Many taxpayers mistakenly believe the New Tax Regime offers no deductions. However, salaried employees and pensioners can claim a Rs 75,000...

Manoj Soman had not filed an ITR for the relevant assessment year, which is FY 10-11 in this case. Based on information available through t...

Individuals and HUFs without business income but with complex income sources like salary, multiple house properties, or capital gains can f...

With the utilities for ITR filing for AY 2026–27 being available now, many taxpayers are planning to file their returns early. However, inc...

A Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...

Income tax return AY 26-27: The Income Tax Department has launched Excel utilities and online filing for ITR-1 and ITR-4 for the Assessment...

Individuals eligible for ITR-1 filing for AY 2026-27 must file by July 31, 2026. This form is for resident individuals with income up to ₹5...

Salaried individuals can significantly reduce their tax liability under the new tax regime by strategically utilizing allowances and perqui...

The Income Tax Department has revised ITR forms for FY 2025-26, introducing new disclosure requirements for capital gains, trading, and for...

The new tax regime offers lower rates but removes many deductions, making a thorough comparison with the old regime crucial. While both reg...

A Mumbai man faced a tax notice for using Rs 13 lakh cash to pay his credit card bill. He explained the cash as gifts from his wife, father...

Salaried employees need to collect Form 123 from employers by April 30, 2026. This form details perquisites like meal card benefits. It is ...

Markets experienced a volatile session, closing weaker on Tuesday due to the monthly derivatives expiry. Analysts note the Nifty is attempt...

Navigating income tax deadlines for FY 2025-26 (AY 2026-27) is crucial to avoid penalties. The Income Tax Department has set specific due d...

Salaried employees can now claim meal card tax benefits under both old and new tax regimes from Tax Year 2026-27. For AY 2026-27, the benef...

Resigning from a job in FY 2025-26 and receiving salary arrears in FY 2026-27 can lead to a higher tax liability. To avoid this, taxpayers ...

New Income Tax Return forms are here for Assessment Year 2026-27. A key change is a new field for a secondary address. Contact details are ...