Tax return Current Affairs, GK & News

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 in a given year despite doing so in the financial year 2016-17, the year when ..

Topics: Goods and services tax • Income tax in India • Indian banknote demonetisation • Modi administration • Tax • Tax forms • Tax return

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 for an individual or a Hindu undivided family if his or its total income exceeds ..

Month: Current Affairs - July, 2012

Topics: Income Tax Department • Income tax in India • Income tax return • Ministry of Finance • Pay-as-you-earn tax • Tax • Tax forms • Tax return • Union budget of India