This blog explains in simple language why taxpayers may have to pay extra interest if they delay filing their return, pay less tax during the year, or miss advance tax installments. It breaks down Sections 234A, 234B and 234C in an easy format and shares how timely payments can help avoid extra charges. If your final tax payable is less than ₹10,000, these rules normally do not apply.

A short, clear guide to TDS on life insurance payouts under Section 194DA, covering who it applies to, TDS rates, limits, exemptions, how income is calculated, and compliance steps, with a quick example.

Buying property in your wife’s name can trigger an Income Tax Notice. This guide explains the spouse exemption under the Benami Act, how Section 64 clubbing works, and the exact documents and steps to respond. Act fast, stay transparent, and keep your paperwork ready.

This comprehensive guide addresses the common concern of a missing Form 16. It empowers salaried individuals to confidently file their Income Tax Return by detailing essential alternative documents (pay slips, Form 26AS, AIS) and providing a clear, step-by-step process for successful and compliant ITR filing, ensuring no one misses the deadline due to a lost document.

This simple guide explains Form 26A and how it helps TDS deductors avoid being "at fault" under Section 201. It covers the benefits, conditions for filing, how interest is calculated, and important court decisions that provide relief. This resource is clear and easy to understand for managing TDS compliance.

This blog explains the key differences between ITR-3 and ITR-4, specifically for freelancers and consultants, outlining eligibility criteria and scenarios to help them choose the correct income tax return form.

This comprehensive guide breaks down India's New Income Tax Regime under Section 115BAC, now the default for individuals and HUFs. It details the revised income tax slab rates for Financial Years 2024-25 and 2025-26, highlighting the increased basic exemption limits and the enhanced rebate under Section 87A. The article clearly outlines the limited deductions and exemptions still allowed (e.g., standard deduction, employer's NPS contribution) versus the numerous ones no longer applicable. It concludes by helping taxpayers determine whether the new regime or the old regime is more beneficial for their specific financial situation and explains the process for switching between the two.

This guide makes it easier to choose the right Income Tax Return (ITR) form for Assessment Year (AY) 2025-26 (Financial Year 2024-25). It explains each ITR form (ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6, ITR-7) by outlining who can use each one, who cannot, and the specific income sources or taxpayer categories they cover. The guide also notes important updates for AY 2025-26, including the inclusion of certain LTCG in ITR-1 and ITR-4, changes in VDA reporting, updated capital gains segregation, higher thresholds for asset and liability reporting, and required deduction disclosures. The purpose is to help individuals and entities choose the right form for accurate and compliant tax filing.

This comprehensive guide demystifies the process of buying property from a Non-Resident Indian (NRI) in India. It highlights critical tax implications for the buyer, particularly regarding Tax Deducted at Source (TDS), and outlines essential legal due diligence steps to ensure a clear title. The guide also covers FEMA regulations for payment, required documentation for buyers, and the importance of professional assistance, empowering prospective buyers to navigate this specific real estate transaction securely and compliantly.

Did you know you can claim HRA exemption even when you live with your parents? It's a common misconception that costs many taxpayers valuable savings. Our detailed blog post breaks down exactly how to do it legally: from ensuring genuine rent payments and formal agreements to understanding your parents' tax implications. Learn the crucial conditions and required documents to unlock this significant tax benefit. Simplify your HRA claim with expert guidance from myitronline.

This article offers a thorough overview of managing GST refund requests in 2024, including information on the revised procedures, qualifying standards, required paperwork, and filing guidelines. It also discusses typical errors and difficulties that companies go into while submitting GST refund claims. Keep yourself updated on significant developments to guarantee effective cash flow and tax law compliance.

Filing an Income Tax Return (ITR) can be a daunting task, and mistakes can occur. A revised ITR is a solution to rectify errors or omissions in the original return. This comprehensive guide covers revised ITR filing deadlines, common errors, procedures, and tips to help you navigate the process with ease.