Income Tax : CBDT has notified updated ITR forms for AY 2025-26. Changes include revised asset reporting thresholds, capital gains bifurcation,...
Income Tax : Learn about the revised ITR-1 (Sahaj) & ITR-4 (Sugam) forms for AY 2025–26. Updated rules include LTCG reporting, income limits,...
Income Tax : ITR Forms 1 & 4 for AY 2025-26 are notified with changes including LTCG reporting, presumptive taxation limits, and additional dis...
Income Tax : CBDT introduces AI/ML for ITR scrutiny selection. Automated risk scoring based on data mismatches demands greater accuracy from ta...
Income Tax : Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections ...
Income Tax : Karnataka State Chartered Accountants Association raises concern over delayed release of ITR forms for AY 2025-26, pressing CBDT f...
Income Tax : CBDT revises ITR Forms 1 & 4 for AY 2025-26, expanding eligibility criteria, adding disclosure requirements and simplifying compli...
Income Tax : CBDT's electronic campaign helps taxpayers fix mismatches in income and transactions for FY 2023-24 and 2021-22. Revised ITRs can ...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Corporate Law : A record 7.28 crore ITRs filed for AY 2024-25, with 5.27 crore in the New Tax Regime. Over 69.92 lakh ITRs were filed on 31st July...
Income Tax : ITAT Ahmedabad remands ₹77.47 crore unexplained expenditure case of Redex Enterprise due to violation of natural justice during ...
Income Tax : ITAT Jaipur held that the assessee has sufficient amount of interest free fund to make investment yielding exempt income, therefor...
Income Tax : Assessee was a medical professional, filed his returns for the Assessment Year (AY) 2018-19. The appeal concerned an addition of o...
Income Tax : ITAT Delhi held that interest under section 234A of the Income Tax Act is leviable from the first date immediately following the d...
Income Tax : Delhi High Court held that deduction of tax by Land Acquisition Collector is duly, however, the same was not reflected in Form 26A...
Income Tax : CBDT revises ITR-V and Acknowledgement forms for AY 2025-26, effective April 1, 2025, with updated verification and filing instruc...
Income Tax : CBDT Notification 44/2025 amends Income-tax Rules 1962, substituting FORM ITR-6 in Appendix II, effective from April 1, 2025....
Income Tax : CBDT issues Income-tax (Fourteenth Amendment) Rules, 2025, effective April 1, 2025, replacing FORM ITR-5 in Appendix-II....
Income Tax : CBDT issues Notification 41/2025, effective April 1, 2025, substituting the ITR-3 form in Appendix II of the Income-tax Rules, 196...
Income Tax : Learn about the latest changes in Income Tax Rules, 2025. Key amendments include updates to ITR forms and provisions for capital g...
Learn about condonation of delay in filing ITR under Section 119(2)(b), conditions, timelines, application methods, and practical scenarios to ensure claims are not lost.
Explore Income Tax systems, from Form 26AS and AIS for tax data to CPC-ITR and faceless assessments ensuring transparency and efficiency in tax compliance.
Budget 2025 proposes a 10-year registration for small charitable trusts with income under ₹5 crores, aiming to reduce compliance but excludes new trusts and Section 80G approvals.
Learn how to file Schedules FSI, TR, and FA in Indian ITRs. Understand foreign income, tax reliefs, and asset disclosures to ensure compliance and avoid penalties.
Assessee was a medical professional, filed his returns for the Assessment Year (AY) 2018-19. The appeal concerned an addition of over Rs. 179 crore made by AO under section 68 alleging unexplained cash credits in the assessee’s hands.
ITAT Delhi held that interest under section 234A of the Income Tax Act is leviable from the first date immediately following the due date till the date of full discharge of entire tax liability. Interest u/s. 234A has no relevance of date of filing of ITR.
CBDT’s electronic campaign helps taxpayers fix mismatches in income and transactions for FY 2023-24 and 2021-22. Revised ITRs can be filed until Dec 31, 2024.
Understand ITR exemption under Section 194P for senior citizens 75+ years. Learn eligibility, conditions, and other tax benefits available in India.
Accurate disclosure of foreign assets and income in ITR is essential to avoid penalties. Revised returns can be filed by December 31, 2024, for A.Y. 2024-25.
Learn steps to rectify an incorrectly selected Income Tax Return (ITR) form during e-filing. Understand the implications and how to correct the mistake.
