The Income Tax Department has asked all citizen filing income tax returns to not make bogus claims for expenses, under-report their income or exaggerate deductions, this is a punishable offence causing delays in the issuance of refunds, reported PTI on Sunday, July 28. The income tax return (ITR) filing session for the assessment year 2024-25…
Mumbai: ICICI Bank expects a compression of 10-14 percentage point in its liquidity coverage ratio (LCR) from the Reserve Bank of India’s recent guidelines, senior officials of the private lender said in a call with analysts after the June-quarter earnings on Saturday. Last week, the RBI came out with draft guidelines asking banks to set…
At a time of rising penchant for luxury homes, DLF Ltd is on firm ground. The residential realty developer clocked pre-sales or bookings of â‚ą6,404 crore in the June quarter (Q1FY25), up more than 200% year-on-year. This whopping increase was driven by the launch of the second phase of the luxury project Privana West in New Gurugram….
The Union government clarified on Sunday that tax clearance certificates would be mandatory only for those accused of financial irregularities or who have substantial tax arrears. The clarification comes after a Budget 2024 proposal that would have made them mandatory for all overseas travellers sparked outrage on social media. In the Finance Bill 2024, the…
The deadline to file income tax return (ITR) for financial year 2023-24 is July 31. It is a well-known fact but what most taxpayers are not aware is that the deadline is highly unlikely to be extended. If you recall, a similar situation happened last year. A large number of taxpayers were hoping for the…
The combined market valuation of six of the top 10 valued firms jumped â‚ą1,85,186.51 crore last week, with Life Insurance Corporation of India (LIC) and Infosys emerging as the biggest gainers. Last week, the BSE benchmark climbed 728.07 points or 0.90 per cent. The valuation of LIC surged â‚ą44,907.49 crore to â‚ą7,46,602.73 crore. Infosys added…
The number of income tax returns (ITRs) filed in assessment year (AY) 2024-25 has increased by 8 per cent to five crore so far, said the Income Tax Department in a statement on Saturday. The IT department has tied up with tech major Infosys to deal with frequent glitches and other technical issues faced on…
TCS credit would be collected at the time of payment or remittance and be available while filing the income tax return. If the TCS was higher than the net tax liability as per the income tax return, then the taxpayer would get a refund of the TCS. The problem is more acute for salaried taxpayers,…
Bank Holidays in August 2024: This being the last week of July, we take a look at the holiday list in the upcoming month. Here is a list of bank holidays you can expect in August 2024. Apart from festivals and national holidays, the year will also have a total of two Saturdays and four…
Latest Market News Today Live Updates: Catch today’s market wrap-up! Track Nifty 50 and Sensex movements, along with top gainers and losers. See how Asian and US markets fared and which sectors led the charge (or declined). Summary: Follow Mint’s market blog for real-time updates on your favourite companies. This blog keeps you informed on…
