In case you are opting for the old tax regime, under Section 80C you can claim up to Rs 1.5 lakh of deductions every year.

T department has officially released simplified Income Tax Return (ITR) forms 1 and 4 for the assessment year (AY) 2025-26.

As taxpayers get ready to file their returns, it is crucial to understand the key sections of the Income Tax Act, 1961, that ...

The Central Board of Direct Taxes is updating income tax return forms. This aims to address income underreporting. The new ...

It is necessary to understand the various forms of ITR as filing income tax returns (ITRs) can be a daunting task if you are not aware of the right form for your income type.

As part of ongoing reforms, Form 16 is being enhanced to offer greater transparency. The revised version will now offer ...

From new disclosures related to deductions and the new tax regime to improved clarity in reporting income sources, these ...

Form 16 is a key document for salaried individuals, summarising income and TDS, simplifying ITR filing, and serving as proof ...

Expanded Eligibility for Simplified ITR Forms For AY 2025–26 ... If an employee is claiming exemption for House Rent Allowance (HRA) under section 10(13A), he is not allowed to claim deduction ...

Tax Partner at Nangia Andersen LLP said so far salaried individuals having income under the head capital gains were required to file form ITR-2 even where the capital gains were exempt by virtue ...