Credit Card Details in Your Income Tax Return to Avoid Notices Credit Card Details in Your Income Tax Return to Avoid Notices Credit cards offer a convenient way to manage your expenses, but they can also attract unwanted attention from the Income Tax Department if not handled correctly. With increasing focus on high-value transactions and … Read more
Switching from New Tax Regime to Old Tax Regime Switching from New Tax Regime to Old Tax Regime The Finance Act, 2020 introduced a new tax regime in India, giving taxpayers the option to choose between the existing (Old) and the New Tax Regime every financial year. While the New Tax Regime offers lower tax … Read more
Tax Audit Due Date Extended to 7th October 2024 Tax Audit Due Date Extended to 7th October 2024 In a significant move, the Central Board of Direct Taxes (CBDT) has extended the due date for filing the Tax Audit Report for the Assessment Year (AY) 2023-24 to 7th October 2024. This extension brings relief to … Read more
Finance Minister Nirmala Sitharaman Urges Tax Making Tax Communication Easier for Everyone Making Tax Communication Easier for Everyone On August 21, 2024, Finance Minister Nirmala Sitharaman spoke to tax officers about an important issue — the complicated language and tone used in tax notices and letters sent to taxpayers. She asked officers to use simpler … Read more
ITR Filing 2023 24 10 Common Mistakes You Must Avoid ITR Filing 2023 24 10 Common Mistakes You Must Avoid As the Income Tax Return (ITR) filing deadline for 2023-24 approaches, many taxpayers find themselves rushing to meet the deadline. This last-minute rush can lead to unintentional errors that may result in hefty fines, rejection … Read more
