Organise your PAN, Form 16, Form 26AS, AIS, and all other proofs before e-filing.
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
Deductions missed in Form 16 can still be claimed while filing ITR.
The Income Tax Department has notified ITR forms 1 and 4, which are filed by individuals and entities with annual total income of up to Rs 50 lakh for FY 2023-24 (AY 2024-25). Individuals, besides Hindu Undivided Families (HUFs), firms having income up to Rs 50 lakh and those having earnings from business and profession in the current fiscal (April 2023-March 2024) can start filing returns for the income earned this financial year.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
Form 16 contains details of salary income, deductions, and exemptions.
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2.
It is advisable to file your ITR right away and not rely on potential extensions.
The platform recorded a peak rate of 917 filings per second on July 17 and 9,367 filings per minute on July 31.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
The Income Tax department has enabled online filing of income tax returns (ITRs) 1 and 4, filed by individuals, professionals and small businesses, for 2022-23 fiscal. In a tweet, the income tax department said, the software/utilities for preparing other ITRs/ Forms will be enabled shortly.
rediffGURU T S Khurana answers readers' personal income tax queries.
If an assessee misses the December 31 deadline, s/he can file a belated tax return by paying a late filing fee. 'This must be done within three months from the original filing date.'
Missing the deadline for filing Income Tax returns can lead to consequences.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday.
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.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Incoem tax form will be far more simpler from now onwards.
The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity. The notification of the returns followed Budget announcements making income-tax return filing mandatory for certain persons even if their income was below the taxable limit.
Income Tax department have released different tools to help you file your ITR-3 form easily.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Usually, the Income Tax Department notifies the ITR forms in the first week of April of the relevant assessment year. However, in contrast to the old practice, it has notified two ITR forms ITR-1 and ITR-4 for the assessment year 2020-21 in the first week of January.
The income tax department will allow people to file 'belated return' until December 31.
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.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Those spending over Rs 2 lakh on foreign travel, incurring more than Rs 1 lakh electricity bills, or depositing over Rs 1 crore in current account will have to mandatorily file ITR even if their total income is below the taxable limit. The last date for filing has been extended to Nov 30 from Jul 31.
Discrepancies between Form 26AS and Form 16 can lead to an inquiry by the I-T department.
Guide to the new income tax return, ITR, forms Sahaj and Sugam to help you identify which ITR form to pick for filing your tax return in 2011.
Quoting an incorrect PAN during property registration can invite penalties and prosecution.
Prasanna D Zore/Rediff.com reports on the chaos facing taxpayers with the income tax department making changes to ITR 2 and 3 forms just before tax-filing deadline.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
If you have not yet filed an ITR for the 2022-2023 financial year, you can file a belated return.
There has been criticism of the new tax forms with experts and consultants saying government was seeking too much data. They felt that the addition of new information would make the process of filing returns difficult.
