Form 16/ 16A is the declaration of tax deduction at source provided by the employer on behalf of the employees. Form 16 is released yearly for the preceding fiscal year, generally before the end of ...

The National Board of Revenue (NBR) has issued a special order regarding the submission of income tax returns online. According to this order, from the fiscal year 2025-2026, all individual taxpayers ...

Carry forward losses to offset future gains Claim an income tax refund Secure a visa or loan from banking institutions Purchase term insurance Filing an Income Tax Return (ITR) is a crucial ...

As the July 31, 2024, deadline for filing Income Tax Returns (ITR) approaches, taxpayers across India are gearing up to submit their returns on time. You can file returns through private tax ...

This requirement applies even if the taxpayer’s income is below Rs 2.5 lakh, the minimum amount not chargeable to tax. Taxpayers are required to select an ITR form (Income Tax Return form) based on ...

Filing Income Tax Return (ITR) is an annual obligation for eligible Indian taxpayers. Filing your Income Tax Return (ITR) is a crucial step that not only fulfils a legal requirement but also ...

What is the revision of the income tax return? The revision of the income tax return is filed under section 139(5) of the Income Tax (I-T) Act . If any taxpayer, after having filed a return under ...

What is Discard IT return option? As the name suggests, the new option allows an income tax payer to “discard” their IT return, instead of filing a revised one in ...

A check mark. It indicates that the relevant content has been reviewed and verified by an expert This story has been reviewed by a professional to ensure you get the most accurate and useful ...