Page 3 - Itr Filing

First-time taxpayer's guide: Forms, filing, and avoiding common pitfalls

Experts break down what first-time filers should know, from selecting the right ITR form to avoiding common mistakes

From fake exemptions to old dues, CBDT tightens the tax net this year

With a record tax target this year, the CBDT is tightening scrutiny on top taxpayers, fake claims, and old dues while aiming for faster refunds and better taxpayer awareness.

ITR 5 gets a makeover with stricter capital gains, TDS rules for firms

The new ITR 5 form brings sharper rules on capital gains, TDS, and buy-back losses, raising the bar on compliance for firms, LLPs, AOPs, and more

New ITR-3 Form: Relief for professionals as asset limit raised to ₹1 crore

CBDT doubles asset reporting limit to ₹1 crore under revised ITR-3 for AY 2025-26 and introduces structured capital gains rules, buyback taxation, and dropdown menus

Old vs new tax regime: which one saves you more money in ITR filing

A breakdown of deductions, exemptions, savings under the old and new systems will help you manage your finances

New ITR forms for AY 2025-26 make filing taxes easier for small investors

Salaried taxpayers and small investors can now file simpler Sahaj and Sugam forms if LTCG from listed securities is up to Rs 1.25 lakh

ITR filing 2025: CBDT notifies ITR-B to report undisclosed income

The taxpayer must accurately declare all previously undisclosed income that was discovered during the search or requisition. Any omission or misrepresentation can lead to severe penalties

Income-Tax Bill 2025: File tax return by due date to be eligible for refund

Deductions related to salary, including standard deduction and leave encashment, are now grouped under a single clause

I-T return filings rise nearly 4% to 83.9 million in FY25: Govt data

To include more taxpayers within the income tax framework, the scope of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) has been broadened, Chaudhary said

1.2 million ITR filers for FY 2023-24 have not got refund: How to fix issue

According to an expert, if all details are correct and no notices are pending, but the refund is still not received, contact the Centralised Processing Center (CPC) of the Income Tax Department

Wrongful tax claims: File revised, updated ITR before I-T dept's scrutiny

Once a wrongful claim is detected, penalties follow

Income Tax dept updates ITR Forms 2 and 3 for claiming 87A tax rebate

It is important to note that eligible taxpayers who were previously unable to claim the Section 87A tax rebate can now do so by filing a revised or belated income tax return (ITR)

Now, file rectification requests online for incorrect ITR processing

New feature added to the ITR portal streamlines rectification process, which previously required manual submissions and was often fraught with delays and complications

These rule changes will impact how you file Income Tax returns in 2025

July 2024 steps will shape tax deductions and exemptions that can be claimed when filing an Income Tax Return (ITR) in July 2025

CBDT extends deadline to Dec 15 for taxpayers with overseas transactions

This extension is applicable to taxpayers who have global transactions and are needed to provide reports under Section 92E

ITR 2024: Declare foreign assets by Dec 31 or face Rs 10 lakh fine

The deadline to submit revised or belated ITRs is December 31

ITR filing deadline for audit cases is Nov 15: file now to avoid penalties

If a taxpayer misses the deadline to file their income tax return by November 15, 2024, they still have the option to submit a belated return by December 31, 2024

New portal for filing I-T returns aims to simplify work for taxpayers

Before launching the new portal, the Income Tax Department is seeking feedback from the public and stakeholders

I-T department processes nearly 4 Cr ITRs in 15 days : How to check return

Over 7.28 crore income tax returns for Assessment Year 2024-25 were filed till July 31, 2024

Record 72.8 million ITRs filed till Jul 31 deadline, says I-T department

About 5.9 million were first-time filers, reflecting widening of the tax base