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For FY 2023-24 due date to file revised ITR is 31st December 2024.
In July 2024, the UPI transactions have processed over Rs 20.64 Lakh Crore for Third Consecutive Month.
Sikkim state became tax-free during its merger with India in 1975, when it became the 22nd state of India.
Long-term capital gains tax rate will be 12.5% for all assets.
In Budget 2024, FM has simplified the provisions for reopening and reassessment to reduce tax uncertainty and disputes, providing relief to taxpayers.
Income tax slabs are the categories of income levels that determine the rate at which income tax is charged for the applicable financial year (FY) and assessment year (AY).
Filing an income tax return requires a careful and detailed process. But despite of our best efforts, mistakes happen.
Suggestion to permanently change the deadline has been given by the taxpayers as they are facing difficulty in accessing Form 26AS and AIS. Due to technical issues on the Income Tax Portal, there is an increasing demand to extend the ITR filing deadline from July 31, 2024, to August 31, 2024.
Recent change in ITR utility for rebate u/s 87A has caused confusion and concerns among taxpayers and professionals.
A man in Delhi claimed about paying a large fee to a chartered accountant for a minor tax dispute. He paid Rs 50,000 to a CA for resolving a tax notice where the disputed amount was only Re 1.
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