Income from freelancing should be reported under ‘’profit and gains from business and profession’’ while filing the ITR.

While the new regime offers reduced tax slabs, it doesn't let you claim the usual deductions available under the old regime.

Income Tax Returns Process: In a first for the financial year 2024-25, the Income Tax department will open its official portal to make online filing a reality. The availability of requisite Income Tax ...

advertisement WHEN CAN YOU FILE YOUR ITR? You can submit your ITR for the assessment year 2025-26 once the online portal goes live. While there is no confirmation date yet, the tax department ...

The various ITR forms are likely to become available ... and any other proof of income might be necessary while filing out the online form.

Amit Maheshwari Tax Partner, AKM Global: You may opt for the old tax regime while filing your ITR. As a salaried individual, you can make this choice each financial year. Regarding your second query, ...

and verifying this form is a mandatory step to complete the income tax filing process. Taxpayers can verify their ITR either online through electronic methods or offline by sending a signed physical ...

ITR Filing For FY 2024-25: The Income Tax Act allows individuals to switch between the old and new tax regimes while filing their ITR. Trending Photos ITR Filing For FY 2024-25: Filing your Income Tax ...

Yes, salaried individuals and pensioners can switch tax regimes every year while filing their ITR. Even if you have informed your employer about choosing a particular regime for TDS purposes, you can ...

As the assessment year 2025-26 begins, taxpayers are urged to file their Income Tax Returns (ITR) on the Income Tax portal. It is crucial to submit the relevant forms and declare financial gains ...

Claiming an income tax refund online is a straightforward process ... Here’s a general estimate: Post e-filing and verification: Once you file your ITR and e-verify it, the department starts ...