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Income Tax Return News

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RBI Chief praises budget: Tax relief won't inflate prices, says Sanjay Malhotra

RBI Governor Sanjay Malhotra praises the Union Budget for FY26, asserting that tax relief for the middle class will not significantly impact inflation while supporting economic growth....
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Income Tax Return: What will happen if you miss filing by July 31?

To mitigate the issues, you can file your returns as soon as possible before the deadline ends. However, there is also an option to file a late return under Section 139(4) before March 31, 2025, but it may come with additional penalties and limitations....
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ITR filing: Claim your HRA exemption, here are lists of required documents

As a salaried employee, your employer may require you to complete an Employee Declaration Form to claim the HRA exemption. This form typically requests details about the rented accommodation, including the rent amount paid to process your HRA exemption claim....
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Govt plans tax rate cut to boost demand; Know how will it work?

As per officials, increasing consumption is thought to be essential for recovering demand, which is essential for resuming the investment cycle and, in particular, for igniting private capital spending in industries that cater to consumers, which may help in increasing GST collec...
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'More money to govt than spending on yourself,' Viral post on income tax issues sparks online debate

The trending post on X sparks discussion among users. Continue reading to uncover the complete narrative. ...
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New PAN Card fraud alert! Are you being financially duped without knowledge?

The alarming discovery unfolded when authorities stumbled upon rent receipts totaling around Rs 1 crore linked to a single individual....
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HRA tax exemption: Understanding rent receipts and agreements – all FAQs answered

Here’s deciphering the essentials of HRA tax exemption, TopIndianNews’ comprehensive guide to understand the nuances of House Rent Allowance. ...
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Govt releases income tax return form 1, 4 for assessment year 2024-25

Taxpayers who are eligible to file for ITR-4 will also have to opt out of the new regime, if they don’t want that to be included because the new tax...

Last date to file ITR. Here’s what happens if you miss it

Today is the last day to submit income tax returns (ITS) for the financial year 2023–24. According to the latest updates by the income tax depart...

Early Release Of ITR Forms To Permit Filing Of Returns Beginning April 1: CBDT

The Central Board for Direct Taxes (CBDT) had notified the Income Tax department on Wednesday said the ITR forms for 2022-23 will come into effect ...

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