Income Tax ⁽³³⁾

The recently released 2023 ITR Forms have separate section for crypto income. This interesting change is seen in Income Tax Return Form 1 (ITR-1) and Income Tax Return Form 2 (ITR-2) so far. A separate schedule has been added for reporting income from crypto and…

Notices are issued by the income tax department under the various provisions of the Income Tax Act to the assesses with the purpose to assure greater tax compliances. You may benefit by reading this article on Types of Income Tax Notices a person may receive…

Filing ITR-U Return in India: Benefits, Process and Additional Income Tax Payable – Last Resort For Those Who Missed the ITR Due Date INTRODUCTION In India, the government has introduced the concept of updated returns in the Union Budget 2022 to benefit taxpayers who have…