Received an income tax notice after a company demerger? Learn how a Mumbai trader’s RIL-Jio Financial share split triggered tax…
Income tax refund is broadly calculated as the excess of taxes paid or credited over the final tax liability of…
Filing the ITR may be the first milestone, but ensuring that the return is valid, accurately processed, and appropriately supported…
Active traders and F&O participants should verify whether their income is being reported under the correct head and whether their…
Taxpayers receiving a partial refund generally indicate that the Income-tax Department (ITD) has recomputed the taxpayer’s return during processing after…
Financial planning should not stop at income-tax planning. Individuals should evaluate major spending, investment, and wealth creation decisions through a…
From a financial planning perspective, this delay may also result in a loss of potential returns that the refunded amount…
Filing your ITR? Here’s a complete guide to paying self-assessment tax at a bank branch, including Challan ITNS 280, authorised…
The Income Tax Department has identified up to 20,000 swapped provisions cases. Learn what they are, how to correct your…
Once an intimation under Section 143(1) has been issued, the taxpayer must check whether the intimation is only a processing…
Depending upon the facts, authorities may initiate proceedings under the Income-tax Act as well as the Black Money Act, which…
While the underlying refund mechanism does not change, taxpayers filing belated returns should expect certain practical differences.
Taxpayers should maintain documentation that clearly establishes both the source of the income and the legal basis for claiming exemption.
If one incorrectly assumes that filing is not required, then one would be liable to face interest for delay in…
Think your tax worries end once your employer deducts TDS? Not always. Even salaried taxpayers whose only source of income…
If you traded in Futures & Options (F&O) during FY26, pay attention before filing your ITR. The revised ITR-3 form…
Incorrect quarterly allocation of capital gains may attract penalties
Hence, here are the 10 entries that taxpayers must cross-check in their pre-filed ITR forms to avoid mismatches and potential…