ITR filing process ends with receipt of intimation notice under section 143(1) – Here’s how to read it

The notice issued under sectionn143(1) informs the taxpayer whether the income tax calculation given by him in the ITR matches with that of the tax department as per the information they have.

Forgot to verify your income tax return? Here is what you can do

What will happen if you do not verify your ITR with the 120-day time limit; it could happen that you forgot to do so.

Explained: Presumptive income tax scheme and why it helps those who find it difficult and costly to maintain books of accounts

Once you file income under presumptive tax scheme, you have to follow the same method for the next five years. In case an assessee opts out in an year, she shall not be allowed to file return under it for the subsequent five years

Income Tax: Form 26AS info list to include foreign remittances, mutual funds

• Central Board of Direct Taxes has expanded the scope of information reported in new Form 26AS
• Prescribed additional information includes foreign remittance, salary breakup, interest on Income Tax Refund, and more

Revised Income Tax Return: Failed showing investment upto Rs 1.5 lakh in SCSS, SSY, NSC? Do this now

Revised Income Tax Return: Investments made in schemes like Senior Citizen Savings Schemes (SCSS), National Savings Certificate (NSC), Sukanya Samriddhi Yojana (SSY), Public Provident Fund (PPF) etc. are eligible for deduction under Section 80C.

Income Tax Return: Filing ITR? Take these precautions to avoid mistakes

The last date of filing the returns for the Assessment Year 2021-22 has been extended to December 31, 2021.

Explainer – Income tax rules for NRIs who invest in stocks, mutual funds in India

Alert taxpayers! New income tax online portal will be unavailable for 12 hours this weekend

New income tax online portal update: Due to this downtime, you will not able to access the e-filing portal to file your Income Tax Return

Emigrating? Here’s a ready explainer on income tax implications

Compliance with various tax laws including provisions on residential status and global income will help those migrating overseas to avoid long-drawn inquiries and litigation with the Indian authorities

Pre-validate bank account in minutes to receive income tax refund. Here’s how

Along with the pre-validation, you also have to link your PAN with your bank account. If they are not linked, you will not be able to get the income tax refund in your bank account.