Itr Forms

Small incomes to overseas assets: Why missing them in ITR can cost big

Your ITR isn't just about salary. From small dividends to foreign holding, ESOPs and even low-balance accounts need disclosure or you risk heavy penalties.

ITR filed? Missing this post-filing step could mean no refund, more tax

Verifying your ITR within 30 days is mandatory. Skip it, and your return may be treated as invalid, leading to penalties, loss of refund, and other tax setbacks.

Influencers to F&O traders: here's what ITR utility update means for you

From influencers to F&O traders, the Income Tax department's revised 'Nature of Business' codes will affect how freelancers and professionals file their returns in AY 2025-26

ITR-2 e-filing opens: what's new in AY 2025-26, who needs to use form

Online tax form was delayed due to revisions that match legislative changes, say experts

Filed wrong ITR form? Consequences & how to fix it

'Filing a wrong ITR doesn't just stall refunds, it can trigger penalties and scrutiny if not fixed,' warns a tax expert

Changed jobs recently? Here's how to file ITR without any errors

'Switching jobs mid-year can complicate tax filing, but with a little attention to detail, you can avoid common mistakes. As experts say, 'A few extra steps today can save you headaches tomorrow.

Filing ITR 2025? Key tax breaks senior citizens must not overlook

Those who sold land or building must observe the recent changes to indexation benefits for calculating capital gains tax

ITR-U changes:Fix tax return errors of up to 4 years but with extra charges

ITR-U is applicable to any individual or corporate entity that has omitted or misreported income, missed deductions, or failed to file returns altogether.

Got a big gift recently? Here's how it could trigger a tax surprise

Experts decode how your cash, property, or crypto gifts could quietly land you on the tax radar

Old or new tax regime? A step-by-step guide to choose what's best for you

The new regime offers lower tax rates, but does not allow most tax deductions. On the other hand, the old regime permits popular tax deductions and exemptions

Filing tax returns with wrong ITR form can invalidate and delay process

Resident individuals may use ITR-1 if their total income is within ₹50 lakh and comes from salary or pension

Don't have Form 16? Here's expert advice on how to file tax returns

Monthly salary slips of a financial year, annual income statements and Form 26AS among documents that can be used

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

Govt notifies ITR forms; LTCG up to Rs 1.25L allowed under ITR-1, ITR-4

The government has notified the income tax return forms 1 and 4 for assessment year 2025-26, and made it easier for individuals with long term capital gains of up to Rs 1.25 lakh from listed equities to file returns. The government has also made certain changes in the form with regard to deductions claimed under 80C, 80GG and other sections and has provided a drop down menu in the utility for tax filers to select from. Also, assessees will have to furnish in the ITR section-wise details with regard to TDS deductions. Once the utility for filing ITR is made available by the I-T department, people can start filing ITR for income earned in 2024-25 fiscal. The last date for filing ITR for individuals and those who do not have to get their accounts audited is July 31. Usually, the ITR forms are notified before the end of the fiscal, mostly around February/March. This time, however, the ITR forms and the filing utility got delayed as revenue department officials were pre-occupied with the

Finance ministry notifies form ITR-B to report undisclosed income

Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income

Altered financial situation? Switch between new and old tax regime

Singhal informs that the tax rates are lower up to a certain income limit under the new tax regime

ITR-3 2024: New online, offline & Excel utilities! Step-by-step guide

The Income Tax department has made filing your ITR-3 easier than ever by offering three ways to do it! This gives you the flexibility to choose the method that best suits your needs.

Correct errors and omissions in income-tax return with updated return

Remember that an updated ITR can't be used to declare lower income, claim losses, or request more refund

ITR filing 2023: Here are some ways to file your income tax return

If an individual misses the deadline, he/she can still file a belated return until December 31

27% income taxpayers yet to file ITR, of which 14% can't meet deadline

Floods and related power outages in July in 7-8 states across the country cited as top reason for being unable to file by the July 31st date