Another important aspect of filing ITR is that it helps in carrying forward losses incurred in the stock market or business.

3. ITR-3 can be used by individuals or Hindu Undivided Families who have their income under the head “profits or gains of business or profession” and who are not eligible to file Form ITR-1 ...

To benefit from this change, individuals only need to file their Income Tax Return (ITR) — no additional steps are necessary. Previously, someone earning Rs 12 lakh per year would typically pay ...

For an individual taxpayer, the due date for filing income tax return is July 31 of the subsequent year. So, the due date for filing income tax returns for the financial year 2024-25 is July 31 ...

If taxpayers file their return late, they will be charged interest under section 234A. ITR Filing 2023 Latest ... Read more on Latest Business News on India.com. After Mukesh Ambani, now Amazon ...

But are you confused as to where to start? Does the stack of documents needed to file your ITR seem too long? Well, we’ve got you covered. But first off, why do you even need to file an ITR?

ITR filing: Taxpayers who missed the deadline to file their belated or revised Income Tax Return (ITR) for the financial year 2024-25 in July 2024 were given a second opportunity to do so on ...

MUST check in ITR filing: Taxpayers must be aware that these cash transactions may lead to a 100% income tax penalty(Pixabay) MUST check in ITR filing: Tax sleuths ...

If you somehow failed to file your income tax return (ITR) for any of the past two years, you can still file an updated income tax return. These two years are 2021-22 (AY 2022-23) and 2022-23 (AY ...

Legal notices: The Tax Department collects income statements from various sources. Failure to file ITR may trigger reports based on undeclared income. Carry forward losses: Filing before the ...

ITR Filing Deadline, January 15, 2025: Failure can lead to a loss of opportunity to file or revise your return for AY 2024-25 and additional penalties. ITR Filing Deadline, January 15, 2025 ...

The last date to file tax return for AY 2024-25 ended on July 31, 2024 and the deadline for belated and revised ITR filing was December 31, 2024. “The Central Board of Direct Taxes (‘the CBDT ...