Income Tax Return filing

Income Tax Return Filing: Why Relying On Deadline Extension Can Be A Costly Mistake

ITR 2025-26: Tax professionals advise reviewing Annual Information Statement and Form 26AS in advance.

Rs 100 crore+ income club sees most entries in 4 years

Government data shows 576 individuals disclosed over Rs 100 crore income in FY2024-25. This number includes 161 new high-income earners added during the past year. Most of these super-rich taxpayers are non-salaried, reflecting past income trends. Direct tax collection's share in total revenue has significantly increased over time. The number of income tax filers has also grown substantially since 2013-14.

ITR form for homemaker with Rs 98k dividend income?

How The JioFinance App Makes Tax Filing Easy

Paytm Partners With ClearTax To Offer ₹11 ITR Filing Service Through App

IITian Earning Rs 1 Crore, Owner of 3 Houses, Borrows Rs 15,000 For Income Tax Return, Chartered Accountant Claims

Despite asset wealth, IITian cannot pay tax liability and borrows money to avoid penalties.

ITR deadline nears: Here's how to report house property income in tax returns

Taxpayers must report all residential property income while filing their Income Tax Return. Self-occupied properties have a Nil annual value, but deductions are claimable. Rented properties require reporting gross rent and municipal taxes paid. Vacant properties may be treated as deemed let-out, requiring notional income calculation. Accurate reporting prevents discrepancies and ensures eligible deductions are claimed.

TDS deducted but didn't file ITR? Check consequences

5 expert tips to avoid ITR form submission failure

Rajasthan man earning Rs 15K gets Rs 6cr tax notice

Wrong ITR reporting; ITAT waives ₹6.63 cr penalty

No Tax Payable, Yet ITR Filing Is Mandatory; Do You Fall Under These 10 Conditions?

Pune-Based CA Earns Rs 12 Lakh By Filing Income Tax Returns, Viral Post Claims

CA in Pune generates Rs 12 lakh filing 400 ITRs during tax season, hiring interns for help.

You may get you income tax refund by this timeframe

Filed Your ITR And Waiting For Refund, Check Income Tax Refund Status With These Simple Steps

Gratuity deduction denied as error in ITR

6 reasons you may receive income tax notice

Lower, Nil TDS Applications To Go Online, New Income-Tax Rules Coming Soon

ITR filing: How to track your tax refund status online

ITR refund status: A refund arises when the income tax that you have paid exceeds your final tax liability. This can be due to excess TDS, TCS, advance tax, self-assessment tax, deductions, exemptions, or treaty-based relief claimed in the return.

Lower or nil TDS certificates to go fully online soon

How should NRIs report gifts from relatives in ITR2?

ITR-7 Filers’ Tax Liability Rises Nearly Threefold In 5 Years To ₹1,043 Crore In AY 2025-26

Non-disclosure of Dubai a/c costs Rs 1.86L penalty

Filed Your ITR? Here’s What You Must Do Next

Have overseas assets? Check these new tax rules

200% income tax penalty on NRI cut to 50% in ITAT

Rs 2.47 cr cash deposit gets tax notice: Why ITAT Delhi ruled in favour of assessee

The shop owner said that deposited cash had come from sales generated by his pharmacy and had been properly recorded for in the concerned business books. To support his explanation, he submitted an audited balance sheet, VAT (value-added tax) returns and sample sales invoices. The Assessing Officer (AO), however, did not accept his account.

Income Tax Form 161 Revised, Taxpayers Must Pay Up To 120% Additional Tax For Penalty Waiver

Budget 2027 Buzz: Why Nirmala Sitharaman's Tax Remark Has Markets Excited

Finance Minister Nirmala Sitharaman at the Bloomberg News Economy Forum in New Delhi.

Canadian resident got notice for ₹83L STCG; he wins

₹1.7cr undisclosed cash from property sale; he wins

Sold redeveloped flat for Rs 1.95 cr & paid no tax

She bought Rs 13.5 lakh shares, sold them for Rs 77.47 lakh; gets tax notice

A woman purchased 60,000 shares of a company Ltd between March 3 and March 15, 2011, for Rs 13,52,850, at Rs 22.55 per share. The company subsequently issued bonus shares in a 1:1 ratio, which increased her holding to 1.2 lakh shares. The woman sold the shares between August 31 and December 24, 2012, and got around Rs 77,47,600.

Flat redeveloped, man sells in 8 days for Rs 1.95 cr; gets notice, ITAT gives relief

The man had purchased a 510-square-foot flat in a housing society in Mumbai, during FY 2006-07, where he lived with his wife. Many years later, in FY 2012-13, the housing society entered into a redevelopment agreement with a builder. The builder handed over the redeveloped flat to the man after the two parties entered into an Agreement for Permanent Alternate Accommodation in 2018.

Bombay HC Directs Income Tax Department To Expedite 27 Vodafone Idea Tax Cases, Extends Protection On ₹699.54-Crore Refund

Taxman capped LIC retiree's leave pay exemption at Rs 3L; ITAT allows Rs 9.04L

A woman retired from Life Insurance Corporation of India (LIC) on June 30, 2020 after more than 30 years of service. She received Rs 9.04 lakh as leave encashment, in addition to her other retirement benefits. While filing her income tax return (ITR), she claimed a tax exemption on the entire leave encashment amount.

Rs 3.99L penalty for under-reporting income

Dubai taxpayer wins unexplained ₹3.41 cr FCNR case

This TDS reporting form replaces 4 different forms

Man skipped ITR, declared Rs 12.9 lakh income after notice; ITAT cancels 200% penalty

The man in this case failed to file his income tax return, and the Income Tax Department issued him a notice. He subsequently responded by filing an ITR for assessment year (AY) 2018-19, reporting an income of Rs 12.9 lakh. However, the Income Tax Assessing Officer (AO) took the view that this income would have remained outside the tax net had the department not issued the notice to the man.

Dubai NRI’s 3.41 crore FCNR deposits get tax notice; ITAT spots yen-rupee error

A woman, who originally hails from Beawar, and now resides in Dubai, United Arab Emirates (UAE), decided to put money into investments in India. She along with her husband invested Rs 3.41 crore in two Foreign Currency Non-Resident (FCNR) term deposits. The husband’s name appeared as the first holder of both deposits, with the woman listed as the second holder.