Why should these taxpayers avoid filing ITR before June 15th for AY 2026-2027Taxpayers are advised to delay filing their Income Tax Returns for AY 2026-2027 until after June 15th. This allows for the accurate updatio...
03 Jun, 2026, 07.17 AM IST
Mumbai man received tax notice over unreported income, not filing ITR; ITAT rules in his favour on TDS benefit, tax demand reducedManoj Soman had not filed an ITR for the relevant assessment year, which is FY 10-11 in this case. Based on information available through t...
29 May, 2026, 04.51 PM IST
Invested in US stocks directly and made forex gains due to depreciating Rupee? Know how to compute tax on forex gains and report it in ITRIndian residents investing in US stocks face forex gains tax. These gains are taxable as capital gains when US dollars are converted back t...
28 May, 2026, 05.17 PM IST
ITR-2 online filing and excel utility for A.Y. 2026–27 are now enabled on the e-Filing ITR portalIndividuals and HUFs without business income but with complex income sources like salary, multiple house properties, or capital gains can f...
27 May, 2026, 11.06 AM IST
Filing your ITR early for AY 2026–27? Why you should wait till June 15With the utilities for ITR filing for AY 2026–27 being available now, many taxpayers are planning to file their returns early. However, inc...
22 May, 2026, 04.22 PM IST
Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
22 May, 2026, 07.21 AM IST
Who can file ITR-1 this year? Common mistakes to avoid while filing ITR-1 for AY 2026-27 on or before July 31, 2026Individuals eligible for ITR-1 filing for AY 2026-27 must file by July 31, 2026. This form is for resident individuals with income up to ₹5...
15 May, 2026, 11.55 AM IST
Old vs new tax regime: Key differences that you must know before ITR filing for tax year 2026-27The new tax regime offers lower rates but removes many deductions, making a thorough comparison with the old regime crucial. While both reg...
05 May, 2026, 05.27 PM IST
Used meal card benefits? Form 12BA deadline alert: Why salaried employees must collect it by April 30 for filing ITR for AY 2026-27Salaried employees need to collect Form 123 from employers by April 30, 2026. This form details perquisites like meal card benefits. It is ...
30 Apr, 2026, 04.36 PM IST
Tax on destination wedding outside India: Will income tax apply on gifts in form of cash, property, gold jewellery? Know the rulesWhether it is cash, gold, car, or even a property, if gifted to the bride or the groom on their wedding, no tax would be levied on the gift...
24 Apr, 2026, 03.38 PM IST
ITR filing 2026: Don’t miss these key income tax deadlines for FY 2025–26 (AY 2026-27)Navigating income tax deadlines for FY 2025-26 (AY 2026-27) is crucial to avoid penalties. The Income Tax Department has set specific due d...
24 Apr, 2026, 11.48 AM IST
Meal card reporting when filing ITR: How to do it correctly and claim tax benefits under both the old and new tax regimesSalaried employees can now claim meal card tax benefits under both old and new tax regimes from Tax Year 2026-27. For AY 2026-27, the benef...
24 Apr, 2026, 07.01 AM IST
Got salary arrears after resigning? Use Form 39 to avoid higher tax in 2026–27Resigning from a job in FY 2025-26 and receiving salary arrears in FY 2026-27 can lead to a higher tax liability. To avoid this, taxpayers ...
18 Apr, 2026, 07.01 AM IST
Did you donate to a political party or plan to do so in the future and claim an income tax deduction? New ITR forms require extra disclosure, check what to reportNew income tax return forms for Assessment Year 2026-27 demand greater detail on political party donations. Taxpayers seeking deductions un...
08 Apr, 2026, 03.52 PM IST
ITR changes from April 2026: 5 key updates for Tax Year 2026–27 explainedStarting April 1, 2026, new Income Tax Act and Rules bring significant changes for Tax Year 2026-27. Key updates include extended ITR due d...
04 Apr, 2026, 02.47 PM IST
Revised Income Tax Return due date extended to March 31, 2026? No; Here’s whyBudget 2026 extended the revised Income Tax Return (ITR) filing deadline to March 31, but this change is effective from Assessment Year 202...
31 Mar, 2026, 04.47 PM IST
Good news: Income tax return filing due date extended again by tax deptITR Filing Last Date Extended: The Ministry of Finance has extended the ITR filing due date again to September 16, 2025. While initially th...
16 Sep, 2025, 11.16 AM IST