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Under Section 234F of the Income Tax Act, if taxpayers missed filing ITR they have to pay penalty of Rs 5,000 if their income is over Rs 5 lakh and Rs 1,000 if it's less than that.

Missed Filing ITR for Several years? There's Still a Second Chance to File ITR Again

Judgement

ITAT partly allows appeal against Section 68 addition of Rs.15.66 lakh by estimating 8% profit on ₹30 lakh turnover in scrap trading business

ITAT Estimates Profit @8%, Partly Allows Appeal Against Rs. 15.66 Lakh Cash Deposit Addition

Taxpayers will lose tax benefits allowed under old tax regime if they file belated ITR.

Filing Belated ITR? Here is Why You Should Always File Returns on Time

ITAT quashes 22.19 lakh penalty u/s 271(1)(c) after confirming capital gain as long-term and allowing exemption under Section 54F.

ITAT Deletes Rs. 22.19 Lakh Penalty u/s 271(1)(c) After Deletion of Capital Gain Addition

ITAT directs AO to reconsider excess cane price and concessional sugar sale under Section 155(19) and guidelines

ITAT Remands Excess Cane Price and Concessional Sugar Sale Issues for Fresh Consideration

The Income Tax Bill 2025, set to be tabled on August 11, aims to modernise and simplify India's 60-year-old tax law without altering tax rates.

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Missed Filing ITR for Several years? There's Still a Second Chance to File ITR Again

ITAT Estimates Profit @8%, Partly Allows Appeal Against Rs. 15.66 Lakh Cash Deposit Addition

Filing Belated ITR? Here is Why You Should Always File Returns on Time

ITAT Deletes Rs. 22.19 Lakh Penalty u/s 271(1)(c) After Deletion of Capital Gain Addition

ITAT Remands Excess Cane Price and Concessional Sugar Sale Issues for Fresh Consideration

Finance Minister Expected to Table Income Tax Bill 2025 in Parliament on August 11