When filing your income tax return, you must use either ITR 1 or ITR 2, depending on your sources of income for the year. Filing with the wrong form can result in a notice from the tax department ...

Taxpayers with foreign income or assets must disclose them by December 31, 2024, to avoid penalties under the Income Tax and ...

other sources and having only one house and total income less than Rs50 lakhs per annum ITR-2 For incomes over Rs50 lakhs per year or having capital gains or more than one house property or having ...

If agricultural income is up to ₹5,000, the assessee can use ITR-1. ITR-2 is applicable for resident individuals or a Hindu Undivided Family (HUF) whose total income exceeds ₹50 lakh.

"Receipts in Cash" column added to ITR-4 to claim enhanced turnover limit The Finance Act, 2023 has enhanced the turnover threshold limit from ₹2 crores to ₹3 crores for opting for the ...