Taxpayers who have missed the last deadline will continue to be liable to pay tax along with interest and penalty.They will also be liable to be prosecuted under Section 276CC of the Income-tax Act, 1961, for wilful failure to file ITR
2 min read10 Apr 2019The average growth of the Indian economy between 2014-15 and 2017-18 was 7.3%, fastest among the major economies in the world, the ministry said in Year End Review 2018
1 min read2 Jan 2019Indian Oil Corporation, Oil & Natural Gas Corporation (ONGC) and NTPC, contributed 13.37 %, 12.49 % and 6.48%, respectively to the total profit earned by CPSEs during 2017-18, the survey revealed
1 min read27 Dec 2018During 2017-18, out of the 6 national parties, only BJP declared receiving an income of ₹210 crore from contribution through electoral bonds
2 min read18 Dec 2018The negative impact of demonetisation was felt in all segments, especially in farm and industry
3 min read30 Aug 2018Demonetisation was proclaimed by the Narendra Modi government as a solution to India's black money and fake currency problems and later as a push towards a digital economy
2 min read3 Sep 2018Demonetisation helped in checking black money, promoting digital transaction and weeding out fake notes: Economic Affairs Secretary S.C. Garg
1 min read29 Aug 2018All but 10,720 crore of the 15.4 trillion returned, indicating the note ban hasn't worked as desired
2 min read29 Aug 2018Outlook raises possibility of another rate hike, say experts
3 min read29 Aug 2018There is no restriction on the number of times an income tax return (ITR) can be revised, if it fulfils the stipulated criterion
4 min read26 Aug 2018The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared