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Business News/Topic/ Income

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Indian taxpayers file their income tax returns at a special income tax filing facility at Pragati Maidan in New Delhi, 29 July 2007. There is a last minute rush to file income tax returns with a deadline of 31 July. India has a population of some 1.1 billion, of these only some 30 million are taxpayers. AFP PHOTO/ Manpreet Romana

CBDT orders processing of late tax returns, refunds

2 min read . 26 Jun 2025

The protocols involve norms to ensure that fresh produce such as mangoes reaches their destination in optimal condition when transported by sea. PTI Photo

India to develop sea protocol to boost mango exports and reduce spoilage

2 min read . 26 Jun 2025

The challenge of measuring income is particularly acute in developing countries, where a large portion of the workforce defines itself as self-employed. (Mint)

TCA Anant: A household income survey will be valuable if clarity beats confusion

4 min read . 26 Jun 2025

While filing your income tax return, matching Form 16 and Form 26AS ensures there’s no under-reporting or overstating of income. (Pexel)

ITR: What to do if details don't match on Form 16 and Form 26AS?

3 min read . 26 Jun 2025

In the 1950s, the ministry of statistics and programme implementation tried to collect income data as part of its consumption expenditure survey. (Mint)

All-India income survey: Let’s not miss this opportunity to get it right

3 min read . 25 Jun 2025

For FY 2024-25, last date to file income tax return is Sept 15

ITR filing: Deadline is Sept 15, will there be penalty for filing after July 31?

2 min read . 24 Jun 2025

Payment of rent to HUF for property registered in individual names.

Can I pay rent to a HUF when the property is registered in an individual’s name?

2 min read . 24 Jun 2025

ITR-2 can be filed by individuals or Hindu Undivided Families (HUFs) who are not eligible to file ITR-1 (Sahaj)

What are ITR-2, ITR-3 and who should use them while filing their return?

2 min read . 23 Jun 2025

The Sultanate of Oman has decided to impose a 5% income tax on people of the nation who have an annual income of 42,000 rials ($109,000) or above.

Oman to impose income tax on top earners, becomes first Gulf state to do so

2 min read . 23 Jun 2025

Preeti Sharma says that it is advisable to consult a tax expert if a taxpayer has more complex income.

Chances of inquiry by tax dept higher in old tax regime: Preeti Sharma

6 min read . 22 Jun 2025

The Income Tax Department issued ₹86,385 crore of corporate and personal income tax refunds in the period, a 58% jump from the year-ago period.

Jump in refunds depresses Centre’s net direct tax revenue

2 min read . 21 Jun 2025

To claim Section 89(1) income tax relief, always provide a structured break-up of arrears—avoid filing errors.

Can I claim Section 89(1) relief without the detailed break-up of arrears?

2 min read . 20 Jun 2025

Filing ITR: It is recommended to use tax calculator to evaluate tax liability

ITR 2025: How tax calculator can help you file your return with ease?

1 min read . 20 Jun 2025

The excel utilities of two forms (ITR-1 and ITR-4) have already been released

Income Tax: Taxpayers urge I-T department to release excel utilities

1 min read . 21 Jun 2025

Set-off of losses from crypto investment or trading is not allowed to be set off against any other income or for carry forward to subsequent years.

Income Tax: Report crypto gains in your tax return as taxmen ‘nudge’ investors

1 min read . 18 Jun 2025

Taxpayer can also update their bank account on income tax portal

Income Tax: Make sure your bank account is updated to get refund on time

1 min read . 18 Jun 2025

Deducting the permissible exemptions is crucial to calculating net taxable income. (iStockphoto)

How to calculate tax if capital gains are your sole income in FY25

4 min read . 18 Jun 2025

Public grievance redressal has gained renewed attention in recent years, with rising concerns over taxpayer services and procedural hurdles in customs clearances.

Cabinet secretariat to hear taxpayer, trader grievances on tax, customs

3 min read . 16 Jun 2025

Filing ITR: Salaried taxpayers must cross check TDS information given on form 16 against the data given in 26AS

ITR 2025: Salaried taxpayers must be aware of these 7 key points

2 min read . 16 Jun 2025

REC board approves raising ₹1.55 lakh crore via bonds (Pixabay)

Frontloaded RBI cuts, flush liquidity: What should bond market investors do?

3 min read . 16 Jun 2025