those taxpayers who missed to report correct particulars of...
- I-T dept enables tax audit utility form for FY'20, FY'21The last date for filing the tax audit report for the 2020-21 fiscal is January 15, 2022. For fiscal 2019-20 i.e. AY 2020-21, limit was Rs ...
- CBDT extends safe harbour rules for AY22 at same rates“In the Income-tax Rules, 1962, in rule 10TD, in sub-rule (3B), for the words and figures “assessment year 2020-21”, the words and figures ...
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