While filing income tax returns, we need many documents. Many times it happens that while filing the return, we come to know ...

Form 941 is used to report income taxes, payroll taxes, Social Security, and Medicare taxes withheld from employee wages. Most employers who pay wages file Form 941.

The Income Tax Department has recently introduced an enhanced version of the Excel-based utility for Filing ITR-2, designed ...

Even outside the reporting cycle, it is important not to lose sight of the pillar two measures and their ‘bear traps’. A ...

Filing ITR is not only a legal responsibility but also important for taxpayers' financial health. It keeps a record of one's ...

While Form 16 simplifies the ITR filing process, it is not mandatory. You can still file your income tax return using alternative documents, such as: Salary slips – To verify your salary income and ...

When submitting an ITR, the employee can manually declare the allowance and claim the exemption if the employer has not included this in Form 16. You must accurately disclose it in your Income Tax ...

They get only one chance to switch back. As per Budget 2023, taxpayers opting for the old tax regime must submit Form 10-IEA before filing their ITR. This form confirms their chosen tax regime and ...

TIL Creatives Didn’t file ITR in past? You may get tax notices from I-T department ... highlights how for non-residents, Form 15CA/15CB reporting done by resident entities is closely monitored and ...

Ever missed a tax deadline or realized you underreported income in a past return? The Income Tax Department offers two remedies: Updated Returns (ITR-U) and Condonation of Delay. While both address ...

It must be noted here that ITR form is an annexure-less form, which means that no forms have to be attached along with it. However, the above mentioned forms/statements must be kept ready as the ...