If it's been a considerable amount of time since you filed your ITR, you can check the status on the Income Tax Department's e-filing portal or contact their support for more information.
In a positive economic development, the government announced that July's Gross Goods and Services Tax (GST) collections have surged by 10.3%, reaching over Rs 1.82 lakh crore. This marks a significant improvement from the same period last year.
The I-T department's helpdesk has been operational 24x7, offering support through calls, live chats, WebEx sessions, and social media to assist taxpayers with ITR filing and related services.
Sitharaman unveiled new income tax slabs under the revised tax regime, which provided relief to salaried taxpayers and pensioners. The Standard Deduction limit has been increased from Rs 50,000 to Rs 75,000 for salaried taxpayers.
Business news: The RBI has said that all branches of the banks dealing with Government receipts and payments will remain open for transactions on March 30 and March 31 to account for all the Government transactions relating to receipts and payments in the FY 2023-24 itself.
The Prime Minister inaugurated the new campus of National Academy of Customs, Indirect Taxes & Narcotics (NACIN) at Palasamudram in Andhra Pradesh. He also visited historic Veerabhadra Temple at Lepakshi in Sri Sathya Sai district.
Old Pension Scheme: NITI Aayog Vice Chairman Suman Bery also underlined the need for enhancing capital expenditure and creating a space for the private sector through fiscal consolidation.
Transaction details of individual tax filers with respect of capital gains, dividend income, and interest income will soon become a standard of the pre-filled Income Tax return (ITR) form as the government looks to make tax compliance convenient for taxpayers.
Come January 1 and GST taxpayers would be able to pay their tax dues on a self assessment basis without having to go through the cumbersome process of filing tax returns on a monthly basis.
Tax officials have been directed to follow up personally with these defaulting taxpayers so that their GSTR-3B returns due for October get filed by Nov 30.
PM Modi on Wednesday inaugurated the state-of-the-art-office cum residential complex of Income Tax appellate Tribunal-ITAT in Cuttack, Odisha. Addressing the event via video conferencing, PM Modi said, "India among select nations which recognise taxpayers' rights and responsibilities; step towards creating trust in tax system."
Only third parties would report high-value transactions to the I-T department as per the Income Tax Act. Such information would be used to identify people who are not paying up due taxes, and not for examining affairs of honest taxpayers.
Prime Minister Narendra Modi has launched the 'transparent taxation' platform having components — faceless appeals by taxpayers, faceless assessment of taxpayers and the Rights' Charter for the taxpayers. An in-depth look into what these tax reforms mean.
Prime Minister Narendra Modi launched a platform to honour honest taxpayers via video conferencing at 11 AM on Thursday (today). The launch of the platform for 'Transparent Taxation - Honoring the Honest' will further carry forward the journey of direct tax reforms.
Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman and Minister of State for Finance and Corporate Affairs, Anurag Singh Thakur will also present at the launch which will be done through a video conference.
Delhi's unauthorised colonies that were regularised last year, the government has exempted owners from income tax even if they had purchased land or house at rates below the prevailing market price.
The Central Board of Direct Taxes (CBDT) has extended the validity of forms 15G and 15H by three months to June 30, 2020 and prevent banks from deducting TDS on interest income of individuals.
The GST Network on Sunday said around 92 per cent of large taxpayers with turnover of over Rs 2 crore have filed annual returns for 2017-18 fiscal.
The number of crorepati taxpayers shot up 20 per cent to 97,689 during assessment year (AY) 2018-19, as per tax returns data released by the revenue department.
To encourage tax payers, the Economic Survey 2018-19 proposes great rewards for people paying their due tax. The Economic Survey suggests 'diplomatic'-type privileges for top-10 taxpayers in each district.
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