More than 9.54 lakh people with income of ₹1 crore and above filed their income tax (I-T) returns until October 31, the data on the Income Tax portal revealed. The latest data for the financial year 2024-25 shows that a total of 2.76 lakh individuals in the ₹1-crore club filed their tax returns in October. … Read more
The idea is to use it as a tax book while filing returns. However, instead of easing compliance, it has often increased the burden on taxpayers mostly because details related to equity transactions in the statement are inaccurate. To make matters worse, the onus of fixing the errors lies with the taxpayers. Experts said the … Read more
As the last date to file the income tax return (ITR) looms closer and you have not yet filed the return, it is imperative to first decide the tax regime you plan to opt for. One should file their ITR by July 31 of a financial year to avoid penalties. It is noteworthy to mention … Read more