Income Tax : Discover who must file an ITR even with income below the exemption limit. Understand key scenarios and benefits to stay compliant ...
Income Tax : Discover hassle-free tips for filing your Income Tax Return (ITR) before the July 31, 2024 deadline. Learn about necessary documen...
Income Tax : Discover the benefits of filing Income Tax Returns (ITR), including compliance with tax laws, improving credit score, visa applica...
Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...
Income Tax : Stay updated with key changes and precautions in filing your Income Tax Return for FY 2023-24 to avoid penalties and ensure accura...
Corporate Law : A record 7.28 crore ITRs filed for AY 2024-25, with 5.27 crore in the New Tax Regime. Over 69.92 lakh ITRs were filed on 31st July...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
Income Tax : Learn about the rise in tax returns filed in India, targeted campaigns encouraging filings, and steps taken by the government for ...
Income Tax : Discover comprehensive FAQs on filing ITR-4 (Sugam) for AY 2024-25. Learn eligibility criteria, tax regime options, documents need...
Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Rajasthan High Court dismisses IT Department's appeal, upholding Jaipur Development Authority's exemption under Section 11 of the ...
Income Tax : ITAT Bangalore rules that issuing a notice under Section 143(2) of the Income Tax Act is mandatory for valid assessment after reop...
Income Tax : Detailed analysis of ITAT's decision to delete the Section 69C addition for capital introduced by a partner in the Shivam Develope...
Income Tax : Assessee can't be obstructed from availing of the benefits of the Direct Tax Vivad se Vishwas Act, 2020 (DTVSV Act) even where the...
Income Tax : Navigate complexities of personal income tax in India for FY 2023-2024. Learn about filing returns, responding to notices, and opt...
Income Tax : CBDT notifies ITR-7 [For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 13...
Income Tax : Stay updated on Income Tax rules with CBTD Notification No. 19/2024. Explore amendments effective from April 1, 2024, impacting ru...
Income Tax : CBDT notifies ITR-6 form for AY 2024-25. Companies who don't have income from property held for charitable or religious purposes c...
Income Tax : CBDT notifies ITR 1 and ITR 4 for Assessment Year (AY) 2024-25 / Financial Year (FY) 2023-24 vide Notification No. 105/2023-Incom...
Income Tax : Explore the key amendments in Income Tax Rules, 1962, effective from April 2023. Detailed analysis of ITR-7 Forms modifications an...
This article shall provide an insight into changes in Income tax forms, additional disclosures required by income tax department and main considerations while filing Income tax returns. It is advisable for us to begin the groundwork and avoid the late hour rushes because new ITR forms require additional details and disclosures.
Discover the 12 key highlights of changes in ITR forms for FY 2019-20. Stay updated with the new additional columns and schedules for accurate filings.
All Assessees are now required to file their Returns online except Super Senior Citizens are given option to submit Return in paper mode provided the Computation does not have any income chargeable under head of Profits and Gains from Business or Profession. Changes in the ITR Requirements The New ITR Forms have been notified vide […]
Changes in the notified ITR-7 for AY 2020-21 1. Corpus donation not to be considered as an application of Income –Schedule ER-Part B : ITR-AY 2019-20 had the details of Donation made towards the Corpus fund of Donee Society/Trust. However, in ITR-AY 2020-21, only Donation-Other than Corpus in Part B of Schedule ER 2. Disallowable […]
Learn all about ITR filing for AY 2020-21. Find out which forms are currently available and the eligibility criteria for ITR-1 (Sahaj).
Eligibility to file ITR 4 for A.Y. 2020-21: Individuals, HUFs and Firms (other than LLP) being a resident having: 1. Total Income upto Rs 50 Lakhs 2. PGBP income computed under sections 44AD, 44ADA or 44AE 3. Income from Salary / Pension 4. Income from ONE House Property 5. Income from Other Sources 6. Agricultural […]
Find out if you need to file an Income Tax Return for F.Y. 2019-20. Learn about the scenarios where individuals are required to file their ROI.
ITR-1 & ITR 4 forms for A.Y. 2020-21 released for e-filing by Income Tax Department. Who are eligible to file ITR-4? -An Individual, HUF or Firm (other than LLP) who is ordinarily resident in India -Income from salary/pension (for ordinarily resident person). -Income from one house property but excluding brought forward losses and losses to […]
Key Changes in Filing of ITR forms Considering the COVID-19 pandemic, various relaxations have been provided under the statutory compliances and one of them is with respect to Filing of Income Tax Returns (ITR). During the current year, while filing the ITR one has to keep in mind various relaxations provided by the government as […]
In the income tax there are five heads to calculate and report income to department. One of those heads is Income from house property. Owning a house is everyone’s dream but with this dream there comes a responsibility to calculate tax on it. Let’s discuss about it. Question:1 What falls under the House property? Answer: […]
