Tag: Income Tax
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HMRC Refund Fraud: How to Fight a Wrong Tax Claim
Understanding the problem: a tax refund gone to a fraudster Many taxpayers depend on HM Revenue & Customs (HMRC) for accurate refunds, but fraud can disrupt even well-managed accounts. In some cases, a refund or repayment claim is diverted to a fraudulent recipient, leaving the rightful taxpayer facing liability for sums they never owed. If…
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Reeves eyes income tax rise and prostate screening savings
Reeves weighs a 2p income tax rise in the Budget Chancellor-in-waiting Rachel Reeves is reportedly considering a modest 2p rise in income tax as part of the upcoming Budget. While early-stage plans are still under discussion in Westminster, the move would mark a notable shift in fiscal policy and could be aimed at shoring up…
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Reeves eyes income tax rise: what it means for the UK Budget
Disclaimer and context Thursday’s papers carry spoilers for The Celebrity Traitors, but the political headlines next to them are about a potential shift in Britain’s tax policy. The Daily Telegraph reports that Labour frontbencher Rachel Reeves is weighing a small increase to income tax in the forthcoming Budget. While no policy is final, the suggestion…
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Reeves Eyes Income Tax Rise in Budget Plan Update 2025
Introduction: What the headlines mean for this year’s Budget Recent newspaper front pages highlight a potential shift in fiscal policy as Labour leader Rachel Reeves is being reported to be eyeing a modest increase in income tax in the upcoming Budget. The talking point—an approximately 2p rise in the basic rate—has sparked debate about how…
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Government Eliminates Asset Valuation Requirement in Tax Returns
Introduction In a significant policy shift, the government has decided to remove the asset valuation column from the income tax return form for the year 2025. This decision, announced on September 27, 2025, follows mounting pressure from various stakeholders, including tax practitioners and legal communities, and comes directly on the heels of a strong clarification…
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ITR Filing Due Date: Possible Extension Update for 2025
Understanding the ITR Filing Deadline The Income Tax Return (ITR) filing deadline is a significant date for taxpayers in India. Typically, taxpayers are required to file their returns by July 31 for the financial year ending March 31. However, extensions can occur based on various factors, including public demand and administrative considerations. Current Situation Regarding…
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ITR Filing Due Date Update: Will the Deadline Be Extended?
Introduction The Income Tax Return (ITR) filing deadline is a critical date for taxpayers in India, marking the end of a financial year’s obligation for tax submissions. With the current deadline set for September 15, 2025, many individuals and businesses are left wondering if the government will extend this date. This article delves into the…
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ITR Filing Due Date: Potential for Extension of September 15 Deadline
Understanding the Importance of ITR Filing The Income Tax Return (ITR) filing is a crucial responsibility for taxpayers in India. Each year, individuals and businesses must ensure they submit their returns by the designated due date to avoid penalties and interest. The September 15 deadline is particularly important for businesses and professionals who wish to…
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ITR Filing: Updates on Tax Filing Deadlines
ITR Filing: An Overview Filing your Income Tax Return (ITR) is an essential obligation for taxpayers in India, ensuring compliance with the government’s tax regulations. With the current financial year well underway, many taxpayers are wondering about the latest updates concerning ITR filing deadlines. Current Status of ITR Filing Deadlines The Income Tax Department has…
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Understanding ITR Filing Deadlines and Extensions: Key Insights
Introduction to ITR Filing Filing your Income Tax Return (ITR) is a crucial responsibility for taxpayers in India. The deadlines for ITR submissions vary each year, and understanding them is essential for ensuring compliance and avoiding penalties. This article delves into the recent challenges faced by taxpayers and the potential for an extension on the…