The government has announced that income taxpayers will not be eligible to invest in Atal Pension Yojana (APY) from October 1, 2022. However, investments made in Atal Pension Yojana are eligible for deduction under section 80CCD (1) of the Income-tax Act, 1961. Can an existing investor of the scheme continue to claim tax deduction under section 80C of the Income-tax Act?

The Central Board of Direct Taxes (CBDT) issued income tax refunds totaling more than Rs. 1.14 lakh crore to more than 1.97 crore taxpayers.

The government has enabled the option of making payments via credit card, UPI, and Net banking on the e-filing income tax portal. However, if an individual opts for the 'payment gateway' method on the e-filing portal to make income tax payments, then certain charges may be applicable if they opt for such a payment method.

The Central Board of Direct Taxes (CBDT) have asked the taxpayers to file ITR-U if they have won money in online games in FY 2019-20 and Fy 2020-21. If the income tax department later traces such income, such taxpayers will face consequences of a penalty and other legal actions under income tax laws.

Sudhir Kaushik of Taxspanner.com tells readers how they can optimise their tax by rejigging their income and investments.

The income tax department is sending emails to the individual taxpayers asking them to confirm that the claims made in their ITR are correct. Such emails are sent if an individual has an income tax refund due to them. An individual is required to send a confirmation by submitting a response on the new e-filing income tax portal.

As per the announcement made in Budget 2020, if an employer's total contribution to the EPF, NPS and superannuation fund exceeds Rs 7.5 lakh in an FY, then the excess contribution will be taxable to an employee. Further, any interest, dividend etc. earned on the excess contribution is also taxable. This income tax rule is effective from April 1, 2020, onwards.

Find out the taxation liability of a parent if a minor child has an income, whether it is earned or unearned, says Riju Mehta

As a return filed without verification is considered invalid, it will amount to the return not being filed, and the consequences of delay in filing a return may become applicable.