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Income tax dept identifies up to 20,000 cases of individuals who used the ‘swapped provisions’ trick to reduce net tax liability; Know what to do now to fix thisThe Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' trick to unfairly reduce their tax li...- 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 ...
- New ITR forms alert: Secondary address field added, what taxpayers must knowNew Income Tax Return forms are here for Assessment Year 2026-27. A key change is a new field for a secondary address. Contact details are ...
- 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...
- ITR filing 2026: New disclosure rules on donations, F&O & more explained
- ITR filing: 4 disclosures you need to be ready with in new financial yearIndia’s tax department has rolled out updated ITR forms for FY 2025–26, introducing tighter disclosure norms while keeping the overall stru...
- Why salaried employees are getting Income Tax Department intimations and what they should do nowThe Income Tax Department is alerting taxpayers about incorrect deduction and exemption claims. Salaried individuals who chose the old tax ...
- Your income tax refund can be delayed if you don't file revised ITR by December 31, 2025 in these conditionsIncome tax refund delayed: Taxpayers claiming incorrect refunds face potential delays in their income tax refunds. The Income Tax Departmen...
- Is that exempt income actually so? Asks taxman, spooks manyThe Income Tax Department is examining tax filings. Several senior professionals are under scrutiny. Notices question income on which tax w...
- Big Four partners, top professionals hit with Income Tax notices over ‘exempt income’ claimsThe Income Tax department has issued scrutiny notices to senior professionals, equity partners of Big4 firms, and retired individuals regar...
- ITR filing for salaried employees is easier with these sources of income: Here's howBy now, most salaried individuals would have received their Form 16-a crucial document that summarizes salary earned, deductions claimed, a...
- ITR-2 for FY2024-2025 notified by Income Tax dept: There’s good news for Rs 50 lakh to Rs 1 crore income-earners, know other changes and moreThe CBDT has notified the ITR-2 form for FY2024-25, effective from April 1, 2025, which will be applicable to the majority of taxpayers, es...
- Rich taxpayers will now need to give more details, ITR-2, ITR-3 for FY 2023-24 notified by CBDTTaxpayers earning over Rs 50 lakh or owning multiple houses must provide additional information when filing income tax returns (ITR). The C...
- ITR filing: Three changes in income tax return forms for FY 2022-23 (AY2023-24)The income tax return (ITR) forms has been released by the Central Board of Direct Taxes (CBDT). Though there are no major changes in the I...
- How to claim section 80G deduction while filing ITRSection 80G of the Income Tax Act allows a deduction on the monetary donation made to the specified charitable institutions. The rules of c...
- Government notifies FY22 I-T return form for trusts, political partiesDomestic and foreign contributions for corpus fund donations have now been further bifurcated under two heads -- corpus representing donati...
- Why ITR filing deadline for FY 2020-21 may be extended beyond December 31, 2021 for individualsAs per a tweet from the Income Tax Department's official Twitter handle on January 11, 2021, for FY 2019-20 more than 5.95 crore ITRs were ...
- Income tax return forms for FY 2020-21 notifiedTaxpayers including individuals, Hindu undivided family, professionals and businesses, will be able to avail benefits of savings or investm...
- New I-T return forms: Expats need to give more info for claiming tax pact reliefOverseas residential details, tax identification numbers & residential status in India will need to be provided.
- Simplifying procedure for filing income-tax returnsMany individuals dread the income tax returns date with I-T department, as they find the entire process very confusing.
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