Owning a home is a major milestone and financial goal for many Indians. To promote home ownership and make housing more affordable, the Income Tax Act provides multiple tax benefits on home loans and residential properties. These deductions can significantly reduce your taxable income when claimed correctly while filing your Income Tax Return (ITR). Whether … Read more
Filing your Income Tax Return (ITR) on time is a critical responsibility for every taxpayer in India. Missing the deadline can result in penalties, interest on unpaid taxes, and restrictions on claiming certain benefits. Late filing also delays refunds and can invite scrutiny from the Income Tax Department. This guide explains the penalties for late … Read more
Filing your Income Tax Return (ITR) is an important annual financial activity for every taxpayer in India. After filing, many taxpayers anticipate a refund, especially if excess tax has been paid during the year. Thankfully, the Income Tax Department provides online facilities to track the status of your ITR refund. Checking your refund status ensures … Read more
Filing an Income Tax Return (ITR) is one of the most crucial financial responsibilities for taxpayers in India. It is not just a legal obligation but also a gateway to claiming refunds, avoiding penalties, and maintaining a documented financial record. With the digital initiatives of the Income Tax Department, the process has become faster, simpler, … Read more