An income tax return is a document filed with the tax authorities that outlines an individual’s or entity’s income and tax liabilities. It serves as a record of one’s financial activities throughout the year. Income tax forms play a crucial role in the tax filing process by providing a structu...

The cash deposit limit in savings accounts refers to the maximum amount of cash that an individual can deposit within a specified period without attracting the attention of tax authorities. This limit is set by income tax regulations to monitor and regulate the flow of cash transactions, curbing the...

In a recent development, the Central Board of Direct Taxes (CBDT) has issued a directive to Self-Reporting Organizations (SROs) urging them to furnish comprehensive details of high-value transactions conducted during the fiscal year 2022-23. The deadline for submission has been set for June 30. The ...