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  ITR filing under new income tax regime: These 3 deductions may help you save money, maximise savings

  February 26, 2025 17:47 IST

  Standard Deduction is a fixed amount that can be subtracted from the taxpayers' total income to bring down the amount of income subject to taxation.

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  New Income Tax Bill gets Cabinet approval, likely to be introduced in Parliament next week: Sources

  February 08, 2025 0:01 IST

  In her Budget speech on July 23, 2024, Union Finance Minister Nirmala Sitharaman had announced a comprehensive review of the Income Tax Act, 1961, within six months. The income tax department has received 6,500 suggestions from stakeholders on review of the Income Tax Act.

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  Budget 2025: Taxpayers anticipate income tax relief, know current slabs under new and old tax regime

  January 17, 2025 11:55 IST

  Budget 2025: As Budget approaches, taxpayers are eagerly awaiting Finance Minister Nirmala Sitharaman’s announcement on February 1, 2025, with hopes for significant income tax relief. Here's a detailed comparison of the current slabs under the new and old tax regimes.

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  ITR Advance Tax Deadline Today: Know how to pay tax before due date to avoid penalty

  December 15, 2024 14:23 IST

  Advance tax is also called as "pay as you earn" tax which provisions to deposit advance tax in installments rather than at the end of financial year. The delay in advance tax payment can lead to penal interest.

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  Rs 5,000 late fee: Your last chance to file belated ITR before December 31, check steps here

  December 10, 2024 12:10 IST

  Taxpayers who missed the July 31 deadline for Income Tax Return (ITR) filing for FY 2023-24 (Assessment Year 2024-25) must file by December 31 to avoid increased penalties. Know the late fees, steps to file, and what happens if you miss the deadline.

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  Ganesh Chaturthi 2024: Is Indian stock market closed today? Know here

  September 06, 2024 8:34 IST

  The stock market will be closed for a total of nine days in September, but these closures are limited to regular weekends -- comprising four Saturdays and five Sundays. According to the NSE website, there are no additional weekday holidays scheduled for the month.

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  ITR refunds: Understanding refund timelines for ITR-1, ITR-2, ITR-3 filers

  August 15, 2024 12:53 IST

  Taxpayers awaiting Income Tax Return (ITR) refunds should note that processing times vary by the type of ITR form filed. ITR-1, being the simplest, is processed the fastest, with refunds typically issued within 15 days.

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  Record 7.28 crore Income Tax Returns filed by July 31, marking 7.5 per cent increase: Tax Department

  August 02, 2024 18:03 IST

  The Income Tax Department set a new record with 7.28 crore ITR filings for the fiscal year 2024-25, marking a 7.5% increase from last year. A notable 72% of taxpayers opted for the new tax regime.

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  ITR filing 2024: Over 7 crore income tax returns filed till 7 PM on deadline day, says IT department

  July 31, 2024 21:56 IST

  The I-T department's helpdesk has been operational 24x7, offering support through calls, live chats, WebEx sessions, and social media to assist taxpayers with ITR filing and related services.

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  ITR Filing: How to check your tax refund status online using PAN card? Know step-by-step guide

  July 31, 2024 18:45 IST

  ITR Filing 2024: Today is the deadline for ITR filing. Taxpayers who have filed their returns and are due a refund can expect processing to take 15 to 45 days after e-verification. Refund status can be checked online using a PAN card on the Income Tax e-filing portal.

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  Stock markets open in green in early trade, Sensex surges 79 points, Nifty above 24,872

  July 31, 2024 11:26 IST

  In the early trade, the 30-share BSE Sensex climbed 79 points to 81,535.12 Meanwhile, the Nifty was also up by 15 points to 24,872.50.

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  Income Tax dept warns ITR filers of stern action in case of bogus TDS claim | Check last date

  July 28, 2024 19:42 IST

  In its latest public communication, the Income Tax Department has asked the taxpayers to make "correct and accurate" claims while filing the ITR.

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  ITR filing: 'Over 5 crore returns filed so far this fiscal year', says Income Tax Department

  July 27, 2024 20:42 IST

  The last date to file the Income Tax Returns for the assessment year 2024-25 and financial year 2023-24 is July 31. Once filed the ITRs will be processed and verified by the department.

