Income Tax Return News


Income Tax Filing 2024: What to do if Form 16 data mismatches ITR prefilled form?

Form 16 must be provided as per Section 203 of the Income Tax Act. Nevertheless, discrepancies may arise between the information in this form and the pre-filled ITR form.

3 min read04:42 PM IST

Income Tax Return: What are the alternatives to Form 16 that can be used while filing ITR?

Don’t delay preparing your ITR until you receive Form 16. Calculating income and deductions manually provides a detailed view of your finances and ensures accuracy. By collecting alternative documents, you can file your ITR well ahead of the deadline.

4 min read12 Jun 2024

Income Tax Filing: 10 necessary guidelines that you must be aware of

Submitting your income tax return stands as a crucial yearly obligation for numerous individuals in India. Equally vital is the necessity to abide by specific essential directives before completing the ITR form.

10 min read12 Jun 2024

Income Tax Return: How to maximise your tax refunds while filing ITR?

Claim available deductions and exemptions to minimize tax burden in India. Sections 80C and 80D provide opportunities for tax savings. Timely filing of Income Tax Return and accurate bank account validation are essential for smooth refund processing.

10 min read10 Jun 2024

Income Tax Return filing: Salaried individuals need to be aware of these 5 key points

Taxpayer should define the nature of employment at the time of filing of income tax return while filing of return i.e., whether s/he is central government employee, state government employee, employee of public sector enterprises, pensioners, employee of private sector.

2 min read4 Jun 2024

Private sector employees should focus on EPF, PPF, NPS for retirement, says Preeti Sharma of BDO India

Generally, due to the lack of knowledge about the tax laws, Individuals travelling for work outside India are unable to correctly determine their Indian Residential Status and taxability and assume that income from foreign employment is not taxable in India.

6 min read3 Jun 2024

Submitted wrong ITR form? Know how many times you can revise return

You can file a revised return under Section 139(5) of the Income Tax Act of 1961 to correct any mistakes or omissions in your initial ITR filing.

3 min read3 Jun 2024

Aadhaar-PAN link: Income Tax Department issues step-by-step guide to avoid higher TDS. Check here

Aadhaar-PAN link: Income Tax Department guides on linking Aadhaar with PAN to avoid higher TDS rates

3 min read30 May 2024

ITR Filing FY24: 6 key points taxpayers must know as July 31 deadline looms large

It is advisable to file your tax return as soon as possible, but it isn’t recommended to do it sans proper home work. For instance, one should know the correct income tax form to fill, the right tax regime to opt for.

2 min read29 May 2024

Income Tax: 4 key long term tax saving investment options for women investors

Explore tax-saving options for women like Sukanya Samriddhi Yojana, NSC, PPF, and insurance policies. Plan taxes early to ensure a stress-free year-end. Housewives must file returns if income exceeds exemption limit. Understand income tax slabs to maximize savings.

3 min read28 May 2024
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