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VOLUNTARY TAX FILING
Do you need to file ITR if you only incurred losses from equities or mutual funds? Check the detailsIndividuals earning below basic exemption limits (Rs 2.5 lakh old, Rs 4 lakh new regime) generally don't need to file ITR. However, mandato...- Will Rs 32 lakh EPF corpus withdrawal be tax-free? Are there better options than withdrawing?ET Wealth Reader's Query: I contributed to EPF until 2021 while working at an MNC. Since moving to a startup in 2022 that doesn’t offer PF,...
- Green card rules change: An immigration lawyer answers all your key questionsA new USCIS policy memorandum, PM-602-0199, impacts Adjustment of Status applications. Immigration officers will now scrutinize application...
- RBI approves 3-month extension for Fino Payments Bank interim CEOFino Payments Bank announced that the Reserve Bank of India has approved a three-month extension for Ketan Merchant as interim CEO. This fo...
- Health services, medical education expansion to be driven by modern tech: Yogi AdityanathUttar Pradesh Chief Minister Yogi Adityanath reviewed health and medical education. He stressed improving treatment quality and expanding s...
- Claiming your inheritance by executing a Will: What legal heirs must know about nominees, probate and asset transfersExecuting a Will in India is often more complex than believed, involving numerous institutions and documentation hurdles. Nominees do not a...
- Spirit Airlines shutting down: why did Spirit Airlines fail and how to get your refunds right nowSpirit shutting down: Spirit Airlines is shutting down today. Spirit grounded all flights now. Two billion dollars in debt killed the carri...
- Direct vs indirect taxes: Key differences and how they impact taxpayers and prices in IndiaIf you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 9...
- IRS no tax on tips 2026: Can you really deduct up to $25,000, who qualifies, and how much tax can you save?IRS no tax on tips 2026 is trending fast. Up to $25,000 deduction is now possible. That is real money saved. This rule applies to tax years...
- ITR changes from April 2026: 5 key updates for Tax Year 2026–27 explainedStarting April 1, 2026, new Income Tax Act and Rules bring significant changes for Tax Year 2026-27. Key updates include extended ITR due d...
- Updated return vs black money law: Drafting gap may trigger 30% tax and 300% penalty under Finance Bill 2026Pay additional tax, file an updated return—and still face 30% tax and 300% penalty under the Black Money Act? Unless Finance Bill 2026 reso...
- New $25,000 tip tax deduction explained: who qualifies and how to claim itThe new $25,000 tip tax deduction applies from 2025 through 2028. File IRS Schedule 1-A to claim it. Only voluntary tips qualify. Income li...
- Nudge campaign: 1.5 m+ revised ITRs filed this yearMore than 1.5 million taxpayers have revised their income tax returns for the current assessment year. This voluntary compliance initiative...
- Updated ITR deadline approaching: Avoid 50% additional tax by filing before March 31, 2025Taxpayers are advised to file updated Income Tax Returns (ITR-U) promptly to avoid higher penalties. Filing by March 31, 2025, incurs a 25%...
- Deadline to file updated tax return extended in Budget 2025Finance Minister Nirmala Sitharaman proposed to extend the time limit for filing updated tax returns from 24 months to 48 months in the Uni...
- Over 8.22 cr taxpayers in FY20"Total number of taxpayers for AY 2020-21 is 8,22,83,407. The projected total population of the country as on March 1, 2021 .... was 136.30...
- Finance Minister P Chidambaram to address industry bodies on service tax amnesty schemeAiming to garner higher revenue from indirect taxes, FM P Chidambaram will address industry bodies at Chennai, Delhi and Mumbai on Voluntar...
- Finance Ministry implements amnesty scheme for service tax defaulters'Voluntary Compliance Encouragement Scheme', which came into force after passage of Finance Bill, can be availed by a service tax defaulter...
- NRIs missed to file Form 5471? Here's what you can doThe form is triggered if you are a US taxpayer with shareholding or interest in a foreign corporation exceeding certain prescribed limits.
- Voluntary compliance scheme to help widen tax base: Revenue secretarySumit Bose today said the recently announced voluntary compliance scheme for service tax defaulters will help the government widen the tax ...
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