Page Contents
If you are mandated to file an Income Tax Return and miss the deadline, you can still file your tax return as a belated ITR. While it is possible to file a belated ITR, it is important to be aware of the penalties and potential complications that can arise from not filing your Income Tax Return on time. However, filing a belated Income Tax Return has several consequences, including penalties and the loss of certain benefits.
This is a comprehensive overview of the different Income Tax Return forms and their applicability based on the type of income and taxpayer category. This breakdown should help you quickly identify which Income Tax Return form is applicable based on your specific income and situation. Here’s a summary to make it easier to understand:
New cheque clearing process in India starting from October 4, 2025 Existing System (Until Oct 3, 2025) : Clearing Method:… Read More
Overview on Tax Treatment on Gratuity in India What is Gratuity? Gratuity is a lump sum paid by an employer… Read More
Taxation Comparison: Gold Coin vs Gold Jewellery Tax Aspect Gold Coin Gold Jewellery ITR Reporting Treated as a capital asset.… Read More
Crypto Taxation & ITR Reporting Guide Tax on Profits from Crypto (Virtual Digital Assets)- Taxation U/s 115BBH Applicability on Virtual… Read More
Savings Account – Rules for Transactions to Avoid Income Tax Scrutiny The Income Tax Department monitors high-value transactions through banks’… Read More
Quick Guide on GST Marginal Scheme What is GST Marginal Scheme Meaning : The GST Margin Scheme is applicable primarily… Read More