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Income Tax Department It Department

Mankind Pharma operates in 34 overseas destinations leveraging 16,000 employees.

I-T Dept Raids Mankind Pharma Premises In Delhi Over Tax Evasion Allegation

The company made its debut on the stock exchanges on Tuesday. It also launched its IPO this year.

11 May 2023

Should You Pay Income Tax If You Work From Home For A Foreign Company?

Should You Pay Income Tax If You Work From Home For A Foreign Company?

You need to check your Indian residency status, tax deducted at source (TDS), if any, and Double Taxation Avoidance Agreement (DTAA) to determine the applicable dues.

06 January 2023

Here Are 5 Investor-Friendly Taxation Actions Undertaken In 2022

As 2022 draws to a close, we take a look at the investor-friendly taxation actions undertaken in the year

20 December 2022

Should You Choose Your Income Tax Regime Now? 

Companies have set deadlines for their employees to register their choice of the tax regime. Read on to learn about the options and the benefits. 

10 April 2023

PAN Will Be Inoperative If Not Linked With Aadhaar By March 31

Your PAN Will Be Inoperative If Not Linked With Aadhaar By March 31. Here Is How To Link Your Aadhaar With PAN

Aadhaar card is issued to every Indian citizen, which has a unique 12-digit number assigned by Unique Identification Authority (UIDAI)

25 December 2022

Profit From Sale Of Assets Become Taxable In Year Of Transfer

Receipt of portion of sale consideration is not treated as transfer of asset. Both husband and wife can get tax benefits on joint home loan. Legal heir has to file tax return of deceased till date of death

17 December 2022

Jharkhand Chief Minister Hemant Soren

Jharkhand's Commercial Tax Dept Posts 114% Collection In 2022-23

Jharkhand Chief Minister Hemant Soren said that it has been a year of better fiscal performance

01 April 2023

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Liability To Pay Tax On Shares Only Arises At Time Of Sale

Liability To Pay Tax On Shares Only Arises At Time Of Sale

Investments in shares are treated as capital assets and taxed as capital gains. In case of self-occupied property, there is a limit of Rs. 2 lakh for claiming interest under Section 24(b). Full amount received on recurring...

10 December 2022

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06 December 2022
File Belated Income Tax Return By December 31, 2022 To Save Yourself From Scrutiny, Notice

File Belated Income Tax Return By December 31, 2022 To Save Yourself From Scrutiny, Notice

If you have missed the July 31 deadline to file your income tax return, then make sure you file it by December 31, unless you want to get served with a notice...


03 December 2022
International Disability Day: Two Tax Deduction Benefits For The Differently Abled

International Disability Day: Two Tax Deduction Benefits For The Differently Abled

The tax provisions considering challenges faced by persons with a disability provide a few deductions from income, for the differently abled as well as the...


14 November 2022
Children’s Day: Do Minors Require To File Separate Income Tax Returns? Find Out Here

Children’s Day: Do Minors Require To File Separate Income Tax Returns? Find Out Here

A minor or major is required to file separate income tax returns (ITR) if they have an income or do specific transactions, regardless of their dependence on...


01 November 2022
Common ITR Form For All Taxpayers On Anvil, IT Dept Invites Stakeholder Comments

Common ITR Form For All Taxpayers On Anvil, IT Dept Invites Stakeholder Comments

All taxpayers, except trusts and non-profit organisations, can file returns with the proposed new common ITR form, on which the Central Board of Direct Taxes...


01 November 2022
I-T Dept Raids Two Luxury Watch Sellers In Delhi

I-T Dept Raids Two Luxury Watch Sellers In Delhi

Tax evasion investigations have been conducted by the Income Tax Department against two major luxury watch retailers in Delhi.


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19 October 2022
More Than A Third Of Young Women Have Filed ITR, Reveals Clear Report

More Than A Third Of Young Women Have Filed ITR, Reveals Clear Report

About 34 per cent of women below the age of 26 years have filed their income tax returns, and about 46 per cent of them fully exhausted their Section 80C tax...


10 August 2022
Not Filed your Income Tax Return On Time? Late Fee Is Just One Penalty For Late Filing

Not Filed your Income Tax Return On Time? Late Fee Is Just One Penalty For Late Filing

You can still file your income tax return if you have missed the due date of July 31, 2022 for financial year 2021-22. But besides the monetary fine, there are...


10 August 2022
Still Not Received Your Income Tax Refund? Here’s How To Check Status, Request For Refund

Still Not Received Your Income Tax Refund? Here’s How To Check Status, Request For Refund

There is no need to worry if you haven’t received your income tax refund yet. You will get it soon enough. But in the meanwhile, you can follow these steps...


28 July 2022
How Do Legal Heirs File Income Tax Return For A Deceased Person?

How Do Legal Heirs File Income Tax Return For A Deceased Person?

Death doesn’t spare a person from tax. The taxation process continues through the deceased person’s legal heir.


25 July 2022
National Income Tax Day: 5 Lesser-Known Deductions You May Not Be Aware Of

National Income Tax Day: 5 Lesser-Known Deductions You May Not Be Aware Of

A lot many taxpayers are still not aware of the many tax deductions options available to them under various sections of the Income Tax Act 1961. Here’s a...


23 July 2022
Here’s Why You Should Not Wait Till The Last Day To File Your Income Tax Return

Here’s Why You Should Not Wait Till The Last Day To File Your Income Tax Return

There are implications of late filing of income tax return, including penalty. But that’s not all. The government is unlikely to extend the last date of...


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20 July 2022
Filing Your Income Tax Return? Know The Difference Between AIS And Form 26AS

Filing Your Income Tax Return? Know The Difference Between AIS And Form 26AS

The AIS is essentially a comprehensive statement containing details of financial transactions, including income, investment, and expenditure, whereas Form 26AS...


15 July 2022
Kotak Mahindra Bank Completes Integration With New Income Tax Dept. Portal

Kotak Mahindra Bank Completes Integration With New Income Tax Dept. Portal

In October 2021, Kotak Mahindra became the first in-line of scheduled private sector banks to get approved as a collection partner for taxes


14 June 2022
I-T Dept. Charms Kids With ‘Snakes And Ladders’; Hopes For Next Gen. Of Honest Taxpayers

I-T Dept. Charms Kids With ‘Snakes And Ladders’; Hopes For Next Gen. Of Honest Taxpayers

The Income Tax Department has come out with popular snakes and ladders board games and Motu-Patlu comic strip to spread tax literacy among children and young...


09 June 2022
Highly Anticipated Crypto Tax FAQs To Be Out By July 1; CoinDCX Starts Crypto Earning Program

Highly Anticipated Crypto Tax FAQs To Be Out By July 1; CoinDCX Starts Crypto Earning Program

CoinDCX has started letting users in for the crypto passive earning program by intimating them over email. Meanwhile the entire crypto market was down in...


04 June 2022
Gifts Received From Spouse Is Not Treated As Income Under Income Tax Laws

Gifts Received From Spouse Is Not Treated As Income Under Income Tax Laws

Under Income Tax laws, income earned on the gifts made by a spouse is required to be clubbed with the income of the spouse giving the gift


02 June 2022
Centre Plans To Rake Up 3-Year-Old Case To Implicate Manish Sisodia, Claims AAP

Centre Plans To Rake Up 3-Year-Old Case To Implicate Manish Sisodia, Claims AAP

After Satyander Jain's arrest by the Enforcement Directorate, the Aam Aadmi Party claims that the Center is bent on promulgating fake or old cases against the...


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