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TAX RECTIFICATION
ET Prime Special Series: Multibagger or IBC - Part 62: This quiet auto ancillary now earns in 3 months what it once earned in a yearThe stock has multiplied many times over in just a few years, the order book has never been bigger, and the value packed into every vehicle...
Filing your ITR early for AY 2026–27? Why you should wait till June 15With the utilities for ITR filing for AY 2026–27 being available now, many taxpayers are planning to file their returns early. However, inc...
Good news for taxpayers! Faster tax refunds, quicker dispute resolution, TDS framework improvements and more planned by CBDT for 2026-27Taxpayers can anticipate significant improvements in the TDS system and faster resolution of tax disputes. The Central Board of Direct Taxe...
Centre working to restore gold import tax exemption for banks; shipments resume after IGST glitch: IBJAThe Centre is expected to issue a rectification order within 48-72 hours to restore the tax exemption for gold-importing banks after a noti...
PhysicsWallah gets tax relief as I-T dept cuts demand; contests residual ask of Rs 193 croreEdtech firm PhysicsWallah has seen its tax demand reduced from Rs 263.3 crore to Rs 192.7 crore following a rectification application. The ...
2.22 lakh appeals disposed of during last fiscal: CBDT chairmanLast fiscal year, the Income Tax Department successfully resolved an impressive 222,000 appeals, showcasing a remarkable 29% growth in effi...
Delhi High Court asks CBDT to clarify tax on partners’ bonuses, stays recoveryTax authorities nationwide are demanding taxes on partner bonuses and performance pay. Professional firms argue this income is already taxe...
New feature on ITR e-filing portal: Rectification request for these tax orders can be filed online; Here’s how it helps youThe Income Tax Department has introduced a new online feature on its e-filing portal, allowing taxpayers to directly file rectification req...
Online rectification request to fix wrong tax demand notice, intimation is now enabled for up to AY 2023-24Income Tax: Sometimes the tax department makes errors in sending intimations, notices, others and this results in problems for the taxpayer...
New GSTN advisory: You can now file a rectification application to claim pending input tax credit; However, there is a catchGSTR-3B: Now GST registered taxpayers can claim pending input tax credit relating to past years namely financial year 2017-18, 18-19, 19-20...
New feature added in ITR portal: Now you can file rectification request online for incorrect ITR processing even if it’s with the AOIncome tax return: Taxpayers can now file an online application for rectification of their ITR if it was incorrectly processed. However the...
ITR refund: Not satisfied with lower income tax refund amount intimated on email? You may file a rectification requestTax refund: If you doubt the calculation taken by the income tax department in regard to your ITR then you have the option to file a rectif...
How to file income tax rectification request under section 154 on e-filing portal?Here is a step-by-step guide on how to file a rectification request on the new e-filing tax portal, as per the income tax department's webs...
CBDT directs income tax department to hold grievance redressal fortnight for taxpayers in JuneCBDT, in an official communication, said that the redressal of public grievance and taxpayer service is an area of "top priority" for the b...
How to rectify income tax returnsIf you realise that some income was not reported, or some deduction was not availed of in the return computation, it is possible to file re...
Corporate India's quick guide to BudgetBoost to markets as FPIs Category 1 and 2 are exempt from indirect transfer provisions and the resultant capital gains with retrospective e...
CBDT processes 6.53 lakh online rectification requests in ITRSection 154 of the Income-Tax Act provides the taxpayer with an option to seek rectification of mistakes in record.
I-T Dept simplifies online rectification of TDS in ITREarlier, taxpayers were required to fill in complete details of the entire TDS schedule while applying for rectification on the e-filing po...
Relief for tax payers as CBDT calls for speedy disposal of rectification applicationsThe Central Board of Direct Taxes (CBDT) has asked Income Tax officers to dispose rectification applications as early as possible.
How to rectify your income tax return onlineA taxpayer can rectify his income tax return online if there is an apparent mistake in the return already filed.