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Business News/Topic/ Income Tax

INCOME-TAX

Get the latest Income tax news, videos and headlines. Explore more for Income tax breaking news, opinions, special reports and more on mint.

For FY 2024-25, last date to file income tax return is Sept 15

ITR filing: Deadline is Sept 15, will there be penalty for filing after July 31?

2 min read . 24 Jun 2025

Payment of rent to HUF for property registered in individual names.

Can I pay rent to a HUF when the property is registered in an individual’s name?

2 min read . 24 Jun 2025

ITR-2 can be filed by individuals or Hindu Undivided Families (HUFs) who are not eligible to file ITR-1 (Sahaj)

What are ITR-2, ITR-3 and who should use them while filing their return?

2 min read . 23 Jun 2025

The Sultanate of Oman has decided to impose a 5% income tax on people of the nation who have an annual income of 42,000 rials ($109,000) or above.

Oman to impose income tax on top earners, becomes first Gulf state to do so

2 min read . 23 Jun 2025

Preeti Sharma says that it is advisable to consult a tax expert if a taxpayer has more complex income.

Chances of inquiry by tax dept higher in old tax regime: Preeti Sharma

6 min read . 22 Jun 2025

The Income Tax Department issued ₹86,385 crore of corporate and personal income tax refunds in the period, a 58% jump from the year-ago period.

Jump in refunds depresses Centre’s net direct tax revenue

2 min read . 21 Jun 2025

To claim Section 89(1) income tax relief, always provide a structured break-up of arrears—avoid filing errors.

Can I claim Section 89(1) relief without the detailed break-up of arrears?

2 min read . 20 Jun 2025

Filing ITR: It is recommended to use tax calculator to evaluate tax liability

ITR 2025: How tax calculator can help you file your return with ease?

1 min read . 20 Jun 2025

The excel utilities of two forms (ITR-1 and ITR-4) have already been released

Income Tax: Taxpayers urge I-T department to release excel utilities

1 min read . 21 Jun 2025

Set-off of losses from crypto investment or trading is not allowed to be set off against any other income or for carry forward to subsequent years.

Income Tax: Report crypto gains in your tax return as taxmen ‘nudge’ investors

1 min read . 18 Jun 2025

Taxpayer can also update their bank account on income tax portal

Income Tax: Make sure your bank account is updated to get refund on time

1 min read . 18 Jun 2025

Deducting the permissible exemptions is crucial to calculating net taxable income. (iStockphoto)

How to calculate tax if capital gains are your sole income in FY25

4 min read . 18 Jun 2025

Public grievance redressal has gained renewed attention in recent years, with rising concerns over taxpayer services and procedural hurdles in customs clearances.

Cabinet secretariat to hear taxpayer, trader grievances on tax, customs

3 min read . 16 Jun 2025

Filing ITR: Salaried taxpayers must cross check TDS information given on form 16 against the data given in 26AS

ITR 2025: Salaried taxpayers must be aware of these 7 key points

2 min read . 16 Jun 2025

Taxpayers are meant to clear 15 percent of their overall tax liability by June 15.

Income Tax: Today is the deadline to pay first instalment of advance tax

1 min read . 15 Jun 2025

In its latest guidelines, the Central Board of Direct Taxes (CBDT) has allowed its senior field officers until 30 June to issue notices to charitable trusts, religious trusts, research institutions and individuals.

Charitable and religious trusts, research institutions under I-T lens

3 min read . 15 Jun 2025

Income tax: Taxpayers need to pay 15 percent of total tax liability of FY 2025-26 before June 15 (Image: Pixabay)

Advance tax first instalment is due by THIS date. Are liable to pay?

1 min read . 13 Jun 2025

Income Tax department has shared one tax calculator on its website to help taxpayers evaluate total tax liability under both tax regimes

ITR 2025: These rules govern the switching of income tax regime

1 min read . 15 Jun 2025

While regular citizens are offered a maximum of ₹25,000 deduction in form of medical insurance premium, senior citizen are entitled to claim maximum of ₹50,000 for senior citizens.

Income Tax: Senior citizens are entitled to claim THESE benefits

1 min read . 11 Jun 2025

To be able to file income tax under the old tax regime, you must opt out of the default regime. It is required for the taxpayers to submit Form 10-IEA to opt out of the default regime.

Income Tax: You can file ITR under the old tax regime for THESE reasons

2 min read . 10 Jun 2025