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  The due date for filing Income Tax Return without a late fee is July 31. ITR filing:  The government has made it mandatory to file Income Tax Returns for all individuals including senior citizens. But there are certain situations where the government provides exemptions to certain individuals, mainly senior citizens or super senior citizens. Read More:   ITR filing: 9-point checklist to help you file your income tax return within 30 mins Starting FY 2021-22, super senior citizens aged 75 years and above are not required to file ITR if they meet certain criteria defined in the Income Tax Act, 1961. The government had through Finance Act 2021 inserted a new Section 194P in the Income Tax Act, 1961 to define certain conditions to allow exempting senior citizens from filing Income Tax Returns. The new Section 194P came into effect on April 1, 2021. Let’s see under what circumstances super senior citizens can be exempted from ITR filing: Read More:   ITR filing: How to ...

  Taxpayers should note that if you didn’t respond to the I-T department’s communication or message regarding a defective return, then the ITR filed will not be processed and be treated as invalid. ITR status check online: The Income Tax department allows taxpayers to claim for the return of any excess tax paid by them to the government. For this, they have to file Income Tax Return. The last date to claim your excess payment is July 31.  After you file ITR, the I-T department allows taxpayers to check if the department has accepted and processed their returns. To check ITR status, taxpayers will have to visit the I-T department’s website and log in. When you log in, you are provided with information like downloading the return/notification. Read More:   ITR Filing AY 2022-23 Last Date Extension Latest Updates: All You Need to Know Besides, you can also see the previous ITR filings. According to the I-T department’s portal, there are different types of ITR statuses. Once ...

  Media reports have hinted that the government is working on a formula which will automatically calculate the salary component once the Dearness Allowance goes beyond 50 percent. The new calculation –probably could be termed as Automatic Pay Revision. New Delhi: 8th Pay Commission Latest Updates: Even as the employees union are pressing for the hike in fitment factor of the high bracket under the recommendations of the 7th Pay Commission, a new memorandum is purportedly being prepared by them in this regard, which will soon be submitted to the government, said media reports. The recommendations in this memorandum reportedly mentions that either the salary is hiked as per the highest bracket of the fitment factor or an 8th Pay Commission be implemented. Read More:   7th Pay Commission: 18-months DA arrears issue likely to be taken up soon, check updates MINIMUM SALARY AS PER HIGHEST FITMENT FACTOR UNDER 7TH PAY COMMISSION According to online media, central employees’ organizat...

After the near elimination of the budgetary subsidy on liquefied petroleum gas (LPG) in FY22, the Union government may have to provide a tidy sum for this purpose in FY23. Even though no subsidy has been transferred to the bank accounts of households as cooking gas subsidy since June 2020, an incomplete pass-through of costs to consumers has inflated the state-run oil marketing companies’ under-recoveries on this count. Also, the re-introduction of LPG subsidy under the Ujjwala Yojana, which is meant for low-income people at the rate of Rs 200/cylinder, in May 2022 is seen to cost Rs 6,100 crore in FY23. Read More:   Indian Railways Update: IRCTC Cancels 149 Trains Today on July 26; Check Full List Here The ministry of petroleum is understood to have flagged requirement of about Rs 40,000 crore to cover LPG under-recoveries of OMCs in H2FY22 and the current fiscal, citing elevated global crude and LPG prices. Nomura has estimated OMCs’ under-recoveries on LPG in Q1FY23 alone at Rs ...

  Income Tax Return (ITR) filing due date 2022 is near. It is important for every taxpayer to file their ITR before the last date. Failing to do so leads to a penalty in the form of a late filing fee. The last date to file ITR this year for most of the taxpayers for FY 2021-22 is 31st July. One should know that there are different ITR due dates or deadlines for different types of taxpayers. Read on to find the Income Tax Return filing due date for different types of taxpayers, where to file the returns and what it costs if someone misses the deadline.  ITR FILING DUE DATE 2022 FOR INDIVIDUALS, SALARIED The Income Tax Return filing deadline for individuals and salaried employees whose accounts are not required to be audited is July 31.  Read More:   What should you keep in mind while filing your income-tax return? ITR FILING LAST DATE 2022 FOR HUF According to the Income Tax Rules, the last date to file ITR for Hindu Undivided Families HUF), whose accounts don’t need ...

  The last date to file ITR is July 31 which is Sunday –a holiday for banks. ITR filing every year is the duty of taxpayers. ITR filing last date: Less than a week is now left for the last day to file the Income Tax Return (ITR) for the financial year 2021-22. The government has dropped hints that the last date for ITR filing is unlikely to be extended. Read More:- 7th Pay Commission Latest News: From 4% DA hike to 18-month arrears, central employees to get these 4 benefits in August According to the Income Tax Department on Monday, more than three crore returns have been filed through the e-filing portal to date. “More than 3 crore ITRs for AY (Assessment Year) 2022-23 have been filed on the e-filing portal till 25th July 2022. The due date to file ITR for AY 2022-23 is 31st July 2022. We urge you to file your ITR at the earliest, if not filed as yet,” the department tweeted. The last date to file ITR is July 31 which is Sunday –a holiday for banks. ITR filing every year is the du...

  Bank Holidays in July, 2022: Many bank holidays are regional and may differ from state to state. Please check the list of bank holidays in your city before visiting the branch Bank Holidays in July 2022:  The month of July this year is at its last legs with only eight days left. However, out of these few days, there are four bank holidays still left in July, mainly because of weekends. The Reserve Bank of India, in its rules for implementing bank holidays, has said that lenders will be closed for the second and fourth Saturdays of each month, but will work on other Saturdays. The central bank prepares a monthly list of bank holidays at the beginning of each year, according to which lenders of specific regions remain closed. As per that calendar, there is one more regional bank holiday in July to be implemented. Read More:  ITR Due Date AY22-23: Deadline Remains July 31; Govt Not Considering Extending It There is a bank holiday on July 23 and 24 due to the...

  If you are a salaried employee in India, filing income tax returns is mandatory even if you do not have any tax liability. Filing IT returns comes as a proof of income that can provide you access to a range of financial products such as loans. The last date to file income tax returns for the assessment year (AY) 2022-23 or financial year (FY) 2021-22 is 31 July 2022. Not complying with this deadline will invite a penalty or late fees as applicable depending on the date of filing later. A salaried person is one who is employed with a public or private enterprise and paid a monthly remuneration as salary. If you are new to filing income tax returns online, you must know that it is a very easy process. Visiting the official website of the Income Tax Department, you will find can’t be more user friendly than how it is. Here in this article I will let you know how to file I|T returns in a few simple steps. Read More:   ITR filing: How to file Income Tax Return without Form 16 – E...

  Indian Railways have also decided to change sourced station in 19 trains and short terminate 25 on Saturday. Here’s step-by-step guide to check full list of cancelled trains INDIAN RAILWAYS UPDATE:  Indian Railways has decided to cancel 123 trains, change sourced station in 19 and short terminate another 25 on Saturday, July 23 due to maintenance and operational reasons. Among the cancelled trains are those operating between Maharashtra, Uttar Pradesh, West Bengal, Andhra Pradesh, Telangana, Madhya Pradesh, Karnataka, Tamil Nadu, Kerala, Punjab, New Delhi, Jammu and Kashmir, Assam, Himachal Pradesh, Jharkhand, Bihar and Rajasthan among others. The national transporter have put up a list of fully and partially cancelled trains on its website for the passengers’ convenience. The national transporter have requested passengers to check train details by visiting https://enquiry.indianrail.gov.in/mntes or NTES app before planning their trip. HERE’S FULL LIST OF CANC...