Tag: income tax

1. Avoid Late Filing Penalty As per the Income Tax Act, filing your Income Tax Return (ITR) after the due date can lead to penalties ranging from ₹1,000 to ₹5,000. By filing early, you maintain a clean record and save...

Introduction to Income Tax Return Forms Filing income tax returns is an essential process for individuals and businesses. Among the various forms available, ITR-1 and ITR-4 are particularly significant for taxpayers. With the recent updates, taxpayers can now file these...