When a taxpayer discovers any error or wrong statement in filing the original Income Tax Return (ITR) submitted earlier. The ...
Some of the common errors include reduced or exaggerated income, claiming excess deductions or exemptions, missing out on ...
I-T Department's deadline given to people for filing their revised ITRs is in focus now. However, some refunds filed have ...
The IT department has issued a host of guidance for taxpayers to rectify any mistakes, revise returns, or file their belated ITR. It needs to be noted that your refund could be stuck if you do not ...
As the income tax return (ITR) deadline for FY 2024-25 (Assessment Year 2025-26) approaches, many taxpayers are asking whether ITR submission is necessary if their annual income is less than ₹2.5 lakh ...
With the December 31 deadline fast approaching, many taxpayers are unsure whether they need to file a revised or a belated ...
The risk management alert is a cautionary prompt, not a notice. Taxpayers need revised ITRs only if mismatches exist. Those with correct claims can wait as refunds resume after verification.
If your ITR does not get processed by 31 December 2026, or within the relevant deadline for previous assessment years, the ...
People who are looking to file their ITRs for the financial year ended 2024-25 or the assessment year 2025-26 will have to ...
For individuals without business income, the choice between the old tax regime and the new tax regime can be exercised each year, depending on which regime results in lower tax liability. However, ...