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  Income Tax assessment year 2024-25: How does your ITR get processed by tax department? Details

  July 08, 2024 17:46 IST

  The last day to file the Income Tax Return (ITR) is July 31. After the returns are filed, the department will verify the claims and subsequently initiate the refunds accordingly. Know about how the ITRs are processed and what steps to take.

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  Sensex touches record high of 76,787, days after huge bloodbath on Lok Sabha election counting day

  June 07, 2024 15:37 IST

  The Sensex has reached an all-time high just days after experiencing a significant downturn on election counting day on June 4. The surge follows a period of uncertainty and fluctuation, demonstrating the dynamic nature of the stock market in response to political events.

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  Income tax department cracks down on PAN fraud for false HRA claims

  April 01, 2024 9:23 IST

  The income tax department has uncovered a scam involving the fraudulent use of PANs to claim house rent allowance (HRA) without actual tenancy, with around 8,000–10,000 high-value cases identified.

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  New Tax regime rules to come into effect from today: Check deductions, rebates, changes in tax slab

  April 01, 2024 6:21 IST

  The rebate limit has also been increased under the new tax regime where for incomes up to ₹7 lakhs, the applicable rebate limit is now ₹25,000.

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  Filed ITR but getting a mismatch notice? Here's what you can do to resolve it

  March 28, 2024 20:13 IST

  Income Tax Returns are filed annually depending on a person's annual income. However, sometimes a mismatch occurs between the information provided by a person in the I-T return. Let's take a look at how one can resolve this issue.

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  Is your life insurance premium above Rs 5 lakh? Check new tax rules

  August 17, 2023 15:09 IST

  As per the change, for policies issued on or after April 1, 2023, the tax exemption on maturity benefits under Section 10(10D) might be relevant in the event that the total premium paid by an individual depends on Rs 5 lakh a year.

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  Old income tax regime with higher deductions remains more attractive for taxpayers than the new one

  August 08, 2023 17:58 IST

  85 percent people opted for the Old Regime while 15 percent were in favour of the new one.

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  What are the penalties under Income Tax Act? Check details

  July 26, 2023 14:13 IST

  A penalty of Rs 5,000 if the refund is completed after the due date specified in section 139(1). However, if the total amount received does not exceed 5 lakhs, the penalty will be Rs 1,000.

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  ITR filing: Check these advantages that you can get from filing income tax returns before deadline

  July 21, 2023 13:02 IST

  The majority of people frequently view the process of filing income tax returns as time-consuming and cumbersome. That is the motivation behind why many choose to skip documenting returns.

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  How to update bank account and other details post ITR filing: A step-by-step guide

  July 20, 2023 13:00 IST

  ITR filing: Fortunately the tax department gives a choice to alter/change the bank and individual subtleties after filing the tax returns, that implies these mistakes can be amended.

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  Income Tax Return: 10 ITR filing mistakes to avoid, check all details here

  July 18, 2023 13:08 IST

  ITR filing: July 31 is the due date to document personal government forms for the assessment year 2023–24 (relating to FY23), so the perfect opportunity to begin the process is when you get your Form 16.

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  ITR filing: How to file income tax return without Form 16? KNOW HERE

  July 13, 2023 15:48 IST

  Form 16 is a record of Tax Deduction at Source (TDS), and it conveys the subtleties of complete expenses paid in a monetary year by a salaried citizen. The TDS certificate that an employer issues at the conclusion of a financial year is known as Form 16.

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  Not liable to pay tax? Submit form 15G/15H to avoid TDS

  April 11, 2023 16:13 IST

  ITR Filing: If your income is below the exemption limit, send in Forms 15G or 15H right away to avoid the TDS on your investments.

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  Date for linking PAN-Aadhaar extended: Check new date

  March 28, 2023 16:07 IST

  The Income Tax department on Tuesday informed that the date for linking PAN and Aadhaar has been extended to June 30, 2023.

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  Calculate your income tax under new regime in the IT calculator: Check how to use it

  March 05, 2023 10:51 IST

  New Income Tax Regime, IT Calculator: Tax department has stated that a dedicated tax calculator is available on the website of Income tax to compare the old and new tax regimes for individuals and for everyone as per Section 115 BAC.