# itr filing
12 posts in `itr filing` tag
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Income Tax Department Update: Revised ITR Forms to Enable the 87A Tax Rebate for FY 2023–2024
An amendment from the Income Tax Department permits taxpayers to file amended or late ITRs in order to receive the 87A tax refund for FY 2023–2024. This action, which complies with an order from the Bombay High Court, provides relief to qualifying taxpayers who make ₹5,00,000 or less a year. The distinctions between the rebate limitations under the previous and current tax regimes are also highlighted in the update. Discover how to make your rebate claim and make sure you're in compliance with this updated framework.
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By Krishna
Maximizing Tax Savings: Exploring Deductions and Exemptions in ITR Filing
Dive into the realm of tax efficiency as we unravel the intricacies of deductions and exemptions in income tax return (ITR) filing. Discover how strategic planning and a thorough understanding of tax provisions can lead to significant savings. Explore actionable insights to minimize your tax liability and maximize Financial well-being
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By Krishna
Innovative Move: Income-Tax Department Launches Automated Reconciliation System - APNOKACA Update
A pilot project was initiated in September 2022, resulting in updates to about 4,300 ITRs.
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By Krishna
Demystifying Taxation in India: Income Tax vs. TDS - APNOKACA Insights"
On the other hand, Tax Deducted at Source (TDS) is a mechanism where tax is deducted at the time of making certain payments such as salary, rent, or professional fees.
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By Krishna
RBI's Vigilance: Action Against Unauthorized Payment System in Card Network Intermediary - APNOKACA Update
The Reserve Bank of India has discovered that a certain Card Network had set up a system allowing businesses to make card payments through intermediaries to entities that don't accept card payments.
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By Krishna
2024-25 TDS Rate Chart Update: AY 2025-26 Insights - APNOKACA Guidelines
TDS, or Tax Deducted at Source, is a method introduced by the Income Tax Department of India to prevent tax evasion.
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By Krishna
Navigating Cash Transactions: Unveiling New Guidelines - APNOKACA Update
Introducing the "New Guidelines for Cash Transactions"! These rules are changing how we use cash.
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By Krishna
Direct Tax Collections Surge: 80% of Revised Estimates Achieved by February 10th - APNOKACA Report
To reach the target set in the revised estimates for the year, the government needs to collect Rs 3.85 trillion in approximately 50 days.
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By Krishna
Crucial Update: Revised TDS Rates for Inactive PANs - APNOKACA Advisory
The Income Tax Department has sent an important notice to Tax Deductors and Collectors, alerting them about the impact of having an 'Inoperative' PAN status on TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) rates.
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By Krishna
GST Department Notices: Businesses on the Radar - APNOKACA Update
According to Section 150 of the CGST Act of 2017, the notices were issued, requiring the assesses to provide a detailed explanation for the "underreported" input tax credits.
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By Krishna
Understanding Tax Limits: Depositing Cash in Savings Account without Attracting Taxes
To meet their banking needs, many people, including those with regular salaries, often open savings accounts to keep their money safe and earn interest.
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By Krishna
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April 1, 2024 Onwards: Crucial Insights on Updated Income Tax Return (ITR) Forms - APNOKACA Update
To streamline tax processes and improve transparency, the Income Tax Department has announced important updates to income tax return (ITR) forms.
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By Krishna