Mysuru: Income Tax officers from Bengaluru, New Delhi, Chennai, Goa and Kolkata launched raids at 30 locations in Mysuru, Bengaluru and Mandya at 5 am today, targeting entrepreneurs and builders suspected of tax evasion across multiple businesses. In Mysuru, IT sleuths arrived at 6 am, conducting searches at various locations. They raided homes and offices…
New Regime Tax Slabs Rs. 0-4 lakh Nil Rs. 8-12 lakh 10 percent Rs. 16-20 lakh 20 percent Rs. 20-24 lakh 25 percent Above Rs. 24 lakh 30 percent New Delhi: Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025, her eighth consecutive one in Parliament this morning. This accomplishment has set a new…
Mysuru: A one-day outreach programme by the Income Tax (I-T) Department, in association with Mysore Chamber of Commerce and Industry (MCCI), Institute of Chartered Accountants of India (ICAI), Mysuru Branch and Institute of Chartered Tax Practitioners of India (ICTPI), was held at a private hotel on B.N. Road here on Monday. Joint Commissioner of Income…
Mysore/Mysuru: Any person who receives any income by way of Salary, Pension, Interest, Profession fee, etc., and who have NOT filed their Income Tax return for the FY 2023-24 (AY 2024-25) shall file on or before July 31, 2024 which is the due date. Under Section 234F, late filing of Income Tax returns attract a…
Mysore/Mysuru: Timely tax payment by the tax-payers will help government implement various development projects and achieve the ambition of India becoming a 5 trillion dollar economy, said Kalpalata Rajan, Joint Commissioner of Income Tax (Range 1), Mysuru. Addressing the gathering during an interaction programme organised by Institute of Chartered Accountants of India (ICAI), Mysuru Branch,…
In 1961, India got itself a shiny new playbook for taxes, commonly known as – the Income Tax Act of 1961. This playbook acts like the superhero of the tax world, governing everything from how taxes are imposed, managed, and collected in India. Since then, this law has undergone numerous modifications to adapt to the…
Mysore/Mysuru: Any person who receives any income by way of Salary, Pension, Interest, Profession fee, etc., and those who have NOT filed their Income Tax Return for the FY 2022-23 (AY 2023-24) shall file on or before July 31, 2023 which is the due date. Under Section 234F, late filing of Income Tax Return attracts…
Two-day event begins; facilitation centre at ICAI Bhawan, Bank Employees Colony, Bogadi Mysore/Mysuru: The Mysuru branch of the Institute of Chartered Accountants of India (ICAI) hosted a two-day ‘Tax Clinic’ starting today from 11 am to 6 pm. This programme, organised by the Direct Tax Committee of ICAI, is supported by the Income Tax Department…
In the Union Budget 2022, the Central Government has introduced the new scheme which permits all tax-payers to file an “Updated Return” within 24 months from the end of the relevant assessment year. The new provision allows the tax-payers to update or file their Income Tax returns on payment of additional tax. It is issued…
Visit Income Tax Department portal www.incometax.gov.in Earlier, the Income Tax payers or the Income Tax Deductors (TDS)/Collectors (TCS) were paying taxes through NSDL portal. Now the Income Tax Department has come out with a new feature to pay Income Tax, TDS, TCS, etc., through its website https://www.incometax.gov.in under e-Pay Tax tab. All the tax-payers who…
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