income tax return

How can an NRI carry forward capital losses?

I am a non-resident Indian (NRI) residing in Abu Dhabi for many years. I sold my residential property in India…

3 weeks ago

Can I revise my income tax return to claim certain DTAA benefits?

I filed my income tax return (ITR) as a non-resident Indian (NRI) and it has been processed. If I want…

2 months ago

Minors with mansions: Now, wealthy Indian ‘kids’ own foreign properties

MUMBAI: Indians have been consistently among the top buyers of marquee properties overseas whether it’s in sunny California, tony parts…

2 months ago

Income tax: Scores of taxpayers get I-T notices under section 148; can be challenged, says ICAI ex-chief Ved Jain

Some income taxpayers have reportedly received notices under section 148, which is related to the reopening of assessments for the…

2 months ago

Income Tax: Is your refund being held up over defective I-T return? This is what you should do

The deadline to file an income tax return (ITR) passed on July 31, 2024, following which eligible taxpayers received either…

3 months ago

ITR filing: How can taxpayers check their income tax refund status online? A step-by-step guide

Now that you have filed your income tax returns, you must be wondering when you will receive your income tax…

3 months ago

ITR filing: When will you get income tax refund? Key questions answered

The last date to file an income tax return (ITR) ended on July 31, 2024, and taxpayers are now awaiting…

4 months ago

Income Tax: As the ITR filing deadline for FY24 ends tonight, be aware of these key points

Since the deadline to file income tax return (ITR) did not get any extension beyond July 31, the last date…

4 months ago

ITR Filing: Want to switch back to the old tax regime? Here’s how to do it

There is some leeway in selecting a tax regime thanks to the Income Tax Department. Lower tax rates and a…

4 months ago

Confused whether capital gains tax on your asset sale will be short term or long term? Here is a complete guide

If you have recently sold an asset and are unsure whether the sale will be computed as per the short-term…

4 months ago

Income Tax Return: Can Budget 2024 tweaks impact your ITR filing? All you need to know ahead of July 31 deadline

With the revision of tax rates in the new tax regime (NTR) announced in Budget 2024, some taxpayers are in…

4 months ago

ITR filing: Still want to switch to old income tax regime? Here is what you can do

In Budget 2024, the central government has sweetened the new tax regime with more slab relaxations and an increase in…

4 months ago

ITR filing: Here is a lowdown on new income tax regime— check exemptions and deductions

Although a range of tax-related changes are introduced every year for taxpayers, a few key changes are ‘radical’ and occur…

4 months ago

ITR Filing 2024: What is the penalty amount for filing income tax returns after the due date?

Submitting the Income Tax Return (ITR) is essential as it outlines a taxpayer’s earnings over the fiscal year, and doing…

4 months ago

ITR Filing 2024: How can you verify your income tax return? A step-by-step guide

Verifying your Income Tax Return (ITR) after filing is crucial, and fortunately, the Income Tax Department offers several convenient methods…

4 months ago

New Tax Regime 2024: From implications to benefits; all you need to know

The introduction of the new tax regime in India marks a significant shift in the country's tax landscape, aimed at…

4 months ago

Income tax return (ITR) filing: Here is how to correct discrepancies in AIS, TIS, and 26AS

Individual taxpayers must file income tax returns (ITR) before 31 July 2024 to avoid penalties. This deadline marks the final…

4 months ago

Are you sharing too much? The risks of giving your ITR credentials to CAs

The dilemma of sharing credentialsHiring a chartered accountant (CA) to file your tax return often requires sharing your login credentials…

4 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

Income tax return filing 2024: How to choose the right ITR form

The Indian Income Tax Department provides various income tax return (ITR) forms tailored to different taxpayer scenarios. Selecting the appropriate…

5 months ago