Page 3 - Itr

ITR reassessment: check who can get tax notice under 148 by August 31, 2024

Before issuing a reassessment notice, the officer may conduct an inquiry by issuing a show cause notice (SCN) to the taxpayer, accompanied by information indicating the possibility of income escaping

How long will it take to get your ITR refund & will you receive interest?

A taxpayer can seek a refund for any extra tax amount paid or withheld in a particular fiscal year by filing their income tax returns for that year

Income Tax Department warns against scams promising refunds: Check details

Scammers are posing as tax officials and pressuring individuals to make urgent payments to avoid penalties

Exaggerated, bogus claims to get refunds punishable offence, warns I-T dept

The I-T Department has asked income tax return filers to not make bogus claims for expenses, under-report their earnings or exaggerate deductions as this is a punishable offence and causes a delay in issuance of refunds. The ITR filing season for assessment year 2024-25 will end on July 31 for all categories of taxpayers whose accounts are not supposed to be audited. According to the Income Tax Department and its administrative body Central Board of Direct Taxes (CBDT), over five crore ITRs have been filed, as of July 26. In a recent public communication, the Income Tax Department asked taxpayers to file their returns correctly to get timely refunds. "Refund claims are subject to verification checks, which may cause delays. Accurate filing of ITR leads to quicker processing of refunds. Any discrepancies in the claims made will prompt a request for a revised return (to be filed by the taxpayer)," it said. It cautioned ITR filing taxpayers to not claim "incorrect" Tax Deducted at So

ITR filing: How to download acknowledgement number from tax dept website

The acknowledgment acts as an official receipt from the tax department, assuring taxpayers that their return has been successfully received

File ITR 2024 via WhatsApp before July 31: Here's a step-by-step guide

This year, a new facility has been introduced that allows you to file your ITR directly via WhatsApp

ITR filing: Who is responsible for paying taxes on minor's earnings?

A minor can have a PAN card and his parents or guardian can apply for the same

Filing income tax returns 2024 for the deceased: A step-by-step guide

ITR 2024: Even after someone passes away, their income tax return must be completed as if they were alive

Home truth about submitting fake rent receipts to claim HRA deduction

Practice is illegal any may lead to heavy penalties, say tax experts

ITR 2024: Taxpayers struggle with glitches on I-T portal as July 31 nears

ITR 2024: If you wait until the last minute to file your taxes, you might run into technical problems on the income tax e-filing portal

How to obtain Form 16A: Your guide to downloading TDS certificates

Form 16A is issued by an employer or deductor in a financial year

ITR return: How to report foreign income in tax return?

Individuals with foreign assets and income are required to use either ITR 2 or ITR 3 forms to file their tax returns

Filing ITR 2024 for pensioners: What you need to know before July 31

Under the Income Tax Act, pensions are classified as "Income from Salaries"

Aadhaar OTP, electronic verification: Ways to verify Income Tax return

If you fail to complete the process, your return is treated as not filed and it will attract all the consequences of not filing ITR under the Income Tax Act, 1961

ITR filing 2024: Forms, eligibility criteria, and what you need to know

In April 2024, the CBDT released seven different ITR forms for the financial year

10 key points first time taxpayers should know before filing IT returns

If you find the process complicated, don't hesitate to seek assistance from a qualified tax professional

Credit score to avoiding penalty: Why you must file your ITR before July 31

Filing early allows you ample time to collect all required documents and information, ensuring your tax return is accurate

Switched jobs? Align multiple Form 16s for accurate income tax filing

Also ensure that Form 16 and Form 26AS contain identical TDS details

ITR filing 2024: Rent receipts and landlord's PAN mandatory for HRA claims

HRA is shown in your salary slip and also in the tax projection statement provided by your employer at the start of the financial year

Tax deadline: Who should file ITR early and not wait till May 31

Filing taxes closer to the deadline allows individuals to assess their financial situation more accurately