Currently, for FY 2024-25, individuals earning above Rs 3 lakh but below Rs 7 lakh in the new regime, and above Rs 2.5 lakh but below Rs 5 lakh in the old regime, must file ITRs to claim Section ...

Indore (Madhya Pradesh): “A penalty of Rs 500 per day will be imposed if TDS returns are not filed. Earlier, the penalty was anywhere between Rs 10,000 and Rs 1 lakh,” said income tax matters ...

Finance Minister Nirmala Sitharaman recently announced a significant relief for middle-class taxpayers by increasing the threshold for zero income tax liability after a rebate in the new tax regime.

TIL Creatives The Income Tax Department clarified that taxpayers will be eligible for a refund if it is due to them, even if they file their ITRs after the due date. For most individual taxpayers, the ...