Taxpayer awareness

ITR AY2024-25: CBDT launches campaign for taxpayers to report income from foreign sources

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ITR AY2024-25: CBDT launches campaign for taxpayers to report income from foreign sources

Black Money and Income tax return: The CBDT has launched a Compliance-Cum-Awareness Campaign for Assessment Year 2024-25 to support taxpayers in accurately completing Schedule Foreign Assets (Schedule FA) and reporting income from foreign sources (Schedule FSI) in their Income Tax Returns (ITR). Compliance with Schedule FA and FSI is compulsory under the Black Money (Undisclosed … Read more

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