Income Tax

Income Tax Department to Take Action Against Fraudulent Refund Claims Income Tax Department to Take Action Against Fraudulent Refund Claims Filing Income Tax Returns (ITRs) accurately and transparently is a cornerstone of financial compliance. However, many taxpayers unknowingly jeopardize their financial well-being by engaging in fraudulent refund practices, often facilitated by non-professional agents. The Income … Read more

Income tax on cash spending Income tax on cash spending The Indian Income Tax Department has implemented stringent rules to regulate cash transactions and promote a digital economy. These measures aim to curb tax evasion, increase transparency, and ensure compliance with income tax laws. Income tax on cash spending Excessive use of cash can lead … Read more

Types of Income Tax Return (ITR) Notices Types of Income Tax Return (ITR) Notices Filing your Income Tax Return (ITR) is a critical responsibility for every taxpayer. However, even after filing, you may receive a notice from the Income Tax Department for various reasons, such as incomplete information, discrepancies, or further inquiries. Types of Income … Read more

Can Husband and Wife Club Income Tax Liability and File a Single ITR in India? Can Husband and Wife Club Income Tax Liability and File a Single ITR in India? In India, the concept of joint taxation, as seen in countries like the United States, is not recognized under the Income Tax Act, 1961. Can … Read more

How to File Updated ITR-U Returns How to File Updated ITR-U Returns Filing Income Tax Returns (ITR) is a crucial responsibility for all taxpayers. However, there are situations when taxpayers miss the filing deadline or need to correct errors in previously filed returns. To address this, the Income Tax Department introduced the concept of an … Read more