Taxpayers who filed their income tax returns are waiting for refunds post the September 16 deadline. The income tax department processes refunds within 7 to 21 working days, but verification issues ...

The Income Tax Department has activated online filing for ITR-5 and ITR-7 forms, pre-filled with data, on its official website. ITR-5 and ITR-7 forms are meant for specific categories of taxpayers and ...

A father and son sold ancestral land for Rs 13 crore, but the buyer's TDS error led to a tax notice for the father. The ITAT ...

Delays in income tax refund can be expected on account of incorrect details such as wrong IFSC code or closed bank accounts.| Business News ...

It's that time of the year again when many taxpayers sit down to file their income tax returns. One important decision is choosing between the old and new income tax regimes. From FY 2023–24 onwards, ...

The Income Tax Department (I-T) on its official website has enabled the ITR-5 and ITR-7 forms for online filing. Both forms are available with prefilled data, the I-T Department has informed on its ...

The IT department urges taxpayers to verify information on discrepancies and check emails regularly for any notifications if the refunds have not been processed within 4-5 weeks.

Refunds may sometimes get delayed even after the return has been processed, and there are various reasons for this delay.

Taxpayers who missed the deadline get another opportunity to comply by filing a belated return. The Income Tax (I-T) ...

Learn to address crucial Income Tax notices like 143(1), 143(2), 148, 139(9), and 245. Timely, informed action prevents penalties, best judgment assessment, and legal ...

India intensifies crypto tax enforcement as Binance users face scrutiny. Traders must declare offshore crypto income and file ...

Gujarat HC has directed CBDT to ensure that there is a mandatory one-month gap between date for furnishing tax audit reports ...