Car buyers purchasing vehicles above ₹10 lakh can reclaim 1% Tax Collected at Source (TCS) deposited by dealers. This amount, ...
Submit response with supporting proof such as challans, Form 16, etc.
Explore the significant delays in income tax refunds for FY 2024-25, their causes, including AIS mismatches and processing ...
In case of a genuine hardship, the taxpayer can file a condonation request under section 119(2)(b). If condonation request is ...
Refunds are generally credited within four to five weeks after e-verification. If the money does not arrive within that ...
The delay is mainly due to high-value ITR filing, which the department is carefully scrutinizing to avoid any mishap. That ...
The CBDT has also advised taxpayers to file a revised ITR in case they had made possible errors in their filing ...
Breaks down Section 234F penalties, 1% monthly interest, and the hidden loss of tax benefits that arise when returns are ...
Revised returns serve as a safety net for correcting inaccuracies in original or belated returns, such as omitted income, ...
CBDT will be sending SMSs and emails to taxpayers who’ve been identified as not disclosing foreign income and assets in the ...
Explains how taxpayers can fix common ITR errors through revised returns and portal corrections. Key takeaway: Most mistakes are easily rectifiable within the assessment ...
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