taxpayers

NEW DELHI: The government will allow taxpayers to file an updated tax return within two years from the end of the relevant assessment year, subject to payment of taxes, finance minister Nirmala Sitharaman said on Tuesday while…

UK taxpayers could have to pay as much as £1bn in compensation to former Post Office workers wrongly convicted of theft due to the defective Horizon IT system. The system, which was installed by the Post Office and supplied by Fujitsu,…

Income tax experts say there is need for an enabling provision to deduct tax under Section 194N as cash withdrawn is not an income. In order to discourage cash transactions and move towards less cash economy, the Finance (No. 2) Act, 2019…

Labour has accused the government’s flagship national tutoring programme (NTP) of failing children and taxpayers after official figures revealed take-up rates way below target.Just 10% of this year’s target for children receiving one-to-one…

Will the upcoming Union Budget 2022 bring any tweaks to the existing income tax rates? Taxpayers are expecting some rebate or relief from Finance Minister Nirmala Sitharaman. Last year the government had announced multiple…

The Delhi Airport Metro Express Private Limited (DAMEPL) has told the Delhi High Court that Delhi Metro Rail Corporation (DMRC) is deliberately trying to delay the…

Alternatively, taxpayers can send a physical copy of the ITR filed to the CPC office in Bengaluru Taxpayers who have not e-verified their ITRs for 2019-20 fiscal can complete the verification process by February 28, 2022, as the Income…

Taxpayers who have not e-verified their ITRs for 2019-20 fiscal can complete the verification process by February 28, 2022, as the Income Tax department has given a one-time relaxation to assessees. As per law, an income tax return (ITR),…

Taxpayers who file their tax returns online by the 30 December may be able to enjoy a Christmas bonus. Stefanie Tremain, a director of accountancy firm Blick Rothenberg said: “Generally, any tax due for the previous tax year is due for…

AIS enables a taxpayer to see and verify taxpayer info available with taxmen, provide feedback in case of discrepancies, view/update the Taxpayer Information Summary used for pre-filling of ITR. The Income Tax department on Sunday said…