Learning-Centre

Checking tax evasion: from this financial year, tax department will have direct access to capital gains data.

Beginning this financial year, the income tax department will have direct access to details of capital gains made, dividends received and interest earned by investors, which is expected to plug under-reporting or non-declaration of such income.
which means the tax department will have access to information , which can be matched with income tax returns filed by taxpayers. The tax department will also share this information with taxpayers.

Income tax department introduces JSON utility for ITRs, discontinues Excel/Java

The tax filing season with the start of the new financial year from April 1, taxpayers are required to file their income tax returns (ITRs) before respective due dates.