Income Tax

Introduction Income tax terminology can confuse taxpayers, especially when they miss the ITR deadline or discover a mistake after filing their return. However, deciding between a belated return and a revised return is easier than it appears. You only need to answer one basic question: Have you already filed an income tax return for the […]

Introduction Taxpayers sometimes forget to report interest income, capital gains, dividends, freelance receipts or other taxable income in their Income Tax Return. In other cases, they may miss both the original and belated return filing deadlines. Fortunately, the Income Tax Act allows eligible taxpayers to correct such omissions by filing an Updated Income Tax Return, […]

When you sell a house, plot, commercial property, agricultural land, jewellery, shares, or another capital asset at a profit, you may have to pay capital gains tax. However, the income tax law allows taxpayers to reduce or even save this tax by reinvesting the capital gain or sale proceeds in specified assets. Therefore, proper tax […]

Introduction Income Tax Return filing becomes easier when you know your correct due date in advance. However, the filing deadline does not remain the same for every taxpayer. Your deadline depends on your income sources, applicable ITR form, audit requirement and whether transfer-pricing provisions apply to you. For income earned during Financial Year 2025–26, taxpayers […]

Living abroad does not always end your tax responsibilities in India. Many Non-Resident Indians continue to earn income from Indian sources, such as rent from property, interest from NRO bank accounts, dividends, pensions, business activities, or capital gains from the sale of shares, mutual funds, land, or buildings. Such income may still be taxable in […]