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Income Tax Returns

Government and Policy

CBDT issues new Income Tax Return Form 5 for the Assessment Year 2025-26 with key updates in reporting capital gain and loss

ANI -
The Central Board of Direct Taxes (CBDT) has issued the new Income Tax Return (ITR) Form 5 for the Assessment Year 2025-26
News Reports

Modi government’s efficient policy is helping the growth of the middle class: SBI report reveals upward mobility, threshold income to reach ₹50 lakhs in...

Dibakar Dutta -
The per capita income is expected to rise from ₹2 lakhs in this FY2023 to ₹14.9 lakhs by FY 2047.
News Reports

Haj Committee tacitly tells Muslims to not comply with the law as logjam between Govt and Muslim clerics continue over IT returns

OpIndia Staff -
Since Nov, Muslim clerics have been demanding that the 5% GST levied on Haj pilgrimage and the mandatory filing of tax return be exempt
Opinions

Two Income Tax regimes with and without deductions, which one is better for you? A ready reckoner

Ashutosh Muglikar -
A comparative analysis between the new tax regime without exemptions and old income tax regime with exemptions and deductions
News Reports

Record number of Income Tax Return filed in a single day, I-T dept to issue PAN if ITR filed with only Aadhaar

OpIndia Staff -
The dept will allot a fresh PAN to a person who files I-T Returns (ITR) with only Aadhaar as part of a new arrangement to link the two databases
News Reports

Income Tax department dismisses rumours of another extension of due date for Tax filling

OpIndia Staff -
The CBDT had already provided an extension to the filing of Income Tax returns by one month and declared August 31, 2019, as the due date for submitting the returns.
News Reports

Read all the big announcements made by Finance Minister Nirmala Sitharaman to boost the economy

OpIndia Staff -
Union Finance Minister Nirmala Sitharaman announced widespread reforms in order to address economic concerns.
Economy and Finance

Budget 2019: Piyush Goyal, PM Modi hail the contributions of the middle class in country’s economy, bring tax relief

OpIndia Staff -
Piyush Goyal showers praise for the middle class, as he announces major benefits and tax relief.
Economy and Finance

Media falsely claims that 2 out of 3 chartered accountants don’t pay income tax, here is the truth

OpIndia Staff -
The Institute of Chartered Accountants of India has expressed disappointment at misrepresentation of facts by the leading dailies
News Reports

PM Modi hails the contribution of corporates, calls for channeling their resources for social development

OpIndia Staff -
The PM stated that he does not agree with the culture of abusing corporates.
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