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ITR SCRUTINY
ITR filing AY 2026-27: 8 costly mistakes taxpayers should avoid this tax return filing seasonThe I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax ...- ITR filing for FY 2025-26: Key changes in due dates, ITR forms, and F&O disclosure rules taxpayers must knowThe deadline for filing income tax returns for FY2025-26 has arrived, with new rules and forms in effect. Notably, ITR 3 and ITR 4 filings ...
- Income Tax department labels her stock market trader, denies investor status; she fights and wins Rs 54 crore capital loss claim at ITATDolly Khanna successfully challenged the tax department's classification of her Rs 54 crore short-term capital loss as a business loss. The...
- Income tax scrutiny: Who could receive a tax notice by June 30 and what to do if you've made a mistake
- Do you need to file ITR if you only incurred losses from equities or mutual funds? Check the detailsIndividuals earning below basic exemption limits (Rs 2.5 lakh old, Rs 4 lakh new regime) generally don't need to file ITR. However, mandato...
- Income tax alert: These taxpayers could receive scrutiny notices by June 30, 2026 under Section 143(2)The CBDT has set June 30, 2026, as the deadline for issuing scrutiny notices under Section 143(2) for FY 2025-26 returns. An internal deadl...
- What crypto investors need to know for tax season 2026India's tax season now demands greater scrutiny for crypto investors as enforcement intensifies. New reporting requirements, including tran...
- ITR scrutiny alert: Income Tax Department identifies 6 categories of returns for mandatory scrutiny in FY 2026-27
- ITR filing 2026: 9 key checks every taxpayer must make for AY 2026–27India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sourc...
- Hong Kong-based son gets tax notice after father buys insurance policy in his name with cash; he fights back and wins case in ITAT MumbaiAn NRI in Hong Kong faced an income tax dispute after withdrawing cash from his NRE account to give to his father. The father used this mon...
- Income Tax Department issues ITR scrutiny guidelines: These ITR filers may face compulsory scrutiny in FY 26-27The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specif...
- Want to exchange old gold for new jewellery? Beware of these taxesIndians exchanging old gold for new should be aware of potential taxes on sales and purchases. The Income Tax Department monitors high-valu...
- 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...
- Lady sold apartment, took Rs 2.5 lakh cash, bought new apartment from son-in-law, paid no tax, got income tax notice; she fights back and wins case in ITAT ChennaiA Chennai woman successfully appealed a tax notice after selling her apartment for Rs 35.5 lakh, including Rs 2.5 lakh in cash, and buying ...
- 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...
- 5 reasons why you can get income tax notice for FY 25-26 ITR: Salary income, TDS, AIS mismatches and more
- Lady took loan for investment into venture capital fund, claimed Rs 1.49 crore interest deduction, was denied by I-T dept; ITAT allows it in a landmark rulingA lady won a tax case in ITAT Mumbai. She claimed Rs 1.49 crore interest deduction on a loan taken for Venture Capital Fund investments. Th...
- 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...
- 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...
- Income Tax Dept tightens disclosure norms under presumptive taxation schemeStarting from the assessment year 2026-27, a new mandate will compel taxpayers utilizing the presumptive taxation system to reveal their ba...
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