The last date for filing declaration under VsV scheme was February 28, while for paying the disputed tax the date is March 31

Stock Market Updates Today: Sectorally, except for IT and pharma index, all the other indices ended with decent gains. Private, PSU Bank and financial indices closed 3% higher today.

FDI surge from Cayman Islands makes it the new Mauritius; chorus grows China might be routing investments into India through it

If you have no plans to make tax-saving investments, you may opt for the new tax regime. From FY21 onwards, taxpayers have two options

Stock Market Updates Today: Sun Pharma, ITC, HDFC were trading among the top losers today while RIL, L&T, Maruti were among the top gainers

The government had raised the threshold income for paying tax to Rs 5 lakh in the interim budget of 2019. According to data from the income tax department, there were 8.04 crore individual taxpayers in assessment year 2018-19 of which 5.95 crore filed returns

The focus on self-reliance, innovation, research and development, infra capex and digital payments in Union Budget 2021 would definitely help in lifting the Indian economy from under $3 trillion to $5 trillion in the near term

Income-tax slabs unchanged, but small taxpayers will enjoy procedural relief in filing ITR and resolution of disputes; High-income earners may feel the pinch though

Economists, CEOs, consultants, sector specialists interpret Nirmala Sitharaman's 'Never-before' Budget

The Economic Survey 2020/21 suggests that big spends in infrastructure and healthcare should be the government's priority to speed up post-pandemic recovery. Debt, according to the Survey, is not necessarily bad if borrowing more means faster growth

On the direct tax collection targets for 2021-22, CBDT Chairman PC Mody said that the projections are \"realistic and not ambitious\"; we are confident about achieving the target, he added

Due to certain exceptional items, the company reported a marginal decline of 2 per cent in its net profit at Rs 83 crore for the December quarter

While the expectations of the common man of tax relief are not met, the budget outlines measures to rationalise the tax structure and bring out changes in the tax processes

With a fiscal deficit of 9.5% of GDP, there was limited scope for any significant tax concessions in Budget 2021

While the Budget has revealed a plethora of proposals targeted at supporting the nascent economic rebound, timely implementation of these proposals will be key to sustaining higher growth of the Indian economy in FY2022 and beyond

Substantial changes have been introduced in relation to Tax Dispute Resolution mechanism to impart greater efficiency, transparency and accountability by eliminating interface to the extent technologically feasible by optimising utilisation of resources and introducing dynamic jurisdiction

The time-limit for re-opening of assessment is being reduced to 3 years. Originally this was six years. Re-opening of assessment up to ten years will be allowed only if there is evidence of undisclosed income of  Rs 50 lakh (or more) for a year

The Budget ticked all the right boxes which would strengthen the path of recovery of the economy. This is a budget catering to all aspects of lives, livelihoods and growth, said Kotak

Budget 2021: Finance Minister says to further ease filing of returns, details of \"capital gains from listed securities, dividend income, and interest from banks, post office, etc, will also be pre-filled\"

The government has proposed to reduce deadline for filing belated, revised ITR by three months from March 31 of the relevant assessment year to December 31 of the assessment year