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Tag: ITR filing India
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Slower Tax Refunds After ITR Filing: Understanding the ₹700 Crore False Exemption Crackdown
Indian taxpayers who filed their Income Tax Returns (ITRs) this year may have noticed that refunds are taking longer than usual. The main reason: the Income Tax Department has detected massive false exemption claims amounting to nearly ₹700 crore, mostly under the old tax regime. This discovery has led to tighter scrutiny and extended processing…
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ITR Filing in India: How is Interest Earned on a Joint Account Taxed?
When it comes to income tax filing, one area that often creates confusion is interest earned on joint bank accounts. Many families in India open joint accounts for convenience, but the question arises — who pays the tax on the interest earned? Let’s break this down as per current Indian tax rules. 1. Who is…
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August 2025 Tax Update: ₹12 Lakh Slab Benefit, New Rules on Deductions, and Compliance Changes Explained
Latest Tax Updates in India – 2025: A Detailed Guide for Individuals and Businesses India’s tax landscape has undergone some of its most significant changes in years. With the Union Budget 2025 introducing bold reforms and the new Income Tax Bill 2025 aiming to simplify the law from April 2026, taxpayers — whether salaried individuals,…
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What is Form 26AS? Download, Understand & File ITR Easily with Real Example (2025 Guide)
Form 26AS is a crucial document for filing your Income Tax Return (ITR) in India. Here’s a complete and easy-to-understand explanation for you: 🔍 What is Form 26AS? Form 26AS is an annual tax credit statement issued by the Income Tax Department. It contains details of: ✅ It acts as a consolidated tax statement linked…