Tag: income

If you’re a salaried employee in India, your April paycheck might be a little heavier than usual. The Union Budget 2025-26 has introduced significant changes to the income tax framework,…

Income tax return filing for the Assessment Year 2025–26 is expected to commence next week, following the recent notification of ITR-1 and ITR-4 forms. With the July 31 deadline fast…

Life Insurance Corporation of India (LIC) Receives Rs 25,464 Crore Income Tax Refund Life Insurance Corporation of India (LIC) announced that it has received a substantial income tax refund totaling…

Government-Recognized Startups: 2,975 Granted Income Tax Exemptions A senior official from the Department for Promotion of Industry and Internal Trade (DPIIT) revealed that up to 2,975 government-recognized startups have been…

Budget 2024 Expectations: Standard Deduction and Income Tax Relief Salaried individuals await the Interim Budget 2024 with bated breath, hoping for some respite in income tax. However, expectations of an…

Budget 2024 Expectations: Anticipated Income Tax Reforms The union budget for 2024, anticipated to be revealed in February 2024, will serve as an interim budget ahead of the impending general…

Income Tax Department Sets Ceiling for Small Tax Demands Withdrawal The Income Tax department has prescribed a ceiling of Rs 1 lakh per assessee for withdrawal of small tax demands…

Income Tax Department Identifies Mismatches The Income Tax Department has discovered disparities between third-party information regarding interest and dividend income and the Income Tax Returns (ITR) filed by taxpayers, as…

Income Tax Department Alerts Taxpayers About Mismatch in ITR Details for AY 2021-22 The income tax department is currently reaching out to taxpayers regarding any discrepancies found in the information…

Income Tax Department’s Tax Calendar: March 2024 Deadlines The tax calendar provided by the Income Tax Department (IT department) outlines crucial deadlines concerning taxes, including the submission of income tax…