Income Tax
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ITR Filing Due Date Extended; Know if Agriculture Income is Taxable?
The Central board of Direct Taxation has extended the Income Tax Return Filing date of FY 2021-22 for Individuals till 31 December, 2021. If you have Agricultural Income, you can still file for ITR, however as per section 10(1), agriculture income earned by the taxpayer…
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ITR Filling 2019-20: Check Important Update regarding Income Tax Returns for FY 2020
The usual date for filing ITR for the financial year of 2019-20 would have been July 31, 2020. However, the government has taken note and given some major concessions when it comes to filing your ITR due to the worldwide pandemic.…
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Good News Taxpayers! Relaxations in Income Tax Returns Filing; Check New Rule for Verification of Old ITRs
The income tax department has given a one-time relaxation to taxpayers who have not yet verified their e-filed tax returns. So, if you have not yet verified your income tax returns (ITR) for assessment years 2015-16 to 2019-20, then you still have time till 30th…
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New Income Tax Regime: These 5 Incomes are Exempted from Paying Income Tax in FY 2020-21
The new tax regime applicable from 1st April 2020 is optional. A person opting for the new tax regime will have to forego many of the deductions available under the income tax law like Section 80C, 80D, 80TTA for deduction on savings account interest earned…
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