Tax season can feel like a maze, especially with the alphabet soup of ITR forms on offer. But filing your Income Tax Return (ITR) right and on time isn’t just a civic duty; it’s a shield against future legal trouble. As the 2024-25 financial year nears its end for individuals and non-audit cases, understanding which … Read more
As tax costs are eating into the earnings of every household, there is always a search to reduce the tax incidence within the four corners of the law. The Income-tax Act (‘the Act’) provides certain deductions from taxable income, the policies for which are based upon larger socio-economic parameters. With the new tax regime seeking … 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
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
The Central Board of Direct Taxes (CBDT) has notified two new income tax return forms, ITR-1 (SAHAJ) and ITR-4 (SUGAM), for the Assessment Year 2024-25 with the last filing date set for July 31, 2024, unless extended. Usually issued in February or March, this time the forms have been released early to help taxpayers stay … Read more