As the income tax return (ITR) deadline for FY 2024-25 (Assessment Year 2025-26) approaches, many taxpayers are asking whether ITR submission is necessary if their annual income is less than ₹2.5 lakh ...

Filing taxes can be a complicated process, especially for entities that fall outside the common categories of individual taxpayers. One such form that caters to these unique entities is the ITR-5 form ...

The Income Tax Department has enabled online filing of ITR-5 and ITR-7 forms for Assessment Year (AY) 2025–26. Both forms are now available on the official e-filing portal with pre-filled data to make ...

India's new Income Tax Act, 2025, effective April 1, 2026, aims to simplify tax rules and enhance compliance. Key changes include the introduction of a 'Tax Year,' more detailed ITR disclosures, and a ...