ITR filing: Got Section 143(1) intimation after filing your income tax return? Here’s what it meansAfter filing your Income Tax Return, you may receive a Section 143(1) intimation notice. This notice confirms the tax department's prelimin...
21 Jul, 2026, 02.56 PM IST
Rs 4 crore annual income, Rs 40 crore net worth. This client still lives in a rented home, says CACA Nitin Kaushik shared the example of a client earning Rs 3.5-4 crore annually with an estimated Rs 40 crore net worth who still lives in ...
21 Jul, 2026, 09.11 AM IST
ITR filing 2026: Step-by-step guide to filing ITR-1 for AY 2026-27 before the July 31 deadlineStudents, salaried individuals, and pensioners can file ITR-1 for AY 2026-2027. The deadline for filing this income tax return is July 31, ...
20 Jul, 2026, 12.15 PM IST
7 big income tax changes for 2026-27 that may reduce penalties for small mistakesNew income tax rules aim to reduce penalties for ordinary citizens. Minor foreign asset non-disclosures will not face prosecution from Octo...
20 Jul, 2026, 11.57 AM IST
ITR-4 or ITR-3? Know which ITR form to file under presumptive taxation scheme and the documents requiredTaxpayers using the presumptive taxation scheme must select the correct Income Tax Return form. Generally, ITR-4 is suitable for individual...
20 Jul, 2026, 11.23 AM IST
Income-tax, MSME amendment Bills among key economic legislations listed for Parliament's Monsoon SessionKey economy-related bills are listed for Parliament's Monsoon Session. The Income-tax Amendment Bill aims to boost India's sovereign debt m...
19 Jul, 2026, 04.32 PM IST
Stop chasing high salary after Rs 2 lakh a month, says Mumbai man. 3 reasons why it can be a income 'trap'A Mumbai man has sparked an online discussion after saying that earning more than Rs 2 lakh a month can become a "trap" if people continue ...
19 Jul, 2026, 02.59 PM IST
Income Tax, MSME reforms among 7 key Bills on government's Monsoon Session agendaThe Centre will introduce five new Bills during the Monsoon Session. Key proposals include income tax reforms and increasing Supreme Court ...
19 Jul, 2026, 10.26 AM IST
How a Meerut slum woman masterminded a Rs 357 crore income tax return fraud from a 25-sq-yard homeThe Income Tax Department has uncovered a large tax refund fraud racket. A 30-year-old woman allegedly created fake deductions worth crores...
18 Jul, 2026, 04.04 PM IST
Name appearing in builder's records showing cash payment: Will you need to pay income tax for such property purchase? Here’s what ITAT saidCan the Income Tax Department tax you based only on papers found during a builder's search? A recent ITAT ruling explains when third-party ...
18 Jul, 2026, 10.19 AM IST
Delhi government raises annual family income limit to Rs 2.5 lakh for ration card applicationsIn a notable policy change, the Delhi government has raised the annual income cap for ration cards to Rs 2.5 lakh, a move designed to enhan...
17 Jul, 2026, 08.19 PM IST
British Airways cannot claim treaty relief on India ground handling income: ITATThe Income Tax Appellate Tribunal (ITAT) has ruled that British Airways cannot claim India-UK tax treaty protection on income from providin...
17 Jul, 2026, 10.38 AM IST
AIS now includes foreign assets, income dataThe Income Tax Department now shows foreign asset details in annual statements. This move aims to improve voluntary tax compliance for elig...
17 Jul, 2026, 12.25 AM IST
ITR 2026: Common income tax return filing mistakes that cost employees lakhsA careful, timely, and well-documented filing approach can help employees avoid notices, interest, penalties, and refund delays while ensur...
16 Jul, 2026, 12.12 PM IST
Will filing your ITR early get you a faster income tax refund? Here's what really determines the processing timeFiling income tax returns early increases processing likelihood but does not guarantee faster refunds. Successful e-verification and matchi...
14 Jul, 2026, 09.52 AM IST
Income tax penalties explained: Under-reporting, not furnishing ITR, and more -Defaults and penalties under different sectionsIf you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 1...
13 Jul, 2026, 12.41 PM IST
Presumptive taxation: Rebate to losses & deductions, what is the practical impact of changes under Income Tax Act, 2025Under the old Income Tax Act, 1961, the regime operated under three separate provisions. The new Income Tax Act, 2025 consolidates them int...
13 Jul, 2026, 11.29 AM IST