The new tax regime (NTR) lets you compute your income tax at a lower rate slab, but it renders you ineligible to claim most ...

5. Failure to submit investment proofs: To understand the chronology, one must first declare the investments to the employer ...

The Honourable Bombay High Court said recently, "​By way of interim relief, the... Central Board of Direct Taxes is hereby ...

ITR’s most interesting stories of the year covered ‘landmark’ legal battles, pillar two, AI’s relationship with transfer ...

A belated return refers to the income tax return that is filed after the deadline, that is July 31 of a given assessment year ...

Foreign income and assets have various components, such as Foreign Bank Accounts, Foreign Equity and Debt interest, financial ...

The Bombay High Court has given a big order regarding ITR filing. Recently, the Bombay High Court has taken a big decision in ...

Non-compliance can lead to penalties of up to ₹10 lakh if foreign assets exceed ₹20 lakh (excluding immovable property).

The court observed that recent changes to the Income Tax Department’s utility software prevented eligible taxpayers from ...

Income Tax Planning for Salaried Employees is an important practice of managing financial health and developing the potential ...

The year 2024 saw the Central Board of Direct Taxes (CBDT) prioritising the speedy processing of returns and refunds, with ...

The Bombay high court directed the Central Board of Direct Taxes (CBDT) to extend the date for e-filing of belated income tax returns for taxpayers required to file by 31, 2024. Belated return, a last ...