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 ...
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 ...
According to a report, Union Finance Minister Nirmala Sitharaman is set to announce an overhaul of the Income Tax Act of 1961 ...
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 ...
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 ...
It is important to note that eligible taxpayers who were previously unable to claim the Section 87A tax rebate can now do so ...
Submitting tax-saving proofs on time not only reduces TDS but also streamlines your tax compliance. While the new tax regime ...
The Income Tax Department has released revised Excel utilities for ITR Forms 2 and 3. Additionally, the department has ...
To claim the Section 87A rebate, taxpayers must manually update the tax rebate column in the ITR Excel utility. After editing ...
The Income Tax Department can condone a delay in filing an ITR after the deadline lapses. If the department gives the nod, ...
Important financial updates for taxpayers, UPI users, and investors for January 2025; examine specifics on money rules.
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