No matter how much your income is, if you want to save your money, then a proper financial planning is a must. If you are a salaried person, you must have some plans to save your income tax every year.
A lot of major changes have been made for the benefit of taxpayers including making offence punishable under Section 276 of the Act as compoundable.
Of those still striving to file their ITR, 10 per cent of respondents complained of "difficulty in filing" but expressed keenness to do so.
The net direct tax collections (income tax and corporate tax) reached an all time high of Rs 14.09 lakh crore in financial year 2021-22 against Rs 9.45 lakh crore collections in FY 2020-21, CBDT Chairman J.B. Mohapatra said on Tuesday.
April 1 marks the commencement of a new financial year and it brings several new regulations into effect in the country every year. This year too the government has also rolled out changes from tax rules, EPF to KYC norms, and Covid relaxations.
If the verification process, which is done through ITR-V form, is not complete, then it is considered that the return has not been filed.
The new AIS includes additional information relating to interest, dividend, securities transactions, mutual fund transactions and foreign remittance information. The reported information has been processed to remove duplicate information. Taxpayer will be able to download AIS information in PDF, JSON, CSV formats.
This information would be auto populated in the Form 26AS when the taxpayer is filing income tax return.
Bhubaneswar: War of words between BJP and BJD is continuing unabated over the seizure of Rs 40.50 lakh in Bargarh with senior leaders of both the parties accusing each other of trying to lure voters with money power ahead of the bypoll to Bijepur Assembly constituency. “I dare Bargarh SP to hand over the case […]
New Delhi: The Income Tax department is unlikely to extend the August 31 deadline for linking Permanent Account Number (PAN) and Aadhaar. Earlier this month, the IT department had extended the deadline till August 31, but cautioned that returns would not be processed until the ‘linkage of Aadhaar with PAN is done’. The deadline was […]
Bhubaneswar: A five-member team of Odisha BJP today moved the Income Tax Commissioner seeking a thorough inquiry into the alleged discrepancies in the data of ruling BJD’s election expenditure. “Crores of rupees from in and outside the State have come to BJD account from unknown sources. The money mostly came from chit fund companies. We […]
Bhubaneswar: The vice-chairman of Special Investigation Team (SIT) on black money justice Arijit Pasayat on Thursday said that investigations into the alleged black money and benami properties of self-styled godmen in Odisha have been effective so far and it will be continued in the days to come. “We have reports that the probe by police […]
Khariar/Bhubaneswar: Khariar DFO Sarat Chandra Panda was arrested by the State Vigilance on Sunday evening on charges of amassing disproportionate asset. Properties worth Rs 5 crore have been traced in the name of Sarat and family members. Besides, from Sarat’s Khariar office, new currency notes worth Rs 6 lakh were seized by the Income tax […]
Bhubaneswar: Income Tax (IT) officials continued their raid at the house and office of Khariar Divisional Forest Officer (DFO) Sarat Chandra Panda on the second day today. Panda is booked under charges of tax evasion. The house of Panda at Gouri Nagar in Bhubaneswar and another house at Anantapur under Soro block in Balasore district […]
Bhubaneswar: Income Tax department officials on Wednesday conducted raids on Yazdani International. According to reports, the IT department also raided Sirajuddin company as well in connection with the same. The IT officials raided the Sirajuddin company’s Joda office, mines area in Balada, Bhubaneswar office, residence of company owner, Kolkata office and office of Tribeni Earth […]
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