When a capital asset is sold or transferred at a profit, it is termed as capital gain or capital profit
It is very important to keep some things in mind while filling ITR, otherwise you can get into big trouble
When compared to pre-Covid times the income tax returns filed have not reached half of that number
Out of this, over 1.68 crore income tax returns (ITRs) have been processed, while refunds have been issued in more than 64 lakh cases
The ITR's last date of filling for the financial year 2020-21 is 31st December 2021 for most individual taxpayers
The CBDT had extended the last date of filing income tax returns to December 31, 2021.
When an individual files taxes, he or she may provide fraudulent information in an attempt to reduce or avoid paying.
Money9 Helpline hosted tax expert Gauri Chadha to resolve your queries on how to be ready for all situations related to income tax.
CBDT has issued Form 12BBA, which will be the declaration required to be filled out by the taxpayer when claiming exemption.
Losses on capital gains and losses on business and profession shall not be carried forward in case of belated ITR filing