IT department updates the income tax return forms 2 and 5 again

The income tax department has recently made further changes to the income…

Is the extra Rs 1.5 lakh deduction for home loan announced in Budget 2019 useful?

Mr Ravi wanted to purchase a house property worth Rs 45 lakh…

FinMin: Task force for direct tax code is all set to submit report by July 31

Finance Minister, Nirmala Sitharaman, said that the work on direct tax code…

Due date to file income tax returns extended to 31 August 2019

The income tax department has extended the due date for filing income…

How to fill income from other sources in new ITR-1 form

The Income Tax Department has recently amended the ITR forms applicable for…

CBDT introduced new changes to Form 16 for FY 2018-19

The tax-filing season is here and it is time for you to…

Key Changes to ITR-1 & ITR-2 for FY 2018-19

The new Income Tax Return (ITR) forms for AY 2019-20 have been…

IT Raises Tax Rebate instead of Exemption Limit

The income tax department raised the rebate available under section 87A to…

Complete salary break-up asked in new ITR-2 return form

The Income Tax Department (ITD) has recently released ITR 2 excel utility…

If you are a resident taxpayer, report all your foreign assets in ITR

Taxability of income in India depends on the residential status of the…