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The Income Tax Department has finalized guidelines for assessing or re-assessing of high-risk value in updated Income Tax Returns filed for Assessment Year 2020-21 (Fiscal Year 2019-20). Meanwhile, the last date to file an updated Income Tax Return for Assessment Year 2021-22 is March 31.
Read more at: The Hindu business line
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A senior citizen covered under CGHS underwent hip replacement surgery, and personally paid as part of the hospital bill was not fully reimbursed. Can this amount be claimed as a deduction while filing the ITR?
As many as two lakh Income Tax Returns (ITRs) containing details of foreign assets and income have been filed during the current assessment year till now, according to the tax department which urged Indian residents for tax purposes to ensure they file the right form and revise their returns if they submitted the wrong form.
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