A Hyderabad woman who sold her apartment for Rs 1.42 crore after buying it for Rs 80 lakh expected indexation…
A Bengaluru crypto trader who earned just Rs 4,150 in profit received a tax notice over transactions worth Rs 47.4…
A Bengaluru-based business consultant received an Income Tax Department intimation despite correctly filing his ITR and legally switching from the…
India’s tax system has quietly undergone a major shift. With the effective tax-free income limit at Rs 12 lakh under…
Received a tax notice despite accurate filing? Discover how over-detailing your ITR P&L can trigger a defective return notice.
Got a tax demand even though your Form 16 matched your ITR? A real case shows how missing a mandatory…
The rationale behind the introduction of the new tax regime was to make tax filing simpler for individuals who make…
The availability of more than one tax regime has, however, created a challenge for individuals, i.e., selection of more beneficial…
With the coming of the new tax regime, individuals have to not only declare the investment but also have to…
Although there are no major changes introduced this year, a few additional information is being sought from taxpayers in the…
Generally, a 10% TDS is deducted on interest income above Rs 50,000 which a senior citizen earns in a year,…
The timeline to file Form ITR-U is within 24 months from the end of the relevant assessment year.
The new ITR forms, however, have introduced a change whereby the term accounting period has been replaced with a calendar…
The Income-Tax Act allows relief under Section 89(1) to reduce the impact of additional tax liability arising from the receipt…
Let’s understand how you can plan your finances when you are nearing retirement and have increasing health issues.
In some cases, the taxpayer can claim tax exemptions even if he has not made any investments. Here are five…
Investors prefer ELSS as it is one of the few options under Section 80C of the Income Tax Act, which…
Have received any unexpected gift during the year for which you missed tax planning? You can make investments specified in…
