Invested in US stocks directly and made forex gains due to depreciating Rupee? Know how to compute tax on forex gains and report it in ITRIndian residents investing in US stocks face forex gains tax. These gains are taxable as capital gains when US dollars are converted back t...
Rs 13 lakh cash payment for credit card bill triggers tax notice; man wins case after ITAT accepts ‘family gift’ explanationA 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...
Husband takes Rs 25.06 lakh loan in wife’s name, runs off with car, jewellery & then seeks maintenance; HC slaps Rs 15 lakh cost on him for false affidavitA husband took Rs 25.6 lakh personal loans in his wife's name, spent the money on a lavish lifestyle, and fled with her car and jewellery. ...
ITR filing 2026: Don’t miss these key income tax deadlines for FY 2025–26 (AY 2026-27)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...
Income Tax dept seeks details from NRIs, offshore firms on unlisted share deals, flags valuation and fund source concernsIndia’s tax department has asked NRIs and offshore entities to justify investments in unlisted shares, seeking details on fund sources and ...
ITR filing 2026: Government releases ITR forms for AY 2026–27; check details of ITR-U and ITR-VNew Income Tax Return forms are now available for Assessment Year 2026-27. The updated ITR-U form allows taxpayers to correct past filings....
March 31 is deadline for updated ITR: Have unreported income, applied wrong rate of tax? File ITR-U with payment of additional tax, else be ready to pay higher penaltiesIndividuals can now file an updated Income Tax Return (ITR-U) to correct past errors, including unreported income or incorrect tax rates. T...
Latest ITR forms have new section for cryptocurrency income: These details will be needed when filingThe new schedule for VDA requires details like date of acquisition, date of transfer head under which income to be taxed (capital Gain), co...
What to do if you have missed income tax return filing deadline of July 31The last date for filing income tax return (ITR) for FY 2021-22 (AY 2022-23) is July 31, 2022. If this deadline is missed by the individual...
What is the last date for filing ITR for FY 2022-23 (AY 2023-24)?It's important for taxpayers to understand that currently the ITR that is being filed is for the financial year 2022-23 which ended on Marc...
ITR: Missed deadline of December 31, 2022, to file these ITRs for FY 2021-22 (AY 2022-23)? Here’s what you can doDecember 31, 2022 was the last date for filing certain income tax returns. These include - belated ITR and reivsed ITR. However, if you hav...
E-filing of income tax return forms 1, 4 for FY2022-23 (AY 2023-24) has started via offline methodThe income tax return forms were notified by the Central Board of Direct Taxes (CBDT) in the February 2023, well after Budget 2023. This wa...
CBDT releases ITR forms for FY 2022-23 (AY 2023-24)There are no major changes in the ITR forms notified by the government. The income tax return forms will differ for taxpayers depending on ...
December 31, 2022, is last day to file belated, revised income tax returns for AY 2022-23Under the income tax laws if an individual has not filed income tax return for FY 2021-22 on or before July 31, 2022, then December 31, 202...
5.83 cr Income Tax returns filed till Jul 31, record 72.42 lakh on last dayThe due date for filing of income tax returns (ITRs) by salaried class and individual category taxpayers, who do not have to get their acco...
ITR filing last day: Any chance of deadline extension?July 31, 2022 is the due date for filing ITR for FY2021-22 for individuals whose accounts don’t need auditing. A belated ITR can be filed a...
ITR filing: Which income tax return form is applicable to you for FY 2021-22?Income tax return (ITR) filing is mandatory if an individual's gross total income exceeds Rs 2.5 lakh in a financial year (FY). If an indiv...