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It is necessary to verify an ITR to complete the return filing process; without verification within the stipulated time, an ITR is treated as invalid.

Indian taxpayers can now easily access their financial data through the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) on the Income Tax portal.

Last date for ITR filing for FY 2024-25 (AY 2025-26): Under the Income Tax Act, 1961, the last date for ITR filing varies for different categories of taxpayers. This year, the Income Tax Department extended the ITR filing deadline for certain categories of taxpayers. Check to see if the ITR filing last date for FY 2024-25 (AY 2025-26) has been extended for whom.

The department initiates a large-scale verification operation across multiple locations, targeting those facilitating fraudulent claims of deductions and exemptions in ITRs.

India's tax administration has undergone a significant transformation, marked by a five-fold increase in income tax refunds and a three-fold rise in direct tax collections. The processing time for refunds has drastically reduced from 93 days to just 17, driven by widespread adoption of digital infrastructure.

If you are confused by personal finance terms, jargon and calculations, here's a series to simplify and deconstruct these for you. In the 59th part of this series, Riju Mehta explains the utility and relevance of cost inflation index.

If you're planning to settle in India, understanding how your tax residency status changes is as important as getting your shipping container through customs. The tax liability of NRIs after returning to India is determined primarily by how many days they have been physically present in the country during the concerned financial year.

Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.

From visa woes to family calls, overseas Indians are eyeing a return--but the financial path home is more tangled than the emotional one.

Though there is no need to file ITR generally if your annual income falls under the exemption limit, there are certain conditions in which you might be required to file tax return.