Form 16 is a certificate provided by an employer to employees, which includes the details of the employee’s salary and the ...

Don’t let last-minute tax filing cost you money! From choosing the wrong ITR form to missing deductions, here are the biggest ...

December 31 is the deadline for filing revised or belated ITR for FY 2021-22. The last chance for filing late returns comes with a penalty, however, no penalty will be levied on revised returns.

This means if you chose the new tax regime last year, you can switch to the old one this year. However, you must decide before the ITR filing deadline (July 31, 2025). According to the Income Tax ...

For taxpayers without business income: They can simply select the old tax regime while filing their ITR and have the flexibility to choose between the two regimes every year.

The important question in the minds of taxpayers is: do they still have to file their income tax returns if their income is below Rs 12 lakh? ITR filing: The zero-tax income threshold has been ...

Form 16 provides details of the deducted tax amount and submission date and helps in ITR filing by ensuring accurate income ...

Even after the due date, you can revise a return and change the tax regime, but only if the original ITR was filed by the due date of filing. In my opinion, you can file a revised ITR to correct ...

To avail of this benefit, taxpayers simply need to file their Income Tax Return (ITR) as usual — no additional steps are required. Previously, individuals earning Rs 12 lakh per year would ...

The window is likely to open on April 1, 2025, and remain open till July 31. The deadline for ITR filing is July 31.(Reuters) While ITR filing can be done online, some people might find it confusing.

IT department can levy up to 50 per cent penalty ITR Last Date: The last date for filing the late Income Tax Return (ITR) is approaching fast. For the year 2020-21 (AY 2021-22), the last date is ...

In case you have missed filing your ITR by the July 31 deadline, you can file a belated ITR. You need to file an ITR under ‘section 139(1)’ of the Income-tax Act, whereas, in case of a belated ...