Only a few months are left to file ITR. The new financial year started yesterday i.e. 1st April. From now on, taxpayers can ...

Gujarat High Court held that addition without issuance of any show cause notice or the draft assessment order is not sustainable since the same is blatant violation of the mandatory procedure ...

Madras High Court held that re-opening of assessment u/s. 147 must be based on some tangible material without such tangible material, re-opening is merely inspired from change of opinion and hence the ...

When combining companies, firms, trusts, HUFs, government, and local bodies, the number of people earning more than one crore ...

A total of 3.89 lakh taxpayers including all categories filed their returns for income of ₹one crore and above ...

Senior citizens, defined as those over 60, can enjoy a basic exemption limit of Rs 3 lakh under the Income-Tax Act, 1961, ...

Currently, there are 7 forms notified by the department - ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-7. It is crucial ...

Taxpayers must select an ITR form and file their returns according to their total income, the nature of their income, and ...

ITR is mandatory for those individuals whose annual taxable income is more than the basic exemption limit. Under the Old Tax ...

The Income Tax Department has introduced a new Excel-based utility for ITR-2 which was launched on March 25, 2025.

ITR-2 is meant for individuals whose annual income is above Rs 50 lakh or who earn from sources like rent, capital gains, or ...

Gain essential insights into continuous tax controls by joining ITR and Thomson Reuters on April 30 in the first webinar of a ...