Taxpayers must correct TDS challans for Tax Year 2026-27 on the old TRACES portal. This is crucial if the challan was mistakenly filed unde...

NRIs and OCIs can use NRE accounts for overseas income and NRO accounts for India-sourced income, but tax treatment differs sharply. NRE in...

The Supreme Court has declined to hear a petition questioning the income tax exemption for Scheduled Tribes in certain north-eastern states...

The Income Tax Department has set July 31, 2026, as the deadline for most individual taxpayers, including the salaried class, to file their...

Salaried individuals can still reduce their tax liability under the new tax regime for FY 2025-26. Key deductions include employer contribu...

The government's push for non-tax revenue is off to a strong start, with public asset monetisation nearing 30% of last fiscal year's total ...

Individuals earning below basic exemption limits (Rs 2.5 lakh old, Rs 4 lakh new regime) generally don't need to file ITR. However, mandato...

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...

Wealthy Indians are finding ways to benefit from a new foreign currency deposit scheme. They are sending money to NRI relatives as gifts to...

Choosing the right business structure is crucial for a startup’s growth, taxation, compliance, control, and liability. DPIIT highlights fiv...

The Treasury Department is guiding banks to share information on suspected undocumented customers, framing it as a crackdown on fraud and c...

India's tax season now demands greater scrutiny for crypto investors as enforcement intensifies. New reporting requirements, including tran...

A woman successfully challenged the Income Tax Department's addition of Rs 10.80 lakh as unexplained cash. The ITAT Chennai ruled in her fa...

With the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are ...

India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sourc...

The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specif...

The taxman is tightening its grip on undeclared cash, with a recent tribunal ruling allowing the benami wing of the Income Tax department t...