One must note that prior to issuing a refund, the Income Tax Department must ensure that certain criteria are met. One of the ...

Taxpayers have to file income tax returns (ITR filing) once a year. For this, a deadline is fixed by the Income Tax ...

Income tax updates for 2024 include revised slabs, enhanced deductions, higher corporate NPS limits, updated capital gains tax rates and revised holding periods. Key changes to impact ITR filing in ...

Two influential conservative groups are urging Iowa lawmakers to cut state and local taxes. Iowans for Tax Relief president ...

5. Failure to submit investment proofs: To understand the chronology, one must first declare the investments to the employer ...

Salaried individuals are also required to pay advance tax if their estimated liability after accounting for TDS (Tax Deducted ...

Non-compliance can lead to penalties of up to ₹10 lakh if foreign assets exceed ₹20 lakh (excluding immovable property).

Advance tax is a system where taxpayers pay their income tax liability in installments throughout the financial year, instead ...

Advance tax is also called as 'pay as you earn' tax which provisions to deposit advance tax in installments rather than at ...

A belated return is filed under Section 139(4) of the Income Tax Act if the original deadline is missed. Taxpayers filing ...

A belated return refers to the income tax return that is filed after the deadline, that is July 31 of a given assessment year ...

ITR’s most interesting stories of the year covered ‘landmark’ legal battles, pillar two, AI’s relationship with transfer ...