# itr
12 posts in `itr` tag
Taxation of Foreign Income for Non-Resident Indians
Discover the intricacies of NRI taxation, from understanding residency rules to navigating regulations outlined in the Income Tax Act and FEMA. Learn about the significance of the Resident but Not Ordinarily Resident (RNOR) status and how it impacts tax planning for Non-Resident Indians.
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By Krishna
Demystifying Income Tax Assessments in India
This guide unravels the complexities of income tax assessments in India. Learn about the different types of assessments, including self-assessment, scrutiny assessment, and summary assessment. Understand how each assessment works and what to expect from the Income Tax Department. The guide also emphasizes the importance of timely and accurate ITR filing to avoid assessments before an Assessing Officer.
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By Krishna
Don't Miss Out! Key Dates and Deadlines for ITR Filing in FY 2024-2025
This blog post offers a concise overview of how to reduce your tax bill for the 2024-2025 financial year (FY) in India. It clarifies the difference between deductions and exemptions, highlighting popular options like Section 80C (investments) and Section 80D (health insurance). It also mentions other helpful sections and reminds readers to keep documentation organized. The synopsis emphasizes that strategic use of deductions and exemptions can save taxpayers money.
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By Krishna
Important Update: Income Tax Department Announces Changes to ITR Verification Process
Taxpayers in India beware! The Central Board of Direct Taxes (CBDT) has tightened the noose on income tax return (ITR) verification. Starting April 1, 2024, you only have 30 days from filing your ITR electronically to verify it. Miss this deadline and your return could be considered invalid, potentially leading to penalties. This synopsis highlights the key points of the new rule, including the verification timeframe, process, and consequences of non-compliance.
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By Krishna
Income Tax Essentials: 7 Must-Knows for Salaried Individuals (FY 2024-25)
This guide summarizes 7 key income tax regulations for salaried individuals in India applicable to the financial year 2024-25 (Assessment Year 2025-26). It covers choosing between the new and old tax regimes, understanding tax slabs and exemptions, maximizing deductions, and adhering to ITR filing deadlines.
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By Krishna
Beyond the Filing: A Guide to What Happens After ITR Filing in India
Filing your Income Tax Return (ITR) is an important step, but it's not the final one. This blog explores what happens after ITR filing in India, including processing timelines, intimation notices, and potential next steps.
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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