Tax season for the Financial Year 2024-25 is in full swing, and many taxpayers — from salaried employees to gig workers and small business owners — are falling for common tax myths that could cost them dearly. Understanding the Income Tax Act, 1961, is crucial to avoid penalties, delayed refunds, and unwanted scrutiny. Don’t Fall … Read more
The 2025 tax season is shaping up to be a challenging one for Non-Resident Indians (NRIs), with the Income Tax Department’s new forms for FY 2024-25 (Assessment Year 2025-26) already released but crucial utilities, like ITR-2, facing delays. Tax experts are sounding the alarm, warning NRIs of potential pitfalls and hefty tax bills if they … Read more
Tax season for FY 2024-25 is underway, and while the Income Tax Department has extended the filing deadline to September 15, 2025 (from July 31, 2025), and opened utilities for ITR-1 and ITR-4, a key question remains for many: Why are ITR-2 and ITR-3 forms still unavailable? Despite the extended deadline, taxpayers who need to … Read more