Tax Audit Reports

What is Form 26AS? Why should a taxpayer know details about this form while filing an income tax return?

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What is Form 26AS? Why should a taxpayer know details about this form while filing an income tax return?

Form 26AS is the annual tax statement that provides taxpayers access to the tax deduction/tax collection details and income. It contains comprehensive information related to salary income, business and professional receipts, interest income earned on bank deposits, etc along with the respective tax deduction/collection details. These details are generated based on returns of tax deductions/collected … Read more

Income Tax returns FY24: CBDT says functionalities to file return enabled, 23,000 ITRs filed since Apr 1

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Income Tax returns FY24: CBDT says functionalities to file return enabled, 23,000 ITRs filed since Apr 1

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