The Income Tax department will start sending SMS/emails to about 25,000 individuals, who are part of the "high-risk" cases identified for non-disclosure of foreign assets in the income tax returns (ITRs) filed for Assessment Year (AY) 2025-26, sources said.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
When one of the most adored voices of India decided to hang up his boots as far as playback singing is concerned, fans and fraternity went in a tizzy. Sukanya Verma tells you why.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
India successfully test-fired two Pralay missiles in quick succession off the coast of Odisha, paving the way for its induction into the military. The missile is indigenously developed and features a state-of-the-art navigation system.
rediffGURU T S Khurana answers readers' personal income tax queries.
rediffGURU T S Khurana answers readers' personal income tax queries
'Once filed, it cannot be revised or rectified.'
The platform recorded a peak rate of 917 filings per second on July 17 and 9,367 filings per minute on July 31.
rediffGURU Ravi Mittal, CEO of Quack Quack, an online dating Website and Rebounce, a matchmaking matrimony platform, counsels a young man on how to approach the situation with sincerity.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
It is advisable to file your ITR right away and not rely on potential extensions.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Income Tax department have released different tools to help you file your ITR-3 form easily.
Think again. Not filing could cost you. Here's who must file, who should, and why it matters. What's more, the deadline to file your ITR has been extended till September 15, 2025
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
The income tax department will allow people to file 'belated return' until December 31.
'If taxpayers have not filed a belated ITR, they will be allowed to file an updated ITR from April 1, 2024.'
rediffGURU T S Khurana answers readers' personal income tax queries
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The income-tax department is set to launch a screen-based automated reconciliation system for plugging mismatches between returns filed by taxpayers and information processed by the department.
More than 8 crore income tax returns for assessment year 2024-25 have been filed this year, of which 74 per cent taxpayers have opted for new tax regime, a source said. Also, around 75 lakh updated ITRs have been filed this year in high garnered additional taxes of Rs 8,000 crore.
The Enforcement Directorate (ED) has arrested Jawad Ahmed Siddiqui, chairperson of the Al Falah group, on money laundering charges. The ED alleges that Siddiqui generated Rs 415 crore dishonestly from students of educational institutions run by his Trust.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
The Income Tax department on Friday said it has notified I-T return forms 2, 3 and 5 for filing tax returns for assessment year 2024-25. The ITR-1, which is filed by individuals having a total income of up to Rs 50 lakh, and ITR-6 for companies were notified earlier in December 2023, and January 2024, respectively.
The Enforcement Directorate (ED) has secured a 13-day custodial remand for Jawad Ahmed Siddiqui, chairperson of the Al Falah group, accused of generating over Rs 415 crore dishonestly from students. The ED claims Siddiqui has incentives to flee India as his family is settled in the Gulf.
Form 16 contains details of salary income, deductions, and exemptions.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
rediffGURU T S Khurana answers readers' personal income tax queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
If you have not yet filed an ITR for the 2022-2023 financial year, you can file a belated return.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Quoting an incorrect PAN during property registration can invite penalties and prosecution.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
