With the promulgation of the ordinance, the last date for filing income tax returns for 2018-19 as well as that for linking PAN with biometric ID Aadhaar has been extended by three months to June 30

It also extends date till June 30 for passing of order or issuance of notices by the authorities under various direct taxes and Benami law. Besides, date for 'Vivad Se Viswas' scheme has also been extended by three months till June-end

Colin Shah, Vice Chairman, GJEPC, said the relaxations will give some relief to worried entrepreneurs and they are eagerly awaiting the economic relief financial package to be announced by the government

The FM's latest announcement has come in the backdrop of coronavirus outbreak. The deadly virus has killed 11 people. And 482 have been tested positive, according to ICMR

Sensex, Nifty Live News Today: BSE 30-share index Sensex rose 722 points to trade at 26,767. Similarly, NSE 50-share barometer Nifty climbed 206 points higher to 7,816 mark.

PAN-Aadhaar linking:  If the PAN card becomes inoperative, then the assessing officer shall levy Rs 10,000 under section 272 B of the Income tax Act

A closer look at India's tax data reveals that the direct tax burden is much higher on relatively smaller taxpayers in both individual and corporate categories and that the larger taxpayers benefit more from tax incentives and deductions

While last minute investments may manage to lower total tax outgo, they are unlikely to align well with the financial goals of taxpayers

PAN-Aadhaar linking: Any person with an inoperative PAN card will be liable for all consequences under the I-T Act for not furnishing, intimating or quoting the permanent account number

Rural inflation rose to 7.73% in January, higher than the urban inflation rate - which was 7.39% - for the first time since June 2018

Citizens found owning properties outside the country without explaining the source of funds or income for their purchase could be prosecuted under the Black Money Act

TDS contributes to over 40 per cent of collection under the direct taxes category

Calculator compares taxes in old and new tax regimes for financial year 2020-21 and has been hosted on department's official e-filing website -- incometaxindiaefiling.gov.in

Sensex shut shop at 39,872.31, gaining nearly 137 points or 0.34 per cent, while NIFTY 50 closed flat at 11,724.05 points, inching up 0.53 per cent

Union Budget 2020: Steps have been taken in this regard, with ITR forms released in April 2019 already having some information pre-filled such as bank account number, bank interest and salary details with standard deduction etc

The matter relates to the alleged non-disclosure of Rs 1.35 crore received by Karti, son of former union minister P Chidambaram, and his wife Srinidhi in cash for sale of land at Muttukadu

According to data with Association of Mutual funds in India equity and equity-linked saving schemes attracted an inflow of Rs 74,870 crore in 2019, much lower than Rs 1.2 lakh crore seen in 2018

ULIPs offer a combination of insurance and investment which makes them a goal protection product as it helps you invest for a life goal and at the same time ensures that the goal is achieved in both cases - when you survive the policy period or when you are no longer around

Income Tax Department has also rolled back its decision to bar taxpayers who deposited more than Rs 1 crore, spent Rs 2 lakh on foreign travel, and paid electricity bills over Rs 1 lakh from filing ITR-1 Sahaj

The Lavasa family have denied allegations of stamp duty evasion. Shakuntala Lavasa said that Rs 10,42,220 was paid as stamp duty as per law