Penalty for late filing ITR: Under the Income-tax Act, 1961, a penalty or a late filing fee is levied when a taxpayer misses the last date ...

Who has to file ITR: The decision was made following a complaint from the Income Tax Office (ITO), alleging that Rs. 2 lakh was deducted as...

Many people are inquiring from jewellers about buying gold from the withdrawn Rs 2000 banknote. However, not many people are aware of how m...

The last date to file income tax return for AY 2023-24 (FY 2022-23) was July 31, 2023. Despite asking for extension, the government has not...

The last date to link PAN with Aadhaar expired on June 30, 2023. Any individual who has not linked the both by this date, will have their P...

If an individual missed the deadline to file an income tax return (ITR), then a late filing fee of up to Rs 5,000 is levied. However, there...

Are you paying housing rent to a Non-resident Indian? If yes, then ensure that you are deducting tax before making a rent payment to the NR...

If you file your income tax return after the expiry of the deadline, then a penalty will be levied of up to Rs 10,000. However, there are e...

The government via Finance Act 2019 has amended the Income-tax Act whereby it has made it mandatory for certain categories of individuals t...

The general thinking among people is that this process would just add to the overall complexity in the existing tax structure.

Under the Pradhan Mantri Garib Kalyan Yojana, 2016, black money declarants have to mandatorily park 25 per cent of that wealth in zero-inte...

India this year passed a tough rule against so-called "black money"providing a grace period with conditions for those willing to declare th...

The new Act provides for tax and penalty of 120 per cent and jail term of up to 10 years for holding undisclosed foreign assets.

It provides for a maximum of ten years rigorous imprisonment for offenders, who conceal income and assets and indulge in evasion of foreign...

Das was elaborating upon FM Arun Jaitley's budget proposal to come out with a stringent law to deal with the black money stashed abroad.

In an effort to curb unfair practices in the higher education segment, the government has doubled the penalty that institutions will have t...

West Bengal power department plans to introduce a penalty clause on power distribution companies failing to source and wheel out at least 1...