REVISED ITR
How to file ITR-2 online with salary, capital gains and other incomes for FY 2023-24 (AY 2024-25)? ITR-2 can be filed using the Excel or Java utilities provided by the income tax department, or online directly through the e-filing portal. This guide outlines the most effective way to file ITR-2 online, including examples of reporting salary, capi...
05 Jul, 2024, 12.42 PM ISTHow to file ITR-1 with salary, income from house property and other sources for FY 2023-24 (AY 2024-25) File ITR-1 online: Here is a step by step guide on how salaried individuals can file their income tax return using ITR-1 form easily on the income tax department's e-filing website. ITR-1 form is also known as Sahaj. Individuals having income from s...
02 Jul, 2024, 01.24 PM ISTGot Form 16 from your employer? Check these points before filing ITR Form 16 has all the essential information to file your income tax return easily. It's crucial to double-check that the information in Form 16 is accurate. The income tax department currently provides pre-filled ITR forms on its e-filing website. The...
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26 Jun, 2024, 01.15 PM ISTLast date for filing income tax return (ITR) for FY 2023-24 (AY 2024-25) Due date of income tax return filing: Under the income tax laws, different taxpayers have different due date for filing ITR. It is important to file the tax return on or before the deadline to avoid certain penal consequences. This includes payment ...
12 Jun, 2024, 12.31 PM ISTITR filing forms for FY 2023-24 (AY 2024-25): Which income tax return form applies to you? ITR forms: The important part of ITR filing process is to identify the correct the income tax return form applicable to their incomes. Filing income tax return using wrong ITR form will make the filed ITR as defective ITR. Read on to know the correc...
10 Jun, 2024, 02.41 PM ISTSalaried individual filing ITR? Advisable to wait till June 15 ITR filing for salaried individuals: The last date to file income tax returns for salaried and other taxpayers (whose accounts are not required to be audited) is July 31 every year. However, it is advisable for salaried individuals to start the proc...
01 Jun, 2024, 10.53 AM ISTTaxpayer is entitled to claim benefit of exempted income in revised ITR if it is filed within the deadline Income tax return: The Supreme Court of India has refused to accept a petition wherein the tax department's assessing officer (AO) contested that a individual be denied the benefit of exempted income which he claimed by filing a revised ITR. The rea...
14 May, 2024, 03.55 PM ISTIf you missed filing updated ITR by March 31, can you go to jail? ITR-U: The deadline to file updated income tax return (ITR-U) for FY 2020-21 (AY 2021-22) was March 31, 2024. However there is no need to worry since an individual cannot be jailed just for not filing ITR-U. But the income tax department can seek im...
01 Apr, 2024, 10.37 AM ISTIncome Tax dept asks many individuals to explain high value transactions of FY20-21 as Updated ITR deadline nears The deadline to file updated income tax return (ITR-U) is March 31, 2024 for FY 2020-21 . In light of this deadline, the tax department is sending intimation to taxpayers urging them to check the AIS/Compliance portal regarding identified specified/...
22 Mar, 2024, 10.55 AM ISTMarch 31 is the last date to file ITR-U for AY 2021-22; If you miss, be ready to pay up to 200% of the income tax evaded Income tax updated return: March 31, 2024 is the last date to file an updated income tax return (ITR-U) for AY 2021-22 (FY 2020-21). Do note that ITR-U may be used to fix errors like under-reporting or misreporting of income, or any other errors in ...
22 Mar, 2024, 10.55 AM ISTITR portal shows inflated income to some taxpayers; Rs 450 showed as Rs 45000. Here's what to do if you face similar issue The Income-tax department said on X said that they have "identified certain inconsistencies in the data of the securities market (SFT-17) provided by one of the Reporting Entities." It appears that due to this the Income-tax department's 'Compliance...
12 Mar, 2024, 04.54 PM ISTWait for unprocessed income tax refund to get longer; deadline extended by 3 months Income tax refund: Individuals who have pending income tax refund due to the fact that their income tax return (ITR) was not processed by the income tax department would now get their income tax refund by April 30, 2024. However not all individuals ...
03 Feb, 2024, 03.16 PM ISTExtend last date to file revised ITR for foreign tax credit in Budget 2024: View The government in Budget 2021 reduced the time limit to file revised income tax return by three months i.e., from March 31 to December 31. Earlier an individual used to get time till end of the assessment year to file their revised ITR but now they ...
27 Jan, 2024, 10.38 AM ISTIncome tax calendar 2024: Important tax-related dates you need to know With the start of the new year, it is important to remember important deadlines for the year. Knowing the last dates well ahead of time can help individuals to avoid penalties. Here is the income tax calendar for 2024 telling you all the important l...
05 Jan, 2024, 11.26 AM ISTYou won't get a refund for professional tax paid at this income level Professional tax is a tax levied by the state government and the income tax act allows an deduction of professional tax actually paid from gross total income of the individual. Unlike TDS professional tax is not refunded if the individual's net inco...
05 Jan, 2024, 11.25 AM ISTMissed ITR filing deadline of July 31 for FY 2022-23? Don’t forget to file belated ITR by Dec 31 If you have missed the income tax return (ITR) filing deadline of July 31, 2023, then you have time till December 31, 2023 to file a belated ITR. Also, if there is a mistake in the belated or original ITR, then also you can file revised ITR. The las...
29 Dec, 2023, 11.12 AM ISTIs there a penalty for filing revised income tax return (ITR) after July 31? Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
13 Sep, 2023, 04.04 PM ISTITR Filing FY2022-23: Do you need to revise your income tax return (ITR)? Find out here ITR Filing FY2022-23: Revised income tax returns for the current assessment year can be filed till 31 December 2023. The revision can be done even after the return has been processed by the tax department. If you made a mistake in your tax return, y...
28 Aug, 2023, 06.30 AM ISTReturn excess income tax refund else you may get tax notice It may happen that an individual has incorrectly filed his ITR by July 31, 2023 for FY 2022-23 (AY 2023-24), and the ITR got processed and he/she got the income tax refund too. However now realising his/her mistake the individual wants to file an re...
24 Aug, 2023, 10.17 AM IST