Income Tax: Latest News and Updates, Top Stories, Videos, Photos About Income Tax

CBDT Clarifies No Mass Scrutiny Of HRA Claims, Targets High-Value Mismatches; Details Inside

The Central Board of Direct Taxes (CBDT) has moved to ease concerns among taxpayers by stating that there is no ongoing special drive to scrutinize all house rent allowance (HRA) claims. Amidst recent reports hinting at widespread case reopenings, the CBDT ...

Income Tax Return FY23-24: Form 16 Issuance Deadline Pushed; Don't Miss Out On Dates, Other Details

As the financial year 2023-24 ends, salaried individuals across the country are gearing up for the annual ritual of filing their income tax returns. However, a delay in the issuance of Form 16 by employers has pushed the deadline for tax ...

Income Tax Department Identifies Rent Mismatch in Employee Declarations

Income Tax Department finds mismatches in rent transactions for FY 2020-21, clarifies no special drive on HRA cases....

Banks, LIC, Tax Dept, Post Offices, PSU Open On Saturday, Sunday; Why Is There No Bank Holiday On March 31?

Public sector banks, insurers like LIC India, and other government offices including those of PSU and CPSE companies are open on Saturday and Sunday. The reason why government employees are working extra this week is due to the close of financial ...

Deadline Alert: Today Is Last Day To Invest In ELSS Before Income Tax Saving Deadline; All You Need To Know

As the clock ticks down to the March 31 deadline for tax-saving investments, investors have been reminded that today, March 28, marks the final opportunity to invest in Equity Linked Savings Instruments (ELSS) before the financial markets close ahead of the ...

Navigating India's New Tax Regime: Maximizing Savings As Fiscal Year Ends; Deductions To Consider?

As the financial year 2023-24 draws to a close, investors across India are embarking on a quest to minimize their tax liabilities while optimizing their savings. With the availability of two distinct income tax regimes, individuals are presented with choices that ...

Missed PAN-Aadhaar Linking Deadline? Here's How You Can Still File Your Income Tax Return!

As the deadline for filing income tax returns approaches, taxpayers who missed linking their PAN (Permanent Account Number) with Aadhaar by the June 2023 deadline are inquiring about the implications of an inactive PAN. However, fret not, as the income tax ...

4 Crucial Mistakes To Avoid During Tax-Planning Season

As the clock ticks down towards the March 31st deadline for tax-saving investments in India for the financial year 2023-24, it's crucial to plan strategically and avoid common mistakes that could cost you money. While it's always good practice to consult ...

Taxpayers Alert: How Much Taxes You Can Save Ahead Of Financial Year End On March 31?

As Jan-Feb-March (JFM) rolls in, it's that time of the year again when many of us are frantically seeking ways to optimize our tax savings for the financial year 2023-24. To alleviate the stress of navigating through tax complexities, we've curated ...

What Are Post Office Savings Schemes? Some Schemes That Do Not Have Tax Benefits Under Section 80C!

When it comes to saving taxes and securing financial futures, post office savings schemes stand out as a reliable option for many. However, understanding the intricacies of these schemes is crucial to maximizing benefits and avoiding unexpected tax burdens. Recent reports ...

Last Date For Tax-Saving Investments Round The Corner; Here Are Some Tips to Avoid Common Pitfalls

As the deadline for tax-saver investments looms closer, investors need to act fast to maximize their savings for the financial year 2023-24. However, rushing into decisions without careful consideration can lead to costly mistakes. Here's a guide to help you navigate ...

Strategic Tax Planning For FY24: What Investment Instruments Can Help You Save Taxes?

In financial planning, tax saving is a crucial aspect that can significantly impact your wealth accumulation and fiscal health. India's diverse financial landscape offers various instruments designed to save taxes and bolster your financial security. Understanding and leveraging these can be ...

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