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A revised return allows a taxpayer to rectify the error or omission of facts made at the time of filing the original ITR. Steps to revise a return (origi...
Thu, 5 Jan, 2023 at 6:04 PM
The Finance Ministry introduced the ‘New Tax Regime’ in the Finance Act 2020. So, a taxpayer can now choose to file taxes either under the Old Regime or t...
Wed, 24 Aug, 2022 at 2:52 PM
Filing an ITR is mandatory for a person who is otherwise not required to file the return if the person has undertaken the following high-value transactions ...
Wed, 24 Aug, 2022 at 1:22 PM
Set-off and carry-forward are concepts that help us grasp how flexible the tax system is. Losses incurred in a particular financial year need to be decl...
Wed, 24 Aug, 2022 at 1:23 PM
If you have been a director/ shareholder of an unlisted company, then you are required to report the same in your Income Tax Return. Steps to report ...
Wed, 24 Aug, 2022 at 1:23 PM
A Belated Return u/s 139(4) is the return filed after the due date. The due date to voluntarily file your ITR (for individuals to whom audit is not applic...
Thu, 5 Jan, 2023 at 6:13 PM