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Section 87A tax rebate allowed on both long and short term capital gain income from equity for AY 2024-25 by ITAT Indore; Know whyThe ITAT Indore has allowed Section 87A tax rebates on both long-term and short-term capital gains from equity for AY 2024-25. This ruling ...- New feature on ITR e-filing portal: Rectification request for these tax orders can be filed online; Here’s how it helps youThe Income Tax Department has introduced a new online feature on its e-filing portal, allowing taxpayers to directly file rectification req...
- Income tax refund stuck? These 7 common errors could be the reason and how you can fix themTax refund delays can often stem from mistakes made by taxpayers. Make sure to double-check your Income Tax Return (ITR) within a month. If...
- Taxpayer wins case in ITAT Mumbai: Rs 1 crore tax demand quashed after TDS mismatch in Form 26ASA Mumbai taxpayer successfully challenged a Rs 1 crore tax demand at ITAT Mumbai after Form 26AS failed to reflect TDS credit. Despite payi...
- 87A and STCG: Will recent ITAT ruling on Section 87A allow taxpayer to claim 87A rebate on Short term capital gains while filing ITR?A recent ITAT Ahmedabad ruling has sparked hope for taxpayers seeking Section 87A tax rebates on short-term capital gains (STCG) for FY 202...
- Section 87A tax rebate can be claimed for short term capital gains income under new tax regime, rules ITAT AhmedabadIn a significant win for taxpayers, the ITAT Ahmedabad has ruled that Section 87A tax rebate is applicable on short-term capital gains (STC...
- Don’t be surprised if you get lesser income tax refund this year, the income tax dept is adjusting past dues against this year’s refundIncome Tax Notice: "Since there are pending assessment / re-assessment proceeding in the case of taxpayer, the refund release/withhold will...
- Online rectification request to fix wrong tax demand notice, intimation is now enabled for up to AY 2023-24Income Tax: Sometimes the tax department makes errors in sending intimations, notices, others and this results in problems for the taxpayer...
- Didn’t file ITR in past? You may get tax notices from I-T department u/s 148A as it has identified high risk non-ITR filersTax notice: The Income Tax Department has identified the list of persons relating to AY 2019-20, 2020- 21 and 2021-22 who did not file Inco...
- Payback the Section 87A rebate amount claimed against capital gains, says the tax demand notice; What are your options?Tax demand notice: Since February 24, 2025 many taxpayers have received a tax demand notice in their Income Tax Return (ITR) intimation ord...
- New feature added in ITR portal: Now you can file rectification request online for incorrect ITR processing even if it’s with the AOIncome tax return: Taxpayers can now file an online application for rectification of their ITR if it was incorrectly processed. However the...
- Income tax grievance redressal overhaul: Faster response, demarcated list of officers for tax refund, TDS, PAN, waiver, other issuesIncome tax:The income tax department has overhauled the grievance redressal system to make it faster. Experts say now taxpayers can expect ...
- 13 ways the FM can simplify matters for income tax payers in interim Budget 2024: CIIThe Interim Budget 2024, will be presented by the finance minister, Nirmala Sitharaman, on February 1, 2024. A few key steps as suggested b...
- Budget 2024 should allow past year's TDS credit to be claimed online, current method difficult: IndustryVarious experts have varied views about Form-71 which is used by individual taxpayers to claim TDS credit if it was not deducted in the yea...
- What is a defective income tax return (ITR), how to correct itA taxpayer will get a notice pertaining to his/her return being classified as defective due to many possible reasons like PAN name mismatch...
- Income tax department's helpline available 24 hours till July 31Taxpayers who have concerns that are not being resolved can file a complaint on the income tax portal.Here's how to make a complaint regard...
- Address taxpayers' grievances in time-bound manner: CBDT to I-T DeptIn order to aggressively mitigate grievances of taxpayers, CBDT has asked the taxman to address rectification applications filed by affecte...
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