How much exemption can be availed without a receipt? If you have paid rent of less than Rs 36,000 in a year or Rs 3,000 per month, then you can claim HRA even without a rent receipt.

HRA claims are under increased scrutiny, with tax officers rejecting claims lacking a clear money trail or appearing dubious.

Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.

Standard Operating Procedures (SOPs) for police verification for obtaining a passport are prepared by the Centre, but the Maharashtra government will look into problems faced by citizens whose ...

Salaried individuals claiming HRA tax exemption should ensure accuracy and compliance, as discrepancies can lead to rejection ...

Filing income tax returns (ITR) can be confusing but since it is an important part of managing your money, you need to be ...

It is best to be honest while claiming deductions and avail tax breaks only if one can back them up with documentary proof, should there later be a notice by the income tax department.

T department has been tracking AIS and AI tools to track and analyse financial data and identify such fraudulent claims. Here's why ...

Taxpayers must review Form 26AS, AIS, and TIS before filing income tax returns. The Annual Information Statement (AIS) offers a detailed view of earnings, taxes, and investments, allowing taxpayers to ...

Relocating for a job can impact your tax situation. Understand how your move affects your income tax liability, deductions, ...

ITAT Mumbai grants Vishwaroop Infotech partial relief on unrealized rent and Section 14A disallowance, highlighting commercial expediency and proper expense ...

A court here on Monday reserved its verdict on the question of taking cognisance of the prosecution complaint filed by the ...