Daily Latest News
Last Updated:March 19, 2026, 07:05 IST Income Tax: While overall tax burden for individuals remains largely unchanged, the new tax law introduces structural changes in the way income is assessed and returns are filed. New Income-tax Act, 2025. India’s direct tax framework is set for a major overhaul from April 1, 2026, when the new…
Last Updated:March 06, 2026, 07:00 IST Investors of 2018 GOI Savings Bonds face tax issues as RBI deducted TDS on full interest at maturity. Expert suggests using Form 71 to distribute TDS credit. TDS on full GOI bond interest in one year: How investors can avoid tax mismatch Investors who held Government of India (GOI)…
New Delhi: The Central Board of Direct Taxes (CBDT) has extended the due dates for filing audit reports and Income Tax Returns (ITR) for the Assessment Year 2025–26, giving major relief to businesses, professionals, and firms whose accounts require auditing. Earlier, the deadline to submit tax audit reports was October 31, 2025, and the…
New Delhi: With the Sept 15 deadline for filing Income Tax Returns for individuals approaching, over 4.56 crore people have filed their ITRs, while the submission of returns is accelerating as the last date nears. Senior Income Tax Dept. officials are of the view that taxpayers