ITR filing: Taxpayers who miss the regular deadline for filing their income tax return get an additional chance through the updated income tax return (ITR-U) facility, introduced under Section 139(8A) of the Income Tax Act. This option allows individuals to correct errors, add omitted income, or rectify misreporting even after the due dates for belated…
ITR filing FY 2024-25: Even if you don’t have taxable income, you may still be required to file a return under certain conditions. (AI image) By Kuldip KumarThe Government recently notified the income tax return (ITR) forms for the financial year 2024–25. While there aren’t many changes, most of them are aimed to facilitate the…
Elon Musk’s Department of Government Efficiency is seeking access to troves of sensitive taxpayer data at the IRS, two people familiar with the inner workings of the plan who were not authorised to discuss the matter publicly told The Associated Press on Monday. If successful, Musk and his group would have access to millions of…
New Income Tax Bill 2025 FAQs Answered New Income Tax Bill 2025: Finance Minister Nirmala Sitharaman introduced the New Income Tax Bill 2025 in Lok Sabha earlier this week. The New Income Tax Bill is expected to replace the decades old Income Tax Act 1961. It is less complicated and easier for the taxpayer to…
The U.S. Department of Justice building (AP Photo) The US Department of Justice has spent over 100 million dollars to promote DEI, Restorative Justice, and SEL in schools. A recent report released by Parents Defending Education (PDE), a nonprofit advocating for parental rights in education, shows over $100 million in taxpayer money was spent on…
Top Taxpayers: शाहरुख खान को यूं ही किंग खान नहीं कहा जाता. शाहरुख खान बॉलीवुड में अपनी बादशाहत और कमाई के मामले में ही नहीं, बल्कि टैक्स चुकाने के मामले में भी टॉप पर हैं. अगर टैक्स चुकाने के मामले में देश के पांच टॉप इंडिविजुअल्स को देखें तो शाहरुख ख़ान का नाम सबसे ऊपर…
NEW DELHI: Government will exceed the Rs 22.1 lakh crore direct tax collection target set for the current fiscal, Central Board of Direct Taxes (CBDT) chairman Ravi Agarwal said on Monday.Agarwal also said that taxpayers who have not disclosed their foreign income or assets in their ITRs have time till Dec 31 to file their…