Hosted on MSN

ITR Filing Due Date: What happens if you miss deadline to file income tax today? ₹5,000 penalty and more

ITR Filing Due Date Extension: The deadline to file your income tax return (ITR) ends today, 15 September, with the income tax department confirming in a post on X that there will be no extension to ...
Hosted on MSN

Missed the ITR Filing Deadline? Here’s What Happens If You Don’t File Your Return on Time

If you missed filing your Income Tax Return (ITR) this year, don’t panic just yet. The Income Tax Department still allows taxpayers to file a belated return until December 31, 2025. However, there are ...
Tax Guru

ITR-U: Pensioners 4-Year Compliance Lifeline – A Second Chance to Avoid Notices

AIS analytics now detect non-filers where pension and interest income exist. Voluntary filing through ITR-U helps avoid notices under Sections 142(1) and 148, saving professional costs and compliance ...
Tax Guru

Section 139(8A) Updated Return (ITR-U): Law as Amended and Practical Implications

Section 139(8A) now permits filing of ITR-U within 48 months from the end of the assessment year. However, it cannot be used to reduce tax liability, claim refunds, or bypass departmental ...
The Financial Express

NRI missing ITR filing slapped with 78% tax notice on property payment — ITAT steps in

An NRI faced a proposed 78% tax after ₹14.70 lakh of his property payment was made through his mother’s account and treated as unexplained investment. The ITAT Mumbai deleted the addition after he ...
The Financial Express

NRI bought Rs 2 crore Mumbai flat, got notice for ‘unexplained money’ — ITAT clarifies tax rule on foreign income

A Dubai-based NRI who bought a ₹2 crore flat in Mumbai without filing an ITR in India received a tax notice treating the ...