FD rate up to 8.25% for senior citizens investing for three years; Know the full list of banksSeveral banks are offering high fixed deposit rates for senior citizens. If a senior citizen’s total income is Rs 12 lakh under the new tax...
13 Sep, 2025, 07.45 AM IST
ITR deadline: Do I need to file ITR if my salary income is less than Rs 3 lakh? Know when you need to file ITRWith the ITR filing deadline of September 15, 2025, fast approaching, the Income Tax Department is sending reminders. Filing is mandatory i...
08 Sep, 2025, 03.10 PM IST
CAs point to glitch in ITR software resulting in taxpayers getting a little less tax refund; what it means for youA system error in the Income Tax Return software is causing taxpayers to receive slightly lower refunds. Chartered Accountants have identif...
19 Aug, 2025, 02.47 PM IST
16 transactions which tax dept gets to know via SFT returns; Report them now to avoid possible jail term for misreporting incomeBanks and financial institutions file the Specified Financial Statement (SFT) with the income tax department, detailing taxpayers' financia...
18 Aug, 2025, 11.07 AM IST
How minors can apply for a PAN card; is the process different if you are an NRI minor? Here’s a step-by-step guideThe Income Tax Department emphasizes the importance of PAN. Minors, including NRIs, can obtain a PAN card through their parents or guardian...
10 May, 2025, 04.05 PM IST
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...
15 Apr, 2025, 12.04 PM IST
Despite no investment you can still get Section 80C income tax deduction if you invested in NSCSave income tax: National Savings Certificate is a fixed-income investment scheme that's backed by the Government of India. But did you kno...
27 Mar, 2025, 12.17 PM IST
Income Tax: Can you claim HRA tax exemption for society maintenance charges also?Usually, an employee's salary structure has HRA as one of its components. A salaried employee can claim tax exemption on HRA if he/she live...
26 Mar, 2025, 12.12 PM IST
Deadline for reassessment of these old ITRs approaching; Know who can get tax notice u/s 148 by August 31, 2024Income tax notice: The income tax department may send you a tax notice for AY 2018-19 (FY 2017-18) by August 31, 2024 if there is exists an...
14 Aug, 2024, 02.50 PM IST
While filing ITR, don’t forget to claim these four deductions to reduce your total tax outgoITR filing: Reduce tax while filing income tax return (ITR) by claiming these deductions. However if you forget to claim the deductions in ...
21 Jul, 2024, 08.52 PM IST
TDS deducted in wrong FY? New income tax form to help you get it corrected Oct 1 onwardsThe Central Board of Direct Taxes (CBDT) has notified a new Income tax form- Form 71. This form will help taxpayers resolve their problem o...
09 Jan, 2024, 02.09 PM IST
What is the last date to file ITR-U?An updated income tax return (ITR-U) can be filed within 24 months from the end of the relevant assessment year, provided the deadline for ...
22 Sep, 2023, 10.39 AM IST
Six income tax notices a salaried individual can getAn income tax notice is an official communication from the income tax department. It is not a cause of worry if an individual reads the not...
17 Aug, 2023, 10.18 AM IST
Section 87A income tax rebate is not available on these incomesSection 87A of the Income Tax Act, 1961 allows an income tax rebate of Rs 12,500 (for both old and new tax regime) for FY 2022-23 (AY 2023-...
27 Jul, 2023, 05.06 PM IST
Income Tax department sends notices over donations to charitable trustsThe I-T Dept has issued notices to around 8,000 taxpayers on account of them making large donations to charitable trusts, which are believe...
18 Apr, 2023, 05.37 PM IST
CBDT lays out five parameters for compulsory selection of returns under faceless assessmentThe selection process has to be completed by the month end, field offices have been instructed in letter issued on Thursday. The Board has ...
18 Sep, 2020, 09.43 AM IST
I-T dept revises format of TDS certificate issued by employersAmong other things, the revised Form 16 will also include details of deductions in respect of interest on deposits in savings account, and ...
16 Apr, 2019, 07.40 PM IST