Income Tax Return
Latest news, explainers and analysis on Income Tax Return. Tracking 6 stories on Arth Vani.
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Latest on Income Tax Return
BreakingITAT Rulings: Unreported Foreign Accounts Can Lead to Black Money Act Action
Recent Income Tax Appellate Tribunal (ITAT) rulings highlight that failing to disclose foreign bank accounts in Income Tax Returns (ITRs) can trigger proceedings under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. This underscores the importance of accurate and complete disclosure of all overseas financial interests.
Breaking50,000 Swiggy Partners Claim ₹6.5 Crore ITR Refunds Using App
Over 50,000 Swiggy delivery partners have successfully used a digital application to file their Income Tax Returns (ITRs), collectively securing tax refunds amounting to ₹6.5 crore. This development highlights the growing adoption of fintech tools by gig economy workers to streamline their tax compliance and claim legitimate refunds.
BreakingITR Filing 2024-25: Why Choosing the Wrong Form Could Lead to an Income Tax Notice
Salaried individuals often default to ITR-1, but changes in income sources or job switches can make this form invalid. Experts warn that selecting the wrong form can result in defective return notices from the Income Tax Department.
BreakingFiled ITR Early? Recheck 7 Key Details Before July 31 Deadline to Avoid Errors
Taxpayers who filed their Income Tax Return (ITR) in May or June are advised to re-examine their submissions before the July 31 deadline. This proactive check can prevent common errors, ensure accurate refunds, and avoid potential notices from the tax department.
BreakingITR Filing Deadline July 31: Avoid These 5 Common Mistakes to Prevent Tax Notices
With the Income Tax Return (ITR) filing deadline of July 31 fast approaching, taxpayers must ensure accuracy to avoid penalties and legal notices. Common errors like mismatched income data and incorrect bank details can lead to delayed refunds or additional tax demands.
BreakingITR Filing: FM Sitharaman Directs Tax Officials to Allow Corrections for Genuine Mistakes
Finance Minister Nirmala Sitharaman has instructed the Income Tax Department to support honest taxpayers by allowing them to rectify genuine errors. Ahead of the July 31 deadline, the FM emphasized a shift toward 'responsive governance' to reduce litigation and increase tax certainty.
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