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

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

Income tax return: The Central Board of Direct Taxes ... ITR-1 (Sahaj) continues to be the applicable ITR form for resident India with annual income of upto Rs 50 lakh — including from salary ...

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

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 ...

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 ...

Before you even think about filing your tax return, make sure your Aadhaar is linked to your PAN. Also, choosing the correct ITR form is important. Filing the wrong one may lead to rejection of your ...

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

The Delhi High Court, after reviewing the reasons recorded by the AO for reopening the assessment, observed that there was a clear absence of tangible material pertaining directly to GE Renewables ...

It's that time of year again, with the extended deadline to file last year’s personal income tax returns looming tomorrow on May 15 (for individuals with employment income only) and June 30 (for ...

Taxpayers can now file their returns on the Income ... in various parts of India as well as people earning below specified thresholds. According to the Income Tax Department website, every person ...

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 ...