New Delhi, July 1 (IANS) The Supreme Court on Wednesday laid down broad guidelines for determining the income of deceased victims in motor accident compensation cases, holding that while the latest Income Tax Return (ITR) should ordinarily be relied upon for salaried persons, the average of up to the previous three years’ ITRs should generally be considered for self-employed individuals, subject to the nature and circumstances of their business.A bench of Justices Sanjay Karol and N.K. Singh sai…
Latest income tax return News & Updates
New Delhi, Dec 30 (IANS) The Delhi High Court has dismissed a writ petition filed by a Canada-based non-resident Indian seeking condonation of delay in filing his Income Tax Return (ITR) for the assessment year 2020–21.The petitioner, a Canadian citizen residing in British Columbia, had pleaded ignorance of Indian tax laws, health issues, and Covid-related travel restrictions as reasons for not filing the return in time, even though he had earned income from the sale of immovable property in I…
As the Income Tax Return Filing 2025 deadline for FY 2024-25 ticked down to September 15, millions of taxpayers across…