If a taxpayer has paid excess tax in any assessment year, they are entitled to get a refund of the extra amount under Section 237 of the Income Tax Act. The claim for refund was made in Income Tax Form 30 until August 31, 2019, and verified in the prescribed manner. However, with the advent…
As the income tax return (ITR) filing season is going on, taxpayers have either filed their ITR or are preparing documents to do it. To file the ITR for FY 2024-25, only 45 days are left, as the last date is September 15. However, there is are chances that you might have made a mistake…
As the income tax filing season for FY 2024–25 gains momentum, here’s an interesting twist: there’s one Indian state where select residents can earn crores of rupees without paying a single rupee in income tax. That state is Sikkim—India’s only income tax-free state under special constitutional protection. Sikkim: India’s only income tax-free state In a…
When a taxpayer files their income tax return (ITR), they face different issues. One of the common issues is the Annual Information Statement (AIS). And this is not new; every year, taxpayers face some errors while filing their ITR. But, don’t worry, if you are getting an AISÂ error, the Income Tax (I-T) Department has issued…
With the due date for filing income tax return (ITR) approaching, taxpayers are in a state of confusion regarding the rebate under Section 87A of the Income Tax Act. One of the main reasons for this is the last budget 2025 announcement, which had sought to raise the rebate to Rs 60,000. But, it does…
The Central Board of Direct Taxes (CBDT) has extended the last date for salaried individuals to September 30, 2025, from July 31, 2025. The extension is given due to a delay in the ITR forms and e-filing utilities on the portal of the Income Tax Department. Many taxpayers also faced issues with the forms 26AS…