Taxpayers must select the appropriate Income Tax Return (ITR) form according to their financial profile and sources of income once the ITR filing season begins for Assessment Year (AY) 2025–2026. When ...
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Owning two houses but no rental income: Can you still file ITR-1, or is ITR-2 mandatory?
Hi, my father owns two properties but earns no rental income from either. He has no stock or mutual fund investments and meets all other eligibility criteria for ITR-1. I’m unsure whether owning ...
If implemented it will lead to reduced compliance burden, lower cost of tax filing, and significant savings in time and ...
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Income Tax Act 2025: 5 things that will change for taxpayers when new laws replace old rules
India's new Income Tax Act, 2025, effective April 1, 2026, aims to simplify tax rules and enhance compliance. Key changes include the introduction of a 'Tax Year,' more detailed ITR disclosures, and a ...
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