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Filing ITR-2 without reporting capital gains can immediately trigger scrutiny by the Income Tax Department under Section 143(2). Any...

Filing ITR-1 or ITR-2 incorrectly can trigger automatic notices under Section 143(1) of the Income Tax Act. These notices are often...

Section 148 notices often follow errors in ITR-4 filings, signaling that the Income Tax Department believes some income has escaped...

Switching from the old tax regime to the new one can significantly impact overall tax liability, depending on deductions, exemptions, and...

Filing an Income Tax Return (ITR) accurately is crucial for compliance and to prevent unnecessary notices from the Income Tax Department....

Filing taxes efficiently requires a clear understanding of India’s tax framework and the options available to optimize your savings. For...

The new income tax regime in India offers simplified tax slabs with lower rates but removes most traditional exemptions and deductions....

Tax-free allowances are portions of a salary that are exempt from tax under Section 10 of the Income Tax Act, 1961. For salaried...

Section 24B allows taxpayers to claim deductions on interest paid for home loans under the Income Tax Act, reducing taxable income for FY...

Salaried individuals in India can now claim a ₹50,000 standard deduction for FY 2024-25, reducing taxable salary automatically without...