"The Writer is a Columnist and Finance Professional. He has keen interests in International Affairs, Politics, Economy and Law. "
Learn why taxpayers must deposit unutilized capital gains into a Capital Gains Account Scheme (CGAS) before the ITR due date to preserve exemption benefits and comply with statutory requirements.
The Income Tax Department is using AI, data analytics, AIS, and PAN-based verification to identify incorrect HRA exemption claims. The article explains common reasons for scrutiny, new compliance requirements, and ways to avoid rejection.
Know the income tax appeal process, hierarchy, filing procedures, timelines, powers of appellate authorities, and departmental appeal limits.
Failure to file ITRs can result in interest, late fees, loss of refunds, and missed tax benefits. Beyond taxation, it may also affect financial credibility and access to credit.
Learn about the most common Income Tax Return filing errors that can attract scrutiny from the tax department. From AIS mismatches to incorrect deductions, discover how to avoid expensive mistakes.
Stay updated on the draft common ITR Form issued by CBDT. Learn about the new form that will replace multiple ITR forms for filing Income Tax Returns.
