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REVISED INCOME TAX RETURN
Rs 5.26 lakh capital loss carry forward was claimed in original ITR but a lesser claim was denied in revised ITR; Taxpayer fights back and wins in ITAT Bangalore- How to select the right ITR form based on your income for AY 2026-2027
- ITR filing: Claimed capital gains exemption? The 3-year tax trap that may trigger income-tax notices
- Foreign income taxation: Employees, investors, freelancers check these aspects to prevent double taxation on same foreign income while filing ITR for AY 2026-2027Indian taxpayers earning global income face potential double taxation concerns. India's tax treaties offer relief through credits or exclus...22 Jul, 2026, 10.26 AM IST
- INR exchange rate while filing ITR to report foreign assets: Use this reference rate to convert foreign currency into INR as prescribed under income tax rulesIndian taxpayers must report foreign assets in their Income Tax Returns for AY 2026-27. Foreign currency amounts require conversion to Indi...21 Jul, 2026, 03.48 PM IST
- 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
- 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
- Income tax return: How to report capital gains correctly to avoid ITR filing mistakesAll disclosure of capital gains must be filed in Schedule CG. This schedule houses separate sections for different types of gains. For accu...20 Jul, 2026, 11.45 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
- 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
- Foreign or local? Investors at loss over GIFT fundsInvestors are grappling with confusion when it comes to reporting GIFT City fund investments in their tax returns. Fund houses provide vary...17 Jul, 2026, 07.41 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
- Did you claim a minimum Rs 10,000 income tax refund for your car bought in FY26? Here's how to claim your 1% TCS nowAccording to the income tax rules, car dealers are required to deduct 1% TCS if the ex-showroom value of the car exceeds Rs 10 lakh. Howeve...16 Jul, 2026, 01.30 PM 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
- Home loan interest column for self-occupied house disabled in ITR utility? Know what to do while ITR filing for AY 2026-2027Home loan interest column for self-occupied house is disabled in ITR utility? Know what to do while ITR filing for AY 2026-2027. The reason...15 Jul, 2026, 02.21 PM IST
- Net direct tax mop-up jumps 16% to Rs 6.5 lakh croreIndia's net direct tax collections increased by 16.4 percent to ₹6.51 lakh crore. Corporate tax collections saw a significant 22 percent ri...15 Jul, 2026, 06.07 AM IST
- ITR 2026: Increased disclosure requirements for overseas investments and foreign assets—are Indian taxpayers ready?Indian taxpayers face new disclosure rules for foreign assets and investments. Global information exchange frameworks necessitate accurate ...14 Jul, 2026, 10.59 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
- 10 major changes in ITR forms for AY 2026-2027 that you must know before filing ITRNew Income Tax Return forms for AY 2026-2027 introduce significant reporting changes. Taxpayers must now report futures and options trading...13 Jul, 2026, 11.12 AM IST
- How to check Annual Information Statement (AIS) before filing ITR: Step-by-step guideTaxpayers must review their Annual Information Statement before filing their Income Tax Return. This statement details financial transactio...11 Jul, 2026, 04.43 PM IST
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