ITR filing: As the deadline to file Income Tax returns (ITR) approaches, those who are still waiting to collect details about how to file their returns should note that missing the deadline can have serious consequences. The deadline for submitting income tax returns for the financial year 2023-2024 (Assessment Year 2024-2025) is July 31, 2024. This … Read more
ITR filing 2024: As the deadline for income tax filing approaches, it is crucial for taxpayers categorised as senior and super senior citizens to understand the specific provisions tailored for them. For the financial year 2023-24, tax-saving investments made by March 31, 2024, will be considered for income tax returns. Many seniors mistakenly believe they need … Read more
Income Tax for senior citizens: As the deadline for income tax filing nears, it is imperative for senior and super senior citizens to comprehend the distinct provisions. The Income Tax Department has designated exemptions, deductions, and advantages designed for senior citizens and super senior citizens in accordance with the Income Tax Act, 1961. The income … Read more
ITR Filing AY 2024-25: The Income Tax Department issues different tax return forms for different section of taxpayers. Income Tax Return (ITR) is a crucial document where taxpayers provide details regarding their income and applicable taxes to the income tax department. As of now, the I-T department has introduced a total of 7 forms, namely … Read more
Income Tax filing 2024: The Income Tax Department has released offline, online, and Excel utilities for ITR-3 for taxpayers for FY 2023-24 (AY 2024-25). To file the returns this year, individuals who need to file ITR-3 can now use one of utilities — offline (Java), online or Excel-based. The three utilities are now available for … Read more
To beat the last minute rush, at least some taxpayers have started filing their income tax returns for assessment year 2024-25 after the Central Board of Direct Taxes (CBDT) enabled functionalities for commonly used income tax returns from April 1 this year. According to data with the income tax department, as many as 119,000 income … Read more
All salaried individuals need to wait at least more than two months to file income tax returns (ITR) for the financial year 2023-24. As per the usual schedule, employers issue Form 16 around mid-June, i.e before June 15. For FY 2023-24 (assessment year 2024-25), Form 16 should be issued by June 15, 2024. Form 16 … Read more
The Central Board of Direct Taxes (CBDT) on Thursday said it has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25, i.e. FY2023-24) from April 1, 2024. The ITRs, i.e. ITR-1, ITR-2 and ITR-4, which are the most commonly used by taxpayers, are now available on the e-filing portal. Taxpayers … Read more
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 April 1, 2024. Taxpayers eligible to file their tax returns can now login and fill their ITRs for FY 2023-24 using these … Read more