Filing an income tax return can be a simple process, and sometimes mistakes happen. Whether it’s a typo, missed deduction, or incorrect income details, you can correct these errors by revise your income tax return. This guide will explain how to revise your Income Tax Return. What is a Revised Income Tax Return? A revised […]
How to revise your Income Tax Return: Section 139(5) Read More »
Worried about the late fees for filing taxes? Before the deadline, file your Income tax return with 24eFiling. Filing your income tax return (ITR) on time is crucial to avoid legal issues as well as penalties. However, if you miss the deadline, you could face several consequences. But you can pay a penalty for late
Penalty for late filing of Income Tax Return for FY 2023-24 Read More »
Filing an Income Tax Return (ITR) is a crucial responsibility for taxpayers. But who is required to file ITR? Understanding the criteria and the process can help you stay compliant with tax laws and avoid penalties. In this guide, we will explain who is required to file ITR in India! What is Income Tax Return?
Who is required to file ITR in India (FY2023-24)? Read More »
The ITR-5 form is an Income Tax Return form used by certain entities in India to file their income tax returns. This blog will walk you through all the essential details about what is ITR-5 form, its applicability, how to file it, and the important deadlines you need to keep in mind. This form is
What is ITR-5 form: Structure and how to file ITR-5 Read More »
Income tax assessment is a crucial process where the tax department evaluates and verifies the taxpayer’s income and tax liabilities. There are various types of assessments in Income Tax conducted under the Income Tax Act, each serving specific purposes. Let’s go through the various types of assessments in income tax. What is Income Tax? Income
Various types of assessments in Income Tax Read More »
Income Tax Return efiling is the practice of utilizing the internet to electronically file an Income Tax Return (ITR) is known as efiling. By exercising the new income tax portal, individuals can take advantage of a range of features aimed at simplifying the tax filing process. The Income Tax Department provides the facility for efiling
Income Tax Return efiling for FY2023-24 Read More »
Filing a business income tax return is a comprehensive process that involves documenting a company’s financial activities over the fiscal year. This article lays down the essentials of Business Income Tax Returns (ITR), focusing on the requirements and benefits specific to different business structures in India. Latest Update:The recent update on business income tax return
Business Income Tax Returns filing: Business Tax returns Read More »
Are you a Non-Resident Indian (NRI) with income sources back home in India? Whether you’re receiving rental income from a property, interest on investments, or capital gains, understanding your tax obligations is crucial. This blog is your one-stop guide to navigating the process of filing NRI Income Tax Returns in India. In this blog, we’ll
How to file an NRI Income Tax Return in India? Read More »
Filing income tax returns is a vital duty for every taxpayer. However, understanding which form to use can be challenging. Two frequently used forms are ITR-1 and ITR-2. As a taxpayer, understanding the difference between ITR-1 and ITR-2 is crucial. Let’s break it down in simple terms. The deadline for filing income tax returns for FY 2023-24
Difference between ITR-1 and ITR-2: ITR-1 vs ITR-2 Read More »
Tax season is here, and for salaried employees in India, navigating the different Income Tax Returns (ITR) forms can feel overwhelming. But worry not! This guide will you understand the concepts behind income tax returns for salaried employees. We’ll understand the factors that determine the right form and clarify the differences between ITR-1 and ITR-2.
Income Tax Returns for Salaried Employee: Salaried Income Read More »
