People who are not able to file their income tax returns today, can get relaxed now. The last date to file income tax returns is extended. The Central Board of Direct Taxes, under section 119 of the Income Tax Act,…
Tag: Income Tax
Only 2.77% of Indians Pay Income Tax
01 Sep 11: According to the Ministry of Finance, of the total Indian population of 1.21 billion, only 2.77 percent or 3,35,79,831 (33.57 million) people have paid the personal tax, as on March 2011. But it is seen that the…
Online Filing of IT Returns in India has Jumped to 80 Percent
21 Jun 2011: For the year 2010-11, online filing of income tax returns in India, reached 91.57 lakh, with a growth rate of 80%. It is further expected to reach 7.5 crores in five years. According to SNK Etax Solutions…
Individuals Earning below Rs.5 Lakhs Exempted from Filing Tax Returns
The Union budget for the year 2011-2012, had announced that the individuals having income less than Rs.5 lakh need not file the tax returns. According to the official information the Form 16 issued by the employer to the employee is…