If you own a property and earn rental income from it, it is essential to include that income and pay taxes on it when filing your Income Tax Return (ITR). Failure to do so can have consequences, ...

The Income Tax Department on Friday released Excel utilities for ITR-2 and ITR-3 forms, which can be used by taxpayers to file ITR on income received from Taxable Capital Gains, crypto income, and ...

With the Income Tax Return (ITR) deadline of September 15, 2025, a few days from now, the Income Tax (I-T) Department has made available Excel Utilities for filing updated returns in ITR-5, ITR-6 and ...

Income tax is calculated based on your taxable income, which includes wages, salaries, business profits, and other sources of income. Deductions, exemptions, and credits can affect the final tax ...

To estimate your tax liability for FY 2025-26, you can use Financial Express’s online income tax calculator. How to Calculate Tax for FY 2025-26: In her eighth budget presentation under the BJP-led ...

Is this too late for ITR forms? Some experts believe that it is a little late now for releasing income tax forms when only one month is remaining before the deadline for filing of return end on ...

A salaried taxpayer purchased a 2 BHK flat in Delhi last year with the help of a home loan for which he is paying Rs 3.5 lakh as interest annually. While he is living in a rented house in Mumbai ...

Reply by: Yeeshu Sehgal, Head of Tax Market, AKM Global, a tax and consulting firm. Section 115BBH was inserted in the Income Tax Act, 1961, outlining the taxation rules for income generated from the ...

Want to know how your income tax is calculated? The gross tax is calculated on the basis of a progressive scale. This amount is adjusted to determine the net tax payable. To calculate your tax, you ...

Who should pay advance tax? All taxpayers are required to pay advance tax if their projected tax liability for a fiscal year is Rs 10,000 or higher. These people should pay advance tax: ...