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ITR 2024
Income Tax AY 2026-27: Even if your salary income is below Rs 12.75 lakh, you still need to pay tax for these incomesIncome Tax AY 2026-27: Salaried individuals earning up to Rs 12.75 lakh annually may enjoy zero tax liability due to enhanced Section 87A r...- Husband trades through wife’s demat account, incurs Rs 1.95 crore loss; tax dept sends notice over clubbing of income, ITAT Lucknow grants him reliefA husband's attempt to offset substantial stock market losses against his income was initially rejected by tax authorities. Despite trading...
- 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 ...
- Booked flat for Rs 24 lakh in 2010, paid Rs 40 lakh over time, still no possession in 2026; homebuyers awarded full refund and Rs 2.5 lakh compensation eachThe case dates back to 2010 when the two homebuyers had made bookings for 3BHK flats in a housing society project initially proposed in Noi...
- 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 ...
- Income Tax Department issues ITR scrutiny guidelines: These ITR filers may face compulsory scrutiny in FY 26-27The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specif...
- New income tax regime: Don’t miss out on these 3 key deductions that will reduce your taxable income & help save more taxMany taxpayers mistakenly believe the New Tax Regime offers no deductions. However, salaried employees and pensioners can claim a Rs 75,000...
- 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. ...
- I-T Dept finds 'discrepancies' in declaration of assets by TMC MLA: SourcesThe Income Tax Department has uncovered discrepancies in assets declared by TMC MLA Debashis Kumar. Seizures from his residence during rece...
- Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled itAn Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal,...
- New ITR forms alert: Secondary address field added, what taxpayers must knowNew 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 ...
- Revised Income Tax Return due date extended to March 31, 2026? No; Here’s whyBudget 2026 extended the revised Income Tax Return (ITR) filing deadline to March 31, but this change is effective from Assessment Year 202...
- US income tax season: Key points to know before filing your returnThis year, the official IRS filing and payment deadline is April 15. Once you file your taxes, you can track your refund on the IRS website.
- 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...
- ITR filing deadline extension: Has the deadline to file ITR for audit cases been extended from November 15, 2024?November 15, 2024 ITR filing deadline: The CBDT has not extended the deadline to file income tax return (ITR) for taxpayers whose accounts ...
- The government is estimated to have earned up to Rs 627 crore from late ITR filing fee till August 22, 2024Belated ITR fees: The government may have earned up to Rs 627 crore from collection of late ITR filing fees till August 22, 2024. As per ru...
- These ITR filers have only 10 days left to verify their ITRs else ITR invalidITR refund: You won't get tax refund without verifying the filled up and submitted income tax return (ITR). As per CA Twinkle Jain, "If an ...
- New record of over 7.28 cr income-tax returns filed: Tax deptA record 7.28 crore income tax returns were submitted by July 31 for the assessment year 2024-25, exceeding last year’s total. Most filings...
- ITR filing FY 2023-24 FAQs: Name of taxpayer in ITR does not match with name in PAN database; here’s what you can doITR filing FY 2023-24: The Income Tax Department has recently published a set of commonly asked questions (FAQs) to assist taxpayers with t...
- CBDT enables ITR filing for FY 24; 23,000 returns filed in 4 daysITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers. ITR-2 is filed by p...
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