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

It is important to note that this zero tax liability only pertains to the new tax regime that has been in place as the ...

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

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

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

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

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 Finance Ministry has clarified that this zero tax liability applies only to the new tax regime, which has been the ...

Introduced in April 2022, this provision in the Income Tax Act allows taxpayers to report income by paying additional tax on ...

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