The Income Tax Department can condone a delay in filing an ITR after the deadline lapses. If the department gives the nod, ...

"Taxpayers can currently only file belated or revised returns, excluding new filings that incorporate the 87A rebate. The ...

To claim the Section 87A rebate, taxpayers must manually update the tax rebate column in the ITR Excel utility. After editing ...

Submitting tax-saving proofs on time not only reduces TDS but also streamlines your tax compliance. While the new tax regime ...

Budget 2025 aims to simplify tax filing, reduce disputes, and foster a transparent, taxpayer-friendly system. The upcoming Union Budget 2025-26 is poised to introduce significant changes to India's ...

It is important to note that eligible taxpayers who were previously unable to claim the Section 87A tax rebate can now do so ...

Eligible taxpayers who have income up to Rs 5 lakh/7 lakh can claim tax rebate under section 87A up to Rs 12,500/25,000. The ...

According to a report, Union Finance Minister Nirmala Sitharaman is set to announce an overhaul of the Income Tax Act of 1961 ...

The main deadline to file ITR forms to claim refunds is generally July 31st every year, however, a window is open for late ...

Not filing an ITR on time can have numerous consequences, from penal interest and late fees to possible jail time. Meanwhile, if you file your return within the period for filing a belated return and ...

At present, small tax-payers with special rate income such as short-term capital gains are unable to claim the rebate under section 87A, even if their income is below the basic exemption limit, as the ...

The year 2024 has brought in significant changes to India's personal income tax structure, with multiple reforms announced in ...