If you don’t make these 8 disclosures, your ITR may be treated as defectiveFiling income tax returns (ITR) requires careful attention to detail, as certain omissions can lead to a defective ITR. Key disclosures inc...
13 Sep, 2025, 09.43 PM IST
Tax experts warn home sellers: Common mistakes can cost lakhs in capital gains tax. Check what to do and what notSujit Bangar highlights common errors in property sales that lead to overpayment of taxes. He recounts a client's case where ₹1.87 lakh was...
06 Aug, 2025, 05.17 PM IST
How to build a Rs 12 crore retirement fund? Financial expert tells how to do it using just EPF and NPSA financial expert suggests that salaried individuals earning up to Rs 14.65 lakh can eliminate income tax through strategic investments in...
04 Jul, 2025, 03.30 PM IST
Think market income below Rs 12 lakh is tax free? TaxBuddy founder warns how this common mistake could attract big tax noticeMany Indian retail investors are surprised to learn that earning under ₹12 lakh in the stock market doesn't guarantee tax exemption. Confus...
02 Jul, 2025, 02.33 PM IST
ITR not processed, income tax refund pending? I-T dept can legally take till end of 2025 to process itIncome tax refund pending: If income tax department does not process the income tax return (ITR), the taxpayer will not get their income ta...
27 Aug, 2024, 03.33 PM IST
Missing ITR filing deadline can cost you much more than just late filing feeCost of missing ITR filing deadline: Missing income tax return filing deadline of July 31 not only leads to payment of penalty of up to Rs ...
18 Jul, 2024, 01.25 PM IST
Can you carry forward losses while filing ITR under the new tax regime? Read the fine printCarry forward and set off of losses in new tax regime: The income tax laws under the old tax regime allow carrying forward and set off of l...
04 Jul, 2024, 10.13 AM IST
Have income above Rs 3 lakh? Pay zero tax if your income is up to this limit, thanks to rebate under section 87AIncome tax rebate: Under section 87A you can get a maximum tax rebate of Rs 12,500 under the old tax regime and up to Rs 25,000 under the n...
20 Jun, 2024, 12.39 PM IST
Paying rent in cash without a rent receipt? Know why your HRA claim may be rejected, and you may get an income tax noticeHouse rent allowance: Tenants will get into trouble with the income tax department if they are paying rent in cash and the landlord does no...
08 Jun, 2024, 06.43 PM IST
Can you correct a mistake in your filed income tax return before verifying it?You have submitted your ITR and yet to verify it. However, at this stage you discover a mistake made in the filed ITR. Can you skip verifyi...
30 Jul, 2023, 08.42 AM IST
Will PAN-Aadhaar linking deadline be extended beyond June 30?The Central Board of Direct Taxes (CBDT) has extended the last date to link PAN with Aadhaar from March 31, 2023 earlier to June 30, 2023. ...
30 Jun, 2023, 11.18 AM IST
Now ITR filing mandatory if your TDS, TCS is Rs 25,000 or more in a financial yearThe 7th proviso to Section 139 was inserted by the Finance Act, 2019, which provided for certain criteria which mandated the filing of inco...
19 Jun, 2023, 04.02 PM IST
How to correct mistakes made at the time of paying income taxIt is important to ensure that correct details are selected or filled in the tax challan at the time of depositing your income tax. It may ...
12 Jun, 2023, 01.04 PM IST
Opting for new tax regime for TDS on salary? Issues you are likely to face while filing ITRThe Budget 2023 has made changes under the income tax laws, that have an impact on how tax will be deducted from the salary income by an em...
18 Apr, 2023, 04.45 PM IST
Will you be taxed on Diwali gifts received? Check how various sources of gifts will be taxedHave you received high-value gifts this Diwali from your friends and relatives. It may happen that you end up paying tax on Diwali gifts re...
20 Oct, 2022, 09.54 AM IST
Will ITR filing deadline for FY 2021-22 be extended? Here's what tax experts have to sayWith the taxpayers complaining about issues with the new e-filing portal this year as well, are there any chances of the income tax departm...
29 Jul, 2022, 03.18 PM IST
How to claim LTC Cash Voucher exemption in your income tax returnAs per the government, individuals having LTC/LTA in their salary package would have been unable to travel and claim income tax exemption o...
10 Sep, 2021, 09.23 AM IST