Union Budget 2025 has proposed to extend updated return filing period to 48 months; understand the rules, benefits, and ...

Income Tax Return (ITR) filing deadline is approaching fast and taxpayers are busy arranging various necessary documents, ...

The income tax return forms, ITR-1, ITR-2 and ITR-4, for FY 2023-24 (AY 2024-25) are now available for e-filing on the Income Tax department portal. The online ITR forms were made available from ...

Salaried individuals with an annual income of up to Rs 12.75 lakh will have zero tax liability under the new tax regime. But ...

To benefit from this change, individuals only need to file their Income Tax Return (ITR) — no additional steps are necessary. Previously, someone earning Rs 12 lakh per year would typically pay ...

If you somehow failed to file your income tax return (ITR) for any of the past two years, you can still file an updated income tax return. These two years are 2021-22 (AY 2022-23) and 2022-23 (AY ...

If taxpayers file their return late, they will be charged interest under section 234A. ITR Filing 2023 Latest Update: Attention taxpayers. The last date to file belated income tax returns is ...

ITR Filing Deadline, January 15, 2025: Failure can lead to a loss of opportunity to file or revise your return for AY 2024-25 and additional penalties. ITR Filing Deadline, January 15, 2025 ...

Legal notices: The Tax Department collects income statements from various sources. Failure to file ITR may trigger reports based on undeclared income. Carry forward losses: Filing before the ...

The last date to file tax return for AY 2024-25 ended on July 31, 2024 and the deadline for belated and revised ITR filing was December 31, 2024. “The Central Board of Direct Taxes (‘the CBDT ...

One might have incurred some losses while selling assets, securities or properties in India. Such losses can be carried forward to future years which will help in reducing future tax liabilities. To ...