income tax act

Do NRIs have less advantage than residents on indexation benefits

Is it true that non-resident Indians (NRIs) can no longer avail of the indexation benefit, while residents still can?—Name withheld…

2 months ago

Are all gifts taxable in India? Discover the rules that apply

Receiving a gift, whether it’s cash, property, or a sentimental item, is always a delight. However, not all gifts come…

2 months ago

Own foreign stocks or MNC Esops? Omit them from ITR at your peril

I-T rules require all taxpayers who hold foreign assets to declare them under Schedule FA. These include stock options, foreign…

5 months ago

ITR filing 2024: Which ITR form is recommended for senior citizens, super senior citizens for tax returns

The deadline for filing income tax approaches each day, underscoring the importance for senior and super-senior citizens to grasp the…

5 months ago

Income Tax Filing 2024: What to do if Form 16 data mismatches ITR prefilled form?

Tax deducted under Sections 192 to 195 of theIncome Tax Act, typically by employers, necessitates issuance of a certificate (most…

5 months ago

Income Tax Return: What are the alternatives to Form 16 that can be used while filing ITR?

July 31, 2024, is the deadline for submitting Income Tax Returns (ITRs) for the Assessment Year (AY) 2024–2025. Before submitting…

5 months ago

Income Tax Return: How to maximise your tax refunds while filing ITR?

Availing of necessary deductions and exemptionsTaxpayers should use all available deductions and exemptions to reduce their tax liability. Examining the…

5 months ago

Submitted wrong ITR form? Know how many times you can revise return

Correcting any mistakes or omissions in your initial Income Tax Return (ITR) is the aim of filing a revised ITR.…

6 months ago

Top 10 small savings schemes retail investors should explore investing into

As a retail investor, when you zero in on an investment option, you are likely to have a key goal…

6 months ago