Tax Articles

News Update The Income Tax Department has launched its new e-filing website on the 7th of June, 2021. This new portal will soon replace the existing portal www.incometaxindiaefiling.gov.in. With the main focus on a user-friendly e-filing experience for the taxpayers,...

The Income Tax Department has launched its new e-filing website on the 7th of June, 2021. This new portal will soon replace the existing portal www.incometaxindiaefiling.gov.in. With the main focus on a user-friendly e-filing experience for the taxpayers, the new...

Who can file ITR 4 Sugam? ITR 4 Sugam is applicable to resident Individuals, HUF, and a Firm (other than LLP). Additionally, total income for the assessment year 2023-24 is less than Rs.50 lakh along with income under the following...

ITR 3 is applicable to individuals and HUFs who have earned income from business or profession during the assessment year. You can file ITR 3 either by preparing online or through the excel utility available on the e-filing portal. This...

The applicability of ITR 2 depends on the category of the taxpayer and the source of income. ITR 2 is applicable only to individuals and HUFs who do not have any income from business or profession. You can file ITR...

ITR 1, also known as Sahaj Form is applicable to taxpayers who have earned less than Rs 50 lakh in the financial year. The income tax department categorizes the taxpayers on the basis of the total income and type of...

The Income Tax Department has launched its new e-filing website on the 7th of June, 2021. This new portal will soon replace the existing portal www.incometaxindiaefiling.gov.in. The new portal is user-friendly and focuses on making the entire e-filing experience easy,...

Budget Feb 1, 2023 (Income tax slab updates) 1) Income tax exemption limit increased from Rs 2.5 lakh to Rs 3 lakh 2) Tax Rebate under section 87A increased from Rs 5 lakh to Rs 7 lakh 3) Going forward,...