According to a report, All these intimation notices were sent for the tax returns filed for the assessment year 2023-24, and all the notices were sent in the last 15 days.
From advance tax to depositing TDS and TCS, avoid these important deadlines at your own peril
Contrary to popular belief, the tax department allows taxpayers to revise their tax returns after receiving a tax notice
A common reason for not receiving refunds promptly is incorrect or incomplete information in the ITR form
Notice Mitra leverages a robust algorithm to scrutinise taxpayers’ data, providing insights into the potential causes behind a notice
Yeeshu Sehgal, Head of Tax Market at AKM Global, talks to BT about the taxability of non-unit-linked life insurance policies
In a significant move, the regulatory body has ordained that Section 10 (10) of the Income Tax Act will not apply to policies with a premium above Rs 5 lakh. The clause is effective from April 1, 2023.
You don’t need to run around to check ITR refund status anymore; just visit the official income tax website
Over 1,100 notices were sent for income earned in financial years 2019-20 and 2020-21
Per a report, a whopping 85 per cent of taxpayers chose to continue with the old regime
If a taxpayer has paid more taxes than their actual tax liability, they can claim the excess amount as a refund.
The Income Tax department has said that taxpayers should not click on such fake messages or open any attachments.
The deadline for verification has been reduced from 120 days to 30 days. If the ITR is not verified within this period, it will be assumed that the taxpayer has not filed the ITR
The total number of ITRs for AY 2023-24 filed till July 31, 2023 are 16.1% more than the total ITRs for AY 2022-23 (5.83 crore) filed till July 31, 2022, says I-T Dept
You can follow this step-by-step guide to file your ITR after the deadline
While some X users said having a CA to file the ITR saves a 'lot of time and effort', others said ITR filing has been automated a lot in the recent years, which made CAs' work a lot less tedious
ITR Filing: How to calculate the cost of acquiring cryptocurrency for income tax?
From late fee to issues with tax refunds, these are the consequences of filing returns after the deadline
Seeking professional advice can help you maximise benefits while minimising risks
So far, over 5 crore tax returns have been filed for income earned in the 2022-23 fiscal, as per government data.
In this edition of Ask Money Today, find out how can you claim HRA exemption on rented accommodation.
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