As the income tax filing season for FY 2024-25 (AY 2025-26) gains momentum, taxpayers, especially salaried individuals and first-time investors, must tread carefully when it comes to reporting capital gains. A seemingly small mistake—like choosing the wrong ITR form or …
The Income Tax Return (ITR) filing season for Assessment Year 2025-26 is in full swing. Over 79 lakh taxpayers have already filed their returns. With the deadline set for September 15, 2025, it’s crucial to be aware of key income tax rules—not just to …
As the extended deadline for filing Income Tax Returns (ITR) for Financial Year 2024-25 (Assessment Year 2025-26) approaches (September 15, 2025), many individuals—especially those with income below the taxable threshold or Non-Resident Indians (NRIs) without Indian income—often wonder: “Do I …
Income Tax Notice Triggers: Common Reasons You May Get an ITR Notice for AY 2025-26 As the deadline to file Income Tax Returns (ITR) for Financial Year 2024-25 (Assessment Year 2025-26) approaches on September 15, 2025, taxpayers need to be extra cautious—not just …
ITR Refund Delay for AY 2025-26: Income Tax Department Reviewing Past Returns Before Issuing Refunds The filing of Income Tax Returns (ITR) for the Assessment Year (AY) 2025-26 began at the end of May 2025. So far, over 75 lakh ITRs have …
With the Income Tax Return (ITR) filing deadline for Assessment Year (AY) 2025–26 extended to September 15, 2025, for select categories, many taxpayers have already begun submitting their returns, especially after receiving Form 16. However, tax experts caution that even minor mistakes or …
The Central Board of Direct Taxes (CBDT) has issued Circular No. 08/2025, dated July 1, 2025, providing much-needed clarity on the waiver of interest levied under Sections 201(1A)(ii) and 206C(7) of the Income Tax Act, 1961. This circular addresses the concerns raised by …
The Income Tax Department recently brought attention to an insightful post by Chartered Accountant (CA) Pradeep Goyal on X (formerly Twitter) that sheds light on how the current income tax scrutiny process works in India. The department highlighted the post …
The Orissa High Court has upheld the authority of the reconstituted search-cum-selection committee to restart the selection process for the post of Judicial Member in the Goods and Services Tax Appellate Tribunal (GSTAT) in Odisha. The court dismissed a legal …
Income Tax Return Filing 2025: With the ITR filing season for Assessment Year (AY) 2025-26 already underway, salaried employees, freelancers, and professionals are once again faced with the crucial decision — Should I opt for the old tax regime or the new tax regime? While the new …
In a significant relief for taxpayers, the Himachal Pradesh High Court has quashed a tax-cum-penalty demand imposed under Section 129 of the CGST Act, citing that intent to evade tax (mens rea) is mandatory for such penalties to sustain. The Court …
In a significant ruling, the Income Tax Appellate Tribunal (ITAT) has struck down a reassessment order after finding that the Assessing Officer (AO) cited an invalid legal provision while reopening the case for Assessment Year (AY) 2006-07. Background of the …
The Income Tax Department of India is rolling out several important changes from July 1, 2025, impacting PAN-Aadhaar linkage, ITR forms, e-filing utilities, and tax payment deadlines. Taxpayers, both individuals and businesses, must stay updated to avoid penalties and ensure …
The Income Tax Department has introduced a more stringent scrutiny framework for FY 2025-26, powered by AI and advanced data analytics. From high-value transactions to undisclosed incomes, the tax authorities are leaving no stone unturned in identifying suspicious cases. Experts warn …
As the income tax return (ITR) filing season for Assessment Year 2025-26 progresses, many taxpayers are facing uncertainty due to the delayed release of utilities for ITR-2 and ITR-3 forms. While the Excel and JSON utilities for ITR-1 (Sahaj) and ITR-4 (Sugam) …
In a significant judgment, the Madras High Court has ruled that issuing notices solely through email does not constitute valid service, especially when it denies an opportunity for the recipient to respond. The order comes as a major relief to Roop Rajat Exports, …
Recent developments in cheque bounce case law highlight stricter penalties and key judicial interpretations under Section 138 of the Negotiable Instruments Act, 1881, with the Supreme Court emphasizing evidence and focusing on the location of the bank branch where the …
Filing an Income Tax Return (ITR) is not just a responsibility but a legal obligation for many individuals in India. Whether you are a salaried employee, a businessperson, a freelancer, or even a non-resident, understanding the rules for mandatory ITR …
In a significant judgment safeguarding taxpayer rights, the Madras High Court has ruled that tax authorities must issue at least one reminder notice via Registered Post Acknowledgement Due (RPAD) or other valid modes specified under Section 169 of the GST Act, before …
In a significant development for India’s GST framework, the Central Board of Indirect Taxes and Customs (CBIC) has issued clear guidelines on the appeal, review, and revision process for Orders-in-Original (O-I-Os) passed by Common Adjudicating Authorities (CAAs) in cases investigated by the Directorate General of GST …