Income tax is a direct tax levied on the income of individuals or entities. The Income Tax Department calculates income tax based on pre-determined income slabs applied to net taxable income. Income ...

From higher tax-free income thresholds and relaxed TDS norms to a longer window for correcting past returns, the measures ...

If you haven’t filed your Income Tax Return yet, December 31 is your final chance to claim your income tax refund. Missing ...

Taxpayers who have identified errors in their income tax returns for the 2024-25 financial year can still file a revised ITR ...

New income tax rules for 2025 bring welcome changes. Salaried individuals earning up to Rs 12.75 lakh will pay no tax. TDS ...

The Income Tax Department has said that the Non-intrusive Usage of Data to Guide and Enable (NUDGE) campaign aims to encourage taxpayers to voluntarily review their deduction or exemption claims that ...

Taxpayers claiming incorrect refunds face potential delays in their income tax refunds. The Income Tax Department is ...

People who are looking to file their ITRs for the financial year ended 2024-25 or the assessment year 2025-26 will have to ...

In most cases, refunds are issued within a few weeks to a few months. Delays may occur due to mismatches in TDS details, bank ...

If the taxpayer has failed to report foreign assets and income in the original ITR, there is an opportunity to rectify this ...

The Court held that condonation of delay cannot be granted merely on claims of ignorance or inconvenience. Genuine hardship and reasonable cause must be strictly ...