The income tax department has not yet notified the income tax return forms. As the one month is about to pass, will the late ...

Partners in firms (except those earning only salary or interest from the firm) ...

The Central Board of Direct Taxes (CBDT) has notified the income tax return forms ITR-1 and ITR-4 for the financial year 2024 ...

On top of the higher tax rate, the department can levy penalties under Section 270A and Section 271AAC. These are calculated on the additional tax assessed: Under Section 270A (for under-reporting or ...

ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers ...

The CBDT has directed income-tax officials to “closely” monitor top advance tax payers and identify bogus claims of exemptions and deductions as part of the strategy to improve direct tax collections ...

Mothers losing thousands of dollars from their tax refunds to pay debts for instruction they say their children barely used ...

In recent years, India has witnessed a troubling trend of surveillance infrastructure expansion, often under the guise of welfare, good governance, security and ...

Under I-T law, LTCGs of up to Rs 1.25 lakh from the sale of listed shares and mutual funds are exempt from tax. Gains ...

Insult to injury; lack of progress; gone fishing; and other highlights of recent tax cases.

Montgomery County budget analysts are warning that the amount of potential revenue raised from increasing income taxes could ...

The Central Board of Direct Taxes (CBDT) has released Notification No. 42/2025, dated May 1, 2025, announcing the updated Income Tax Return (ITR) Form 5 for the Assessment Year 2025-26.