ITR filing

Income Tax Returns: How senior citizens can save capital gains tax during filing their ITR

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Income Tax Returns: How senior citizens can save capital gains tax during filing their ITR

Investments yielding returns over an extended period, specifically a minimum of one to three years, are categorised as long-term capital gains (LTCG). This classification encompasses returns from various investment vehicles such as real estate, stocks, mutual funds and zero-coupon government bonds. Senior citizens intending to liquidate assets such as real estate, stocks, mutual funds, bonds, … Read more

Income Tax returns: 5 crucial steps to follow as soon as salaried employees get their Form 16 this month

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Income Tax returns: 5 crucial steps to follow as soon as salaried employees get their Form 16 this month

Income Tax Return: This month, employers are scheduled to issue the Form 16 every year on or before June 15. Following this, salaried individuals can expedite the income tax return filing process. Form 16 is one of the several  Form 16 is a crucial document that plays an instrumental role in filing income-tax returns (ITR), especially … Read more

Income Tax Returns FY24: How to properly report P2P lending income while filing your ITR. Check details

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Income Tax Returns FY24: How to properly report P2P lending income while filing your ITR. Check details

ITR FY2024: P2P Lending or Peer-to-Peer Lending is one of the upcoming and somewhat most trusted ideas to earn passive income. P2P lending, also known as social lending, is an innovative financial model that has seen considerable growth in recent years. This approach provides individuals with an alternative means of securing funds without the need … Read more

ITR filing: I-T dept introduces 3 utilities for filing ITR form 3 for AY 2024-25. Check details.

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ITR filing: I-T dept introduces 3 utilities for filing ITR form 3 for AY 2024-25. Check details.

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

ITR Filing 2024: Do you need Form 26AS? Know how to download & why it is mandatory for you

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ITR Filing 2024: Do you need Form 26AS? Know how to download & why it is mandatory for you

ITR Filing 2024: The Income Tax return filing season has started. Along with the tax filing procedure, salaried individuals and taxpayers are also planning their taxes, and investments for this financial year. Basically, every taxpayer aims to look for ways to reduce their tax liability in a given financial year. Before filing income tax returns, … Read more

Income tax return filing for FY23-24: Check details of Form 16 issue date, ITR forms

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Income tax return filing for FY23-24: Check details of Form 16 issue date, ITR forms

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

ITR Filing: Over 8 crore income tax returns submitted for AY 2023-24, says IT department

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ITR Filing: Over 8 crore income tax returns submitted for AY 2023-24, says IT department

The Income Tax Department on Friday said over 8 crore income tax returns were filed for assessment year 2023-24 till date. In a post on X, I-T deparment said: “Unique landmark for the Income-tax Department! Over 8 crore ITRs filed for the AY 2023-24 till date,” the income tax department said in a post on … Read more

ITR filing: What are the consequences of missing December 31 income tax return filing deadline?

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ITR filing: What are the consequences of missing December 31 income tax return filing deadline?

Sometimes, individuals might be unaware of the deadline for various reasons, such as not receiving notifications, overlooking communications, or assuming incorrect deadlines.- Besides, it may happen that financial hardships or difficulties hinder someone from gathering the necessary funds to pay for professional tax assistance or to cover potential tax liabilities, leading to delays. However, missing … Read more