In the field of personal finance and taxation, few things are as essential as filing your Income Tax Return (ITR) on time. It’s a civic responsibility and a financial necessity that en… Read More

NRI Taxation in India We all recognize that taxes collected from citizens form the bedrock of India’s economy. However, the Indian Income Tax Act of 1961 prescribes a distinct taxa… Read More

The ITR-3 form is one of the income tax return forms that can be used by individuals and Hindu Undivided Families (HUFs) who have income from profits and gains of business or profession… Read More

Through the Union Budget 2020–21, the Indian government implemented a new tax system under Section 115BAC of the Income Tax Act, 1961. In comparison to the previous tax system, the new… Read More

The government on Monday gave businesses some comfort by extending the deadline for filing income tax returns by one month, to November 30. In addition, the deadline for businesses that need… Read More

New Delhi, Sep 18 (IANS) The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing audit reports in Form 10B/Form 10BB for the Financial Year 2022-23 by a month from… Read More

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Filing income tax returns (ITR) is a critical responsibility for taxpayers, ensuring compliance with tax regulations and avoiding penalties. However, situations arise where individuals m… Read More

How to respond to an erroneous notice from the I-T Dept Introduction: How to react to a mistaken notice from the IT Department There are likely to be several cases involving deducti… Read More

In accordance with Section 44AB of the Income Tax Act, 1961, specific taxpayers must perform an audit of their financial records for income tax purposes. The deadline for submitting the inco… Read More

Processing Time for ITR The deadline for filing income tax returns (ITRs) for the financial year 2022-23 (assessment year 2023-24) was July 31, 2023. However, many taxpayers are still wa… Read More

Consequences of Neglecting Mandatory Income Tax Audits Income tax audits play a pivotal role in maintaining the transparency and accuracy of financial records for individuals with busine… Read More

The last date to file an income tax return (ITR) for the FY 2022-23 was July 31, 2023, which has lapsed. Individuals who missed the ITR deadline can still file the ITRs, which will be term… Read More

Filling out an income tax return can be a complex process, and the exact steps can vary depending on your country’s tax laws and regulations. However, I can provide you with a general… Read More

As the deadline for submitting income tax returns approaches, it’s important to make sure you don’t make some of the frequent errors that many taxpayers commit when submitting th… Read More

It’s that time of year once again! We must all focus on one of the most crucial activities in our financial lives as the new year is underway: filing our income tax returns. So, better… Read More

Filing income tax returns (ITR) is responsibility for individuals and businesses alike. This process ensures compliance with the tax laws of a… Read More

ITR forms are being filled out all the time. ITR has been filled out by more than a billion people. You can also file an ITR by July 31 for the fiscal year 2022–2023. If you miss the d… Read More

Is NRIs need to pay income tax in India? Of course, yes! Non-Resident Indians, also known as NRIs, are obligated to pay income tax in India on any income they have earned there. The taxes sy… Read More