Many taxpayers are receiving income tax notices after filing their recent Income Tax Return (ITR), mentioning non-disclosure of foreign assets or foreign income.If you’ve received such a notice, the first thing…
If you’ve received a notice asking you to disclose foreign assets or correct your return, don’t worry. The Income Tax Department usually allows you to fix the mistake by filing a revised return or submitting correct…
Each year, many salaried individuals, freelancers, small business owners, and even senior citizens receive an income tax refund after filing their ITR. This refund is primarily due to excess TDS…
Starting April 22, 2025, the Income Tax Department has implemented a new tax compliance measure: 1% TCS (Tax Collected at Source) is now applicable on luxury goods priced above ₹10…