The Budget 2025 has raised the threshold of rebate available under Section 87A from Rs 25,000 to Rs 60,000. The basic income ...

Union Budget 2025 has proposed to extend updated return filing period to 48 months; understand the rules, benefits, and ...

To streamline the law, the new bill reduces the number of pages from 823 to 622, removing redundant provisos and explanations ...

The deadline for filing income tax is a critical factor in tax compliance for all taxpayers. Presently, there are varying ...

Now taxpayers have a longer timeframe of up to 48 months to file an updated income tax return which was 2 years earlier. The ...

The push for modernising the Income Tax Rules reflects its broader goal of creating a tax system that is not only more ...

Introduced in Budget 2022, the ITR-U or Updated Income Tax Return is the form that allows you to rectify errors or omissions ...

An updated return, filed under Section 139 (8A), allows taxpayers to amend missed or incorrect income declarations. It can be ...

Many taxpayers want the permanent extension of ITR filing deadlines to get more time to meet the compliance laws. The ...

Picking the correct Income Tax Return form is key. Salaried folks making up to ₹50 lakh a year can use ITR-1. This includes ...