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December 20, 2023
Income tax department has launched a facility called Demand Facilitation Centre (DFC) for helping people solve their pending tax outstanding demand issues faster. The DFC agents would help the individuals understand the reason behind the tax notice and suggest ways to solve it. Further DFC agents may connect you with the assessing officer (AO) directly too in some cases.
November 18, 2023
The Madras High Court has allowed the Foreign Tax Credit (FTC) claim on the grounds that filing Form-67 after filing the Income Tax Return (ITR) but before the issuance of an intimation amounts to due...
August 5, 2023
If a taxpayer has paid more taxes than their actual tax liability, they can claim the excess amount as a refund.
July 14, 2023
In November 2021, the income tax department has launched the AIS. It may happen that you have forgotten to check it before filing ITR. What are the repercussions of not checking AIS before filing ITR? ET Wealth spoke with income tax experts and here is what they have to say.
July 14, 2023
Read below to find out how people who work as consultants and freelancers file their income tax returns (ITR) online on the e-filing website. Do note that income tax rules for consultant and freelancers incomes are different than those for salaried individuals. A consultant is eligible for certain business expenses that salaried individual cannot claim.
July 7, 2023
The ITR-2 form is typically applicable for individuals and Hindu Undivided Families (HUFs) who have income from various sources, excluding business or profession
December 15, 2022
The Income Tax Department will send an intimation through SMS or mail
September 7, 2022
ITR refund status: Last week, the Central Board of Direct Taxes (CBDT) declared that the department had issued refunds of over Rs 1.14 lakh crore to more than 19.7 million taxpayers between April 1 and August 31.
August 1, 2022
What should you do if you have missed the deadline to file your Income Tax Return? Read on to find out.
April 9, 2022
The finance ministry on Friday said over 22 per cent of the verified returns were processed on the same day, while the overall average processing time was only 26 days for ITR assessments in the last fiscal year.