fundfolio

Income tax is a type of tax that the central government charges on the income earned during a financial year by individuals and businesses. Taxes are sour...

Income Tax Return (ITR) is a form that a person is supposed to submit to the Income Tax Department of India. It contains the details of a person's incom...

A tax refund is a reimbursement to a taxpayer of any excess amount paid to the federal government or a state government. Taxpayers tend to look...

As per income tax laws, ITR must be mandatorily filed if a resident individual's total income during the financial year exceeds the basic exemption limi...

If a person is required to furnish a return of income under section 139 and fails to do so within the time prescribed in sub-section (1), he/she will have t...