An SBI report predicts a surge in the average income of the Indian middle-class population, and the number of people filing income tax returns will increase by 85.3 per cent by FY2047.
The deadline for individuals to file their income tax return for the assessment year 2023-24 was July 31, 2023. In case you missed filing your return by the due date, here are the consequences
Avoid late filing of ITR to save on interest and late fees. Learn about the necessary documents, relevant ITR forms, and deductions.
It is important to correctly report any income you receive through moonlighting, while filing your income tax return in order to avoid getting pulled up by the tax authorities
As per the Income Tax Act, a minor’s income must be added to the parent’s income; however, if the child earns it from his special talent, it is taxed in the hands of the minor.
Irdai has been engaging with various stakeholders to ensure robust development and smooth implementation of its supervisory framework for the interest of the public.
If you have missed the deadline of July 31, 2023, to file Income Tax Returns (ITR), you can still file a belated return by paying a penalty before December 31, 2023.
The last date for filing income tax return is July 31, 2023. If you have not done it yet, you should do it now
Here's a comparative analysis of expert-assisted and self-assisted rates on the top five ITR filing services platforms. Explore additional CA services at extra...
Learn how to file income tax returns without Form 16 in this guide. Learn from expert insights and step-by-step instructions to ensure a hassle-free ITR filing...
The I-T Department clarified that NRIs must update their residential status with supporting documents to reactivate their PANs. It also urged disclosure of...
Here’s a step-by-step guide for taxpayers to file their income tax returns effortlessly. Learn how to choose the right ITR form and file returns accurately.
The Central Board of Direct Taxes has issued a notification outlining the process for businessmen and professionals to continue with the old tax regime
The annual exercise of tax filing becomes tedious if proper information is not available. Here is the list of documents you can refer to before you file your...
One can save long-term capital gains up to Rs. 50 lakh by investing in bonds of specified financial institutions within six months from date of sale of asset....
The income tax department has released online forms for ITR-2. Online ITR is an easier way for individual taxpayers to file their returns. Read on to know who...
Filing taxes in India can be challenging, especially without Form 16. However, you can easily navigate the process with the right approach and proper...
If the taxpayer doesn’t file tax return in response to the notice under section 142 (1), such cases will also come under the scrutiny of the Income Tax...
The ITR 2 form is now available for individuals and Hindu undivided families to file their income tax returns for the financial year 2022-23. This guide...
AIS for Taxpayer, a mobile application from I-T Department, helps taxpayers by providing comprehensive tax-related information. Read on to learn more.
If a taxpayer identifies errors in the financial transactions stated on his/her annual information statement (AIS), he/she can raise the issue with the income...
Capitals gains will be computed as per the value mentioned in the stamp duty or the circle rate. Rooms in a chawl are generally held on a tenancy basis and not...
To file your income tax return with the ITR-1 Sahaj form, you would need Form 16, house rent receipt (if applicable), investment payment premium receipts (if...
CBDT has notified income tax return forms for the assessment year (AY) 2023-24 to help taxpayers prepare their income returns in advance.
As per Budget 2022, any income from the transfer of VDA will attract a tax rate of 30 per cent. In addition, no deduction is allowed regarding any expense or...
