Gold inherited under a Will or otherwise is exempt from tax. However, when you sell such gold later, the capital…
Discover the simple ways to correct errors in your Income Tax Return (ITR). This article explains three key mechanisms: filing…
The Income Tax Department has released updated Excel utilities for ITR-1 and ITR-4 (AY 2025-26), introducing significant changes for taxpayers…
The 2025 Budget proposes amending Section 158B of the Income Tax Act to classify virtual digital assets as undisclosed income,…
The tax officer cannot recover the TDS amount from you, provided the tax was deducted from your income by your…
If you and your wife own the flat equally, the rental income will be split in the same proportion. If…
It minimises litigation as order is passed within six months
Form 26AS in June may not have had complete income details of Q4.
It is advisable to file a revised income tax return (ITR) to include this income and pay any additional tax…
Filing ITR 1 or 4 when you have capital gains will lead to a tax notice
Non-disclosure can lead to a penalty of Rs 10 lakh
Verify that the trust is registered with the income tax department
For those who have invested in stocks or mutual funds throughout the year, March is an important time to review…
While the department’s records show the demands as ‘unpaid’, taxpayers who received the notices are confident that no such is…
As we await the Finance Budget 2024, it is crucial for policymakers to deliberate on a recalibrated HRA framework that…
From delving into old stamp duty receipts to acquiring valuation reports, the steps to accurately determine the figures are quite…
It is the taxpayer’s duty to get data on the I-T portal rectified
Annual Information Statement is a powerful tax transparency tool.
