New income tax rules for 2026-27 propose redesigned ITR forms with more pre-filled details, aiming for simplification. Eligibility criteria for simplified forms like ITR-1 and ITR-4 have been adjusted ...
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Income Tax Return 2025: Situations Where You Must File ITR Even if Your Income is Below Exemption Limit
Filing an Income Tax Return (ITR) is usually mandatory when an individual’s annual income crosses the basic exemption threshold. Under the old tax regime, people below 60 years of age enjoy exemption ...
The legal heirs are responsible for filing the return of income from 1st April till the date of death of the deceased and ...
Section 139(8A) now permits filing of ITR-U within 48 months from the end of the assessment year. However, it cannot be used to reduce tax liability, claim refunds, or bypass departmental ...
If you are still waiting for your income tax return (ITR) to be processed or for your refund to arrive, you are not alone.
Budget 2026 retains existing income tax slabs but revises TCS, STT, and compliance timelines. The key takeaway is simplified ...
Indians working abroad can claim Foreign Tax Credit (FTC) by filing Form 67. Draft rules propose renumbering it to Form 44, requiring CA certificates for companies and individuals with foreign tax ...
The Income Tax Department is sending bulk “NUDGE” notices to high-income taxpayers, urging them to review and correct discrepancies in their ITRs. The advisory campaign uses analytics to promote ...
A Dubai-based NRI who bought a ₹2 crore flat in Mumbai without filing an ITR in India received a tax notice treating the ...
Non-resident Indians (NRIs) returning to India must carefully evaluate their residential status, as prolonged presence in the country may trigger taxation of worldwide income. Pla ...
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