House Rent Allowance, commonly known as HRA, is one of the most widely claimed tax exemptions among salaried individuals in India. Almost every salaried person living in a rented home receives HRA as part of their salary package, but a surprisingly large number either claim the wrong amount or miss out on the exemption altogether… Continue reading HRA Exemption Under Section 10(13A): How Salaried Employees Can Claim It While Filing ITR for FY 2025-26

A growing number of taxpayers are receiving some form of communication from the Income Tax Department after filing their return, ranging from a routine intimation to a more serious reassessment notice. This is not necessarily a sign of wrongdoing. With banks, employers, mutual fund houses, registrars, and other institutions now reporting transaction-level data directly to… Continue reading Common ITR Filing Mistakes That Trigger Income Tax Notices

Filing an income tax return is an annual obligation for individuals, Hindu Undivided Families (HUFs), firms, and other entities whose income exceeds the prescribed threshold, or who fall within certain categories defined under the Income Tax Act, 1961. For Financial Year 2025-26, corresponding to Assessment Year 2026-27, the Income Tax Department has enabled e-filing utilities… Continue reading ITR Filing for FY 2025-26 (AY 2026-27): Complete Guide for Income Taxpayers