Tag: itr

Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official
Posted in Economy

Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official

As many as two lakh Income Tax Returns (ITRs) containing details of foreign assets and income have been filed during the current assessment year till…

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CBDT launches compliance-cum-awareness campaign for AY 2024-25 to assist taxpayers in reporting foreign assets and income
Posted in Economy

CBDT launches compliance-cum-awareness campaign for AY 2024-25 to assist taxpayers in reporting foreign assets and income

New Delhi: The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for Assessment Year (AY) 2024-25 to assist taxpayers in accurately completing…

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Modi regime sees five-fold jump in ITR filers with income above Rs 50 lakh; middle class tax burden falls
Posted in Economy

Modi regime sees five-fold jump in ITR filers with income above Rs 50 lakh; middle class tax burden falls

New Delhi: Tax burden on individuals earning less than Rs 20 lakh a year, broadly described as middle class, has come down during the 10…

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This ITR submission is closely related to also submitting the tax audit report, with details in the report to be referenced in the ITR. Thus, the tax audit report must also be submitted before filing the ITR.
Posted in Business

ITR deadline is November 15, 2024 for these taxpayers: Check details

The deadline for filing income tax returns (ITR) for the financial year 2023-24 is November 15, 2024, specifically for taxpayers subject to an income tax…

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About 40,000 TCS employees received income tax notices, with tax demands ranging from <span class=
Posted in Business

Income tax notices sent to TCS employees are a ‘discrepancy,’ ITRs will be reprocessed: Report

Sep 14, 2024 12:59 PM IST TCS said that the employees who received the income tax notices will get a intimation of rectification soon and…

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If the ITR is not successfully processed, the income tax refund if applicable, will not be credited to your bank account. (Representational Image/Unsplash/Scott Graham)
Posted in Business

How long does it take for income tax department to process ITRs?

It usually takes an average of 15-45 days from the e-verification date of income tax returns (ITRs) for the income tax department to start processing…

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The Income Tax Department processed 73.71% of all verified income tax returns (ITRs) as of August 22, 2024 (Pexels)
Posted in Business

26% of income tax returns are yet to be processed, is your ITR among them? Find out why

Aug 23, 2024 02:39 PM IST The 20 days it took for the IT department to process more than 70% of ITRs is however, much…

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The number of defective income tax return (ITR) notices has been increasing lately (Scott Graham/Representational Image/Unsplash)
Posted in Business

Got a defective ITR notice from income tax department? Why and how to rectify the defect

Aug 22, 2024 08:59 PM IST Its important to rectify a defective ITR as not doing is treated as not filing at all, necessitating a…

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Over 7.28 crore income tax returns filed for the financial year 2023-24. (Pexels)
Posted in Business

ITR 2024: Waiting for income tax refund? Tax refund rules to know about

July 31 was the final deadline for filing income tax returns (ITR), with over 7.28 crore income tax returns filed for the financial year 2023-24….

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Last-minute ITR filers face glitches galore on income tax portal: ‘Infosys got ₹4,200 crore for this?’ | Trending
Posted in Business

Last-minute ITR filers face glitches galore on income tax portal: ‘Infosys got ₹4,200 crore for this?’ | Trending

Jul 31, 2024 02:53 PM IST ITR filing last date: The income tax return filing season for 2024-25 ends on July 31 for all categories…

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