The Income Tax Department has launched a new Excel-based utility version of ITR-2 to make filing easier. This form is ...

One option taxpayers have is challenging demand notice before tax appellate authorities, using the Bombay High Court's ruling ...

Interest on Non-Deduction/Deducted but Not Paid: Interest at 1% per month (or part thereof) on the amount of tax not deducted, and at 1.5% per month (or part thereof) on the amount of tax deducted but ...

The income tax department will check and match your current income tax return filed with the previous year's ITR from next ...

Taxpayers are required to choose an ITR form and file their returns based on their total income, nature of income, and the ...

Income Tax Department issues notices to taxpayers not deducting TDS on rent over ₹50,000, leading to penalties.

ITR-2 is meant for individuals whose annual income is above Rs 50 lakh or who earn from sources like rent, capital gains, or ...

HRA is a component of salary provided by employers to employees to help cover rental expenses. Employees can claim HRA exemption under Section 10 (13A) of the Income Tax Act if they pay rent for ...

If you have filed your income tax return (ITR File), but all the information in it has not been filled correctly, then you ...

FY 2025-26. As the new financial year begins, many new income tax laws take effect. It is important to take note of these new ...

Income tax filers claiming House Rent Allowance (HRA) exemptions must ensure compliance with Tax Deducted at Source (TDS) obligations on rent payments. Non-compliance leads to penalties and interest.

The bank stated that a demand notice under Section 156 of the Income Tax Act, including Rs 243.02 crore in interest, was ...