Filing income tax returns for the first time can be daunting, particularly when dealing with capital gains. It is crucial to ...

India’s shift towards digital governance has transformed tax filing for millions. The advent of Digital Form 16 ensures ...

1. Foreign Tax Credit (FTC) is a mechanism to provide relief to the taxpayers to claim credit in India for the taxes paid in overseas country on the doubly taxed overseas sourced income (i.e., taxed ...

Using the wrong ITR form can delay your tax processing or, worse, your return may get rejected. Also, filing your ITR is not ...

The income tax department has not yet notified the income tax return forms. As the one month is about to pass, will the late ...

On April 29, the government introduced ITR Forms 1 and 4 for the assessment year 2025–26, aiming to simplify the tax filing ...

and Income Tax Returns (ITRs), to identify discrepancies and potential under-reporting.” “Key initiatives like the Annual Information Statement (AIS) and Statement of Financial Transactions ...

Capital loss on share buybacks will be allowed if corresponding dividend income is disclosed as “Income from Other Sources,” effective from October 1, 2024. The threshold for reporting assets ...

Taxpayers will soon be able to file their returns for FY25 via the official Income Tax Department website ... capital gains statements, rental income details, and any other proof of income ...