Summary ITR forms are chosen by taxpayer type and income profile. ITR-1 suits many salaried residents with simple income. ITR-2 fits individuals and HUFs without business income. ITR-3 is for individuals and HUFs with business income. ITR-4 is for eligible...

Summary Late filing can trigger a section 234F fee. The fee is ₹5,000 for income above ₹5 lakh. It drops to ₹1,000 when total income is up to ₹5 lakh. If tax is still unpaid, interest may also apply. 80c in new tax regime is not available. Taxpayers in Thane often...

Summary ITR-4 is for eligible taxpayers using presumptive income rules. It helps show both earnings and the financial picture behind them. Clean income data reduces filing errors and notice risk. A chartered accountants firm can make the return easier to prepare. A...

Summary A 15 lakh CTC is not the same as 15 lakh taxable income. The current new tax regime gives a standard deduction of up to ₹75,000, but zero tax only becomes realistic when taxable income is pulled down much further. For businesses, GST return filing and income...

Summary GSTR-8 is the monthly TCS statement for registered e-commerce operators. It reports supplies made through the platform and tax collected at source. The due date is the 10th day of the next month. Late fee applies for return periods from October 2022 onwards....

Summary For AY 2026-27, the Income Tax Department says returns for income earned in FY 2025-26 are filed under the old Act on the e-filing portal. The portal FAQ states the due date is 31 July 2026, and also mentions 31 August for some non-audit cases. If your case...

TLDR Late filing can trigger a fee under section 234F. For AY 2026-27, a belated return can be filed up to 31 December 2026, subject to the law and completion of assessment. A salaried person with freelance income usually files ITR-3. ITR-4 works only for eligible...

Key Highlights Choosing the wrong ITR form can delay refunds and trigger notices. Salaried employees, freelancers, businesses, and companies use different ITR forms. Freelance income may shift you from ITR-1 to ITR-3 or ITR-4. The new tax regime changes how deductions...

Summary TDS applies to partnership firms like any other taxpayer. Applicable on payments like contract, rent, and professional fees. No TDS on profit share paid to partners. Interest and salary to partners have separate rules. Correct section selection is critical...