The deadline for filing ITRs was initially December 31, 2020, but this was extended for another 10 days till January 10, 2021

If you are a Dream11 team player you must know the money you win is not entirely yours. The prize money is your income from other sources that will attract taxes just like your primary income. Prize money in Kaun Banega Crorepati is also taxed

Picking the right ITR form is critical for filing hassle-free income tax returns

Unlike other schemes, you are not allowed to withdraw the entire amount accumulated in your NPS account on your retirement

It should be noted, first, that a taxpayer needs to mandatorily link Aadhaar with PAN for the AY 2019-20 on or before the filing of income tax returns

The ITR forms 1 and 4 can be filed online either by downloading excel or Java utility whereas, other ITR forms will be available soon

Rs 20 lakh crore package: Nirmala Sitharaman said that every tax-related decision has bearing on the revenue and affects the states through devolution

Nirmala Sitharaman press conference: The minister also announced that the rates of tax deduction at source (TDS) for non-salaried specified payments and tax collection at source (TCS) for specified receipts will be reduced by 25 per cent

In the first tranche of Atma Nirbhar economic stimulus package, Finance Minister Nirmala Sitharaman announced a slew of measures to help the taxpayers

ITR filing deadline extended: Nirmala Sitharaman said during the press conference that the tax audit date has also been extended till October 31 from September 30

Finance Minister Sitharaman Live on Rs 20 lakh crore Economic Package: FM Nirmala Sitharaman announced Atma Nirbhar Abhiyan. Provident Fund contribution of employers and workers is being reduced from 12% to 10% each of wages for the next 3 months, announced FM Nirmala Sitharaman. She added that the EPFO benefit will lead to more take home salary.

Wide gaps in corporate and non-corporate direct tax collections are known for years and a huge number of tax evaders are routinely identified every year by the tax authorities but lack of effective follow-up action ensures that the status quo is maintained

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

Sitharaman's comments assume significance in light of five-fold hike in deposit insurance coverage announced in her Budget speech earlier this month and recent introduction of insolvency solutions for financial institutions

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

The decision to switch to the new income tax rates will depend on the level of deductions that you are able to use in the present regime

A day after she presented her second Budget, Business Today caught up with Finance Minister Nirmala Sitharaman in her North Block office to find out the reasoning behind the key initiatives in Budget 2020

Budget 2020 taxes: The individual taxpayers are free to choose between the old tax regime and the new tax regime. However, not every taxpayer will find it easy to make this switch. Here's for more

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