Income Tax Amendments for streamlining Assessment, Appeals, and Refunds applicable from 1 October 2024
The Finance Act (No. 2), 2024, has introduced significant amendments to the Income Tax Act, 1961, aimed at streamlining various …
taxpayer
How long will it take to get your ITR refund & will you receive interest?
If you have paid more taxes than your actual liability, you can request a refund for the excess amount. The …
Explained: Rs 1 lakh limit per individual for withdrawal of old tax demands
Illustration: Binay Sinha The government has begun getting rid of old outstanding small income tax demands after setting a ceiling …
ITR Deadline Missed? Know late fees, rules, and penalty for late filing
The last date to file an income tax return (ITR) for the FY 2022-23 was July 31, 2023, which has …
100,000 Income Tax notices to be disposed of by March 2024: FM Nirmala Sitharaman
About 100,000 reassessment notices issued by the income-tax (I-T) department in the past years — where the income escaped from …
