The Income Tax Department can send you a notice due to wrong information or incomplete information in the ITR, but if you ...

ITR-U: Requires paying additional tax (25–50% of dues, depending on filing timeline). No separate penalties, but interest may ...

Unsure whether to opt for the new or old tax regime while filing your ITR? Your decision should be based on factors like ...

Income Tax Updated Return (ITR-U): Taxpayers need to file an updated income tax return (ITR-U) for Assessment Year (AY) 2021-22 (Financial Year 2020-21). This filing allows taxpayers to rectify ...

From UAN activation to Updated ITR filing, several important personal finance deadlines are approaching in March, 2025. Read ...

The Income Tax Act provision allows the tax payers to update or file their Income tax returns on payment of additional tax. It is issued in the object of providing an opportunity for voluntary ...

All depends on how the ITR utility is configured," said Balwant ... can be made only before the due date of filing the return u/s 139(1) of I-T Act," the Income-tax department says on its website.

To avail of this benefit, taxpayers simply need to file their Income Tax Return (ITR) as usual — no additional steps are required. Previously, individuals earning Rs 12 lakh per year would ...