Income tax refunds are significantly delayed this assessment year, with processing times extended even for routine cases.

Explains why returns get shifted to the Old Regime due to missed deadlines or form errors and outlines when rectification is ...

The CBDT includes “or extended” in the July ITR Form for non-audit individuals due to frequent deadline extensions, while keeping October deadlines fixed for audit-related ...

The Income Tax department has warned taxpayers who have not disclosed their foreign income and overseas assets to revise ...

Taxpayers can now claim new tax regime benefits even if Form 10IC is filed late. The ITAT Mumbai ruled that technical errors ...

CBDT sent messages and emails starting 28 November to taxpayers, urging them to revise their income tax returns (ITRs) before ...

Car buyers purchasing vehicles above ₹10 lakh can reclaim 1% Tax Collected at Source (TCS) deposited by dealers. This amount, ...

Under income tax rules, when you buy a motor vehicle worth more than Rs 10 lakh, the seller is required to collect TCS at 1% ...

Tax refund delays can often stem from mistakes made by taxpayers. Make sure to double-check your Income Tax Return (ITR) ...

If a tour operator fails to deposit the TCS and the credit consequently does not appear in Form 26AS, the situation becomes ...

With multiple tax compliances due this month, December demands careful attention from individuals and businesses alike. These ...