Tag: Income Tax

Home loan can save your money
How you can harness your home loans to help you save money

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.

  • Friday, 11 November 2022
 CBDT issues revised guidelines for compounding
Guidelines for compounding of offences under the Income-tax Act revised

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.

  • Sunday, 18 September 2022
41% income taxpayers yet to file IT return, 10% facing tech glitches
41% income taxpayers yet to file IT return, 10% facing tech glitches

Of those still striving to file their ITR, 10 per cent of respondents complained of "difficulty in filing" but expressed keenness to do so.

  • Thursday, 28 July 2022
Income Tax Return Filing
Net direct tax collection reaches highest-ever figure in FY 22

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.

  • Tuesday, 26 April 2022
Changes Effective From April 1 On PF, PAN-Aadhaar To Tax Rules And Covid Relaxations
Changes Effective From April 1 On PF, PAN-Aadhaar To Tax Rules And Covid Relaxations

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.

  • Friday, 01 April 2022
Income Tax
I-T Dept Relaxes Time Till Feb'2022 For Taxpayers To Complete Verification Of FY'20 ITRs

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.

  • Wednesday, 29 December 2021
IT Department Rolls Out Annual Information Statement; Tax Payers To Benefit In Numerous Ways
IT Department Rolls Out Annual Information Statement; Tax Payers To Benefit In Numerous Ways

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.

  • Monday, 01 November 2021
Income Tax
Taxpayers To Now Get Details On Remittances, MF Dividend In IT Return Form

This information would be auto populated in the Form 26AS when the taxpayer is filing income tax return.

  • Wednesday, 27 October 2021
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Mudslinging between BJD, BJP continues over Bargarh cash seizure

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 […]

  • Saturday, 24 July 2021
Deadline for Aadhaar-PAN linking may not be extended

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 […]

  • Friday, 23 July 2021
BJP team meets IT commissioner seeking probe into BJD's poll funds 

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 […]

  • Thursday, 22 July 2021
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Probe on into ‘black money’ of mafia, godmen in Odisha: Pasayat

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 […]

  • Wednesday, 21 July 2021
Sarat Chandra Panda DFO
Khariar DFO Sarat Chandra arrested in DA case

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 […]

  • Wednesday, 21 July 2021
Sarat Chandra Panda DFO
I-T raid on DFO's house, office continues on second day

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 […]

  • Wednesday, 21 July 2021
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IT dept raids Yazdani International, Sirajuddin

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 […]

  • Tuesday, 20 July 2021
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