Resident taxpayers must report foreign assets in Schedule FA, disclose overseas income, and file Form 67 to claim Foreign Tax ...

The income tax department has mandated a secondary address field in all ITR forms for AY 2026-27, requiring additional ...

Filing your income tax returns can be a tough task for first-time taxpayers and salaried individuals alike. Here's a stepwise ...

Form 168, notified under Rule 245 of the Income Tax Rules, 2026, is a comprehensive annual tax information statement reflecting all tax-related and specified financial transactions linked to a ...

Matching AIS and Form 26AS may not prevent a tax notice. Wrong income details, excess deductions, large transactions or TDS ...

Even if your Form 16 shows zero tax payable due to the Section 87A rebate, filing an Income Tax Return (ITR) might still be mandatory. Certain income levels, high-value transactions like significant ...

Many taxpayers assume that long-term capital gains (LTCG) below the ₹1.25 lakh exemption limit need not be reported in their ...

If you want to carry forward your losses from mutual funds, shares, or property sales, then you need to file ITR before the deadline. This will help you reduce future tax liability. Thinking of filing ...

ITR-1 is meant for resident individuals with a total income of up to Rs 50 lakh from salary, one house property and other ...

Last year, taxpayers were given extra time as the Income Tax Department released the ITR forms and filing utilities late, ...

A foreign retirement account is treated as a foreign asset. Even if it earned no income during the financial year, taxpayers ...

Iran-backed Yemeni group, the Houthis, have threatened a maritime blockade on Saudi Arabia. What this essentially means is that Saudi Arabia’s crude oil exports are set to be hit. And India which gets ...