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Filing ITR? Don’t ignore the ‘nature of employment’ field; it can affect NPS & retirement tax benefitsThe "Nature of Employment" field in the ITR is more than a routine disclosure. An incorrect selection can affect certain tax benefits, incl...
ITR filing AY 2026-27: 8 costly mistakes taxpayers should avoid this tax return filing seasonThe I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax ...
ITR filing for FY 2025-26: Key changes in due dates, ITR forms, and F&O disclosure rules taxpayers must knowThe deadline for filing income tax returns for FY2025-26 has arrived, with new rules and forms in effect. Notably, ITR 3 and ITR 4 filings ...
Paying rent above Rs 50,000? Failure to deduct TDS can make you an assessee in default; know what to doTenants paying over Rs 50,000 monthly rent must deduct TDS. This applies to individuals and HUFs not requiring tax audits. The TDS rate is ...
Hong Kong-based son gets tax notice after father buys insurance policy in his name with cash; he fights back and wins case in ITAT MumbaiAn NRI in Hong Kong faced an income tax dispute after withdrawing cash from his NRE account to give to his father. The father used this mon...
Leave encashment tax rules for AY 2026-27: How much exemption salaried employees can claimITR Filing 2026-27: Salaried employees can claim tax exemption on leave encashment at retirement. While government employees enjoy full exe...
Wife’s MBA degree or past employment with MNCs can’t stop her from demanding maintenance, rules HCAn Allahabad High Court ruling states a wife's education or earning potential does not disqualify her from maintenance. The court considere...
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...
ITR filing deadline: What is the last date for filing returns for taxpayers not requiring an audit?ITR deadline for non-audit taxpayers: The process of filing ITR for FY 2024-2025 has become more complex due to changes in the capital gain...
ITR filing last date FY2023-24: Missed ITR deadline or made mistake in ITR? File a revised, belated return by December 31, 2024ITR filing due date: December 31, 2024, is the last date to file belated and revised ITR for FY 2023-24 (AY 2024-25). A taxpayer can file a...
Taxpayers getting faster refunds this year? FM says ITR processing time reduced to 10 days from 93 daysIncome tax refund: You can expect faster tax refund this year, however not everybody will benefit from this. Cetain complicated income tax ...
Four critical changes in ITR filing process this year that you should knowIf you are trying to file your income tax return in the last minute, then there are certain changes in the process of filing income tax ret...
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...
Over 63 L ITRs Filed till 10 pm on Last DayThe deadline for filing I-T returns by those taxpayers who do not have to get their accounts audited for the fiscal that ended on March 31,...
Will banks be open on ITR filing last day, July 31?For salaried taxpayers, the deadline to submit an ITR (AY 2022-23) is July 31, 2022. This year's deadline comes on a Sunday, a day off from...
Today is last date of filing belated, revised ITR for FY 2019-20If you are filing a belated ITR, then do keep in mind that you will be required to pay a penalty of Rs 10,000. The government had earlier e...
Income tax dept creates world record with filing of 49 lakh ITRs in one dayCBDT also stated that a total 5.65 crore ITRs were filed till August 31, the last date of filing returns.
ITR filing: Use this last day checklist and avoid penaltyThe deadline to file your income tax return is today and if you file after today, you will have to pay a late fee, also make sure you repor...
Delayed release of electronic ITR forms may compel CBDT to extend the filing deadlineThe last date to file ITR is July 31, 2018 and almost a third of the time is over. The CBDT has not released the utility for filing of retu...