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For a worker making $40,000 or less, standard deductions often already wipe out federal tax obligations. But for someone in ...
Midrange earners stand to see meaningful savings, too. A warehouse supervisor earning $60,000 with $10,000 in overtime could ...
Taxpayers have a tendency to ignore interest income on tax-saving bonds, fixed deposits, or savings accounts. Income from ...
Tax refund is the amount the Income Tax Department repays to you when the total tax paid by you—through TDS, advance tax or ...
Taxpayers are facing delays in getting their income tax refunds for AY 2025-26, mainly due to the late rollout of ITR forms ...
ITR form selection is vital for tax returns. ITR-1 suits salaried individuals with income up to ₹50 lakh, whereas ITR-2 ...
Tax professionals say such errors are common due to changes in form applicability and taxpayer profiles. However, the filing ...
Taxpayers should make only eligible claims as any discrepancy could lead to significant penalties and even legal action.
Discover the top 10 tax deductions you can claim in your ITR for FY 2024-25. Save more by using these smart tax-saving ...
Filing a wrong ITR doesn't just stall refunds, it can trigger penalties and scrutiny if not fixed,' warns a tax expert ...
While income tax returns are being filed in full swing, taxpayers are increasingly turning to their smartphones to complete the process as quickly and conveniently as possible.
With multiple ITR forms notified by the Income Tax Department, it could be confusing for many, especially for senior citizens, to choose the right form. It’s important to choose the right ITR form to ...