Have income tax-related questions? Ask rediffGURUS Mihir Tanna, Vipul Bhavsar, T S Khurana, Vivek Lala and Anil Rego.
From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
The Maha Vikas Aghadi (MVA) alliance in Maharashtra is showing signs of strain as both Shiv Sena (UBT) and Congress have announced their intention to field candidates for the upcoming legislative council elections.
The income tax department has notified all seven income tax return forms for assessment year 2025-26. While ITR forms 1 and 4, which are filed by small and medium taxpayers, were notified on April 29; ITR-7, filed by trusts and charitable institutions, was notified on May 11.
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions
The income tax department has notified ITR forms 1 and 4 for assessment year (AY) 2025-26 that are to be filed by individuals and entities with total income of up to Rs 50 lakh a year. Now individuals having long-term capital gains of up to Rs 1.25 lakh in a fiscal year can also file ITR-1.
Fexo, an AI intelligence platform focused on the BFSI sector, has launched its AI decisioning engine for business loans, designed to help financial institutions accelerate AI adoption and improve decision-making processes.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Sunita Harisinghani tranforms traditional carrot halwa into bite-sized Gajjar Halwa Laddoos that will make your sweet tooth dizzy with excitement.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
The platform recorded a peak rate of 917 filings per second on July 17 and 9,367 filings per minute on July 31.
rediffGURU T S Khurana answers readers' personal income tax queries.
'Once filed, it cannot be revised or rectified.'
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.
'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.'
rediffGURU T S Khurana answers readers' personal income tax queries
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
It is advisable to file your ITR right away and not rely on potential extensions.
Income Tax department have released different tools to help you file your ITR-3 form easily.
'If taxpayers have not filed a belated ITR, they will be allowed to file an updated ITR from April 1, 2024.'
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
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.
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.
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.
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.
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.
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.
Form 16 contains details of salary income, deductions, and exemptions.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
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
If you have not yet filed an ITR for the 2022-2023 financial year, you can file a belated return.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
The income tax department will allow people to file 'belated return' until December 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.
