financial transactions

Income Tax Return: 8 common mistakes to avoid for a flawless income tax filing

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Income Tax Return: 8 common mistakes to avoid for a flawless income tax filing

Selecting the incorrect form: One of the most common mistakes people make is choosing the incorrect form to file their taxes. Each form is tailored to a certain sort of income and taxpayer profile, and using the incorrect form might result in mistakes and processing delays. CA expert advises taxpayers to thoroughly analyse the qualifying … Read more

ITR: What is Annual Information Statement? Where to access for making corrections

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ITR: What is Annual Information Statement? Where to access for making corrections

The Income Tax Department Monday said it is in the process of issuing notice to taxpayers about ‘mismatch’ between the information filed in the Income Tax Return (ITR) vis-a-vis information of specified financial transactions, as available with the department, for the assessment year 2021-22 (FY 2020-21). The tax department urged taxpayers to access their Annual … Read more