I-T rules require all taxpayers who hold foreign assets to declare them under Schedule FA. These include stock options, foreign…
The deadline for filing income tax approaches each day, underscoring the importance for senior and super-senior citizens to grasp the…
The Indian Income Tax Department provides various income tax return (ITR) forms tailored to different taxpayer scenarios. Selecting the appropriate…
Filing Income Tax Returns (ITR) is a crucial responsibility for taxpayers in India. Ensuring accurate and timely submissions can prevent…
Doing it early will give you time to collect all the information and file the ITR correctly. First, you should…
Certain allowances are exempt from income tax up to certain thresholds. This essentially lowers your taxable income, which in turn…
Form 16 holds significant importance for employed individuals in India during the income tax filing process. It includes comprehensive information…
The deadline for filing ITRs for the financial year 2023-24 (Assessment year 2024-25) is July 31, 2024. With just over…
Filing your income tax return and discharging appropriate tax liability are two different responsibilities that must be discharged appropriately. This…
Tax deducted under Sections 192 to 195 of theIncome Tax Act, typically by employers, necessitates issuance of a certificate (most…
Schedule AL was introduced in 2016 after the wealth tax was discontinued. “The government wanted a monitoring system to check…
July 31, 2024, is the deadline for submitting Income Tax Returns (ITRs) for the Assessment Year (AY) 2024–2025. Before submitting…
Pre-filled ITRs: The Income Tax Department automatically populates tax return forms with information obtained from employers, banks, and investment entities.…
Availing of necessary deductions and exemptionsTaxpayers should use all available deductions and exemptions to reduce their tax liability. Examining the…
If you are a salaried income tax payer, the process to file income tax return is quite simple, to say…
Correcting any mistakes or omissions in your initial Income Tax Return (ITR) is the aim of filing a revised ITR.…
As the deadline of July 31 to file income tax return (ITR) for FY 24 draws closer, taxpayers are expected…
A senior or super senior who earns more than the exemption amount is still required to pay taxes even though…
With the deadline of July 31 to file income tax return (ITR) approaching fast, taxpayers are expected to be scurrying…