Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch
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 ...
Income Tax dept updates ITR Forms 2 and 3 for claiming 87A tax rebate
It is important to note that eligible taxpayers who were previously unable to claim the Section 87A tax rebate can now do so ...
Income Tax Deadline! Last one week to file revised, belated return
Taxpayers must note that the deadline for filing a belated income tax return or submitting a revised return for the ...
Wait until I-T portal glitch is resolved before revising returns, CAs tell tax-payers
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 ...
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Budget 2025: Easier ITR filing and tax dispute reduction expected, says report
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 ...
Union Budget 2025: Centre may take steps to simplify ITR filing process, says report
According to a report, Union Finance Minister Nirmala Sitharaman is set to announce an overhaul of the Income Tax Act of 1961 ...
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What are the consequences of not filing Income Tax Returns on time?
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 ...
Bodybuilder & YT Star Park Seung-Hyun's Family Shares Devastating Cause of Death; Tributes Flood In | WATCH
Hyun, renowned bodybuilder and YouTube sensation, has tragically passed away. His family has now revealed the devastating cause of his untimely death, leaving fans and loved ones in shock. As tributes ...
Remembering Peter Yarrow: The Iconic Folk Singer Who Touched Hearts Worldwide | A Soulful Tribute
It is with great sadness that we bid farewell to folk music legend, Peter Yarrow, who has left us. Known for his powerful voice, evocative lyrics and timeless contributions to the folk music scene, ...
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WWE 2K25 Teased with Screenshots, Roman Reigns is Likely Cover Star
WWE 2K 25 was teased during the first RAW live on Netflix as Roman Reigns walked backstage. Following the reveal of the WWE ...
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Cash received from agricultural income deposited during demonetization-ITAT deleted addition
In the matter abovementioned ITAT deleted addition made on account of undisclosed cash deposits during demonetization period after observing that assessee has substantiate means of income for ...
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Interest from Nationalized Banks Not Deductible under Section 80(P): ITAT Ahmedabad
ITAT Ahmedabad held that interest received by co-operative society from SBI, which is a Nationalized Bank, is not allowable as per the section 80 (P) of the Income Tax Act. Accordingly, AO directed to ...