The Income Tax Act review—announced on July 23—was supposed to be completed in six months, which ended on January 23. Can we ...

The penal rate would be 25 per cent of the aggregate tax and interest payable if the updated return is filed within 12 months ...

As the deadline approaches for filing the belated or revised Income Tax Returns (ITR) for Assessment Year (AY) 2024-25, taxpayers have a few more days to avoid costly penalties and complications. Here ...

For ensuring parity and uniformity In the application of the PPT provision under India’s DTAAs, it is clarified that the PPT provision is Intended to he applied prospectively. Accordingly, the PPT ...

Anyone earning Rs 2.5 lakh or more in India must file an ITR. This rule applies to everyone, not just high-income earners.

The Income Tax (I-T) department is inviting suggestions for a comprehensive review on its portal, eportal.incometax.gov.in. The suggestions that are to be made should relate to a particular ...

Today is the extended deadline set by the Central Board of Direct Taxes for filing belated and revised income tax returns for accounting year 2024-25. The extended deadline is applicable in the case ...

Income details: Salary, dividends, interest from savings accounts, fixed deposits and bonds. Tax payments: Details of TDS, ...

As India prepares for the Union Budget 2025, tech sector leaders advocate for policies to enhance AI, mobile manufacturing, ...

Taxpayers must note that they cannot file updated returns to lower the tax liability in the original return or to claim ...