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New Delhi: Many taxpayers delay filing their income tax returns (ITRs) until the last moment, causing delayed refunds, avoidable stress, and potential penalties. Despite the simplification of the process over the years, procrastination remains common. Why delays happen Taxpayers wait for updated ITR forms and filing utilities, which usually release after the financial year ends….
New Delhi: The average number of days it takes for taxpayers to get refunds from the Income Tax Department in India has come down drastically from 93 days in 2013 to a mere 17 days in 2024, reflecting the increased efficiency in the system on the back of rising digital infrastructure that enables faceless online…
New Delhi: Central Board of Direct Taxes (CBDT) has in its latest circular has said that electronically filed valid returns of income filed u/s 139 of the Act for Assessment Years (AY) 2023-24, for which date of sending intimation has lapsed, shall be processed now and intimation shall be sent to the assessee concerned by…
CA Sunil Kumar Jain14 minutes ago Copy link If your income comes under the purview of the tax slab, then you need to fill the Income Tax Return (ITR). Often people miss the ITR. This increases the possibility of getting income tax notice. Revised ITR filling can be fined. This time the last date for…
No news Business Now You Can File ITR, Income Tax Department Has Released ITR 1 And ITR 4 Forms, You Can File Return Till September 15 New Delhi4 minutes ago Copy link The Income Tax Department has released the Excel Utility version of ITR-1 and ITR-4 forms for Financial Year 2024-25 or Assessment Year 2025-26….
Here’s a relief for taxpayers – the Central Board of Direct Taxes (CBDT) has extended the last date for filing income tax returns (ITRs) for the assessment year 2025–26. The earlier deadline of July 31, 2025 has now been pushed to September 15, 2025. WHY DID THE CBDT EXTEND THE ITR DEADLINE? The main reason…
No news Business PAN Card Status Checking Process Explained; How To Check | Business News New Delhi12 minutes ago Copy link Income tax return for FY 2024-25 i.e. ITR is to file by 31 July. In such a situation, if you have not yet filed ITR, then do it as soon as possible. Tax Expert…
New Delhi: The Central Board of Direct Taxes (CBDT) has notified the new Income Tax Return (ITR) Form 5 for the assessment year (AY) 2025-26 with some key updates. The Income Tax Department has introduced several changes in the new I-T return form, it said on an X post on Saturday. A major change involves…
ITR Filing Deadline: The Income Tax Department has extended the deadline for filing belated or revised income tax returns for the Assessment Year (AY) 2024-25 for resident individuals, as stated in a notification issued by the CBDT. Taxpayers now have until January 15, 2025, providing an additional two weeks to finalize or amend their filings….
Representational Image Taxpayers with an income tax liability exceeding Rs 10,000 must pay advance tax by December 15 to avoid penal interest and penalties. This “pay-as-you-earn” tax applies to individuals, businesses, and salaried professionals whose post-TDS liability crosses the threshold. Missing the deadline can result in financial repercussions. What Is Advance Tax Advance tax is…