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Late filing fee: Under Section 234F, a late fee of up to Rs 5,000 may be levied for belated ITRs (ITR filed after original ...
A belated return is simply an ITR filed after the official deadline. By law, such returns can be filed up to three months ...
The Income Tax Act provides taxpayers the choice of making a selection between the old and new regimes, yet the selection ...
When filing an Income Tax Return (ITR), taxpayers are generally perplexed among exemptions, deductions, and rebates. Though all three reduce your tax outgo, they operate distinctively under the Income ...
The Income Tax Department clarified on Monday that deadline for filing income tax returns or ITRs is September 15, 2025.
Taxpayers who opted for the Old Tax Regime (OTR) for FY2024-25 and claimed exemptions like HRA and Section 80C through their ...
The IRS on Friday released a draft of Schedule 1-A (Form 1040), a single form that consolidates the calculations of the four ...