8.80 Million turns out to be ‘stop filers’ in Demonetisation year

Income Tax Returns have seen a upward surge in tax compliance aftermath of demonetisation and GST introduction. However according to a report, around 8.80 million taxpayers turned out to be ‘stop filers’ i.e. those who did not file tax returns ..

Tags: Goods and services tax • Income tax in India • Indian banknote demonetisation • Modi administration • Tax

Aaykar Setu

The Central Board of Direct Taxes has launched an app ‘Aaykar Setu’. The app helps to file income tax return (ITR) online, locate the nearest Tax Return Prepares (TRP), provides calculators and other tools, helps manage your PAN and TDS. ..

Tags: Income tax in India • Income tax return • ITR • Tax forms

Salaried employees to get more tax benefits

Now, salaried employees who are earning up to Rs 5 lakh a year, are not required to file income tax returns for assessment year 2012-13. The immunity from filing I-T returns is valid in those conditions, when total income of ..

Tags: Income tax in India • Income tax return • Income taxes • Indian tax forms • IRS tax forms

Month: Current Affairs - July, 2012

E-file returns compulsory if income exceeds Rs 10 Lakhs

People with income of Rs 10 Lakhs per annum will have to file their tax returns electronically beginning 2011-12 Financial year. The CBDT (Central Board of Direct Taxes) has issued a notification making e-filing compulsory for assessment year 2012-13 onwards ..

Tags: Income Tax Department • Income tax in India • Income tax return • Ministry of Finance • Pay-as-you-earn tax

Month: Current Affairs - July, 2012