Articles by Mitali

Suggestion to Permanently Change ITR Filing Due Date to 31st August

Mitali 22 July 2024 at 11:54

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.

New Changes in Section 87A Rebate Post-July 2024

Mitali 17 July 2024 at 17:22

Recent change in ITR utility for rebate u/s 87A has caused confusion and concerns among taxpayers and professionals.

Netizens Shocked as Man Pays Rs 50,000 to Resolve Rupee 1 Income Tax Issue

Mitali 11 July 2024 at 11:36

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.

FAQs on New Vs Old Tax Regime For AY 2024-25

Mitali 08 July 2024 at 15:16

The Finance Act 2023 has amended the provisions of Section 115BAC w.e.f. AY 2024-25 to make the new tax regime the default tax regime for the assessees being individuals, HUF, AOP (not being cooperative societies), BOI, or artificial judicial persons.

My income is below the basic exemption limit. Should I file a Nil Return?

Mitali 25 June 2024 at 11:58

NIL Return means when an individual filed Income Tax Return which is below the threshold limit. While it not so mandatory if you have no taxable income for the year. But it can be beneficial for record-keeping and other administrative purposes.

How will be Budget 2024: Will it transform India's Economy?

Mitali 11 June 2024 at 15:58

The exact date for the upcoming Union Budget 2024 is not yet known. Typically, in general election years, the full-year budget is presented in the first or second week of July.

Action Plan for Employee: When Employer Fails to Credit EPF Contributions

Mitali 08 June 2024 at 12:54

If your employer fails to credit the deducted PF amount to your account, you can file a complaint with the EPFO.

Big Update - New IRDAI Rules Released To Ensure Faster Health Insurance Claims

Mitali 31 May 2024 at 13:56

IRDAI Mandates insurers to provide immediate claim settlement in various cases. check out when to provide this immediate claim settlement?

Big reminder from Income Tax department

Mitali 29 May 2024 at 17:40

Income Tax Department has issued reminder for taxpayers and the same has also been shared on X (formerly Twitter).

Do you know the UPI Transaction Limit for FY 24-25

Mitali 23 May 2024 at 17:41

UPI transaction limit is ranging from Rs. 25,000 to Rs. 1 lakh. Payments related to educational institutions and healthcare, limits has been increased. Know here the full UPI Transaction Limit for FY 23-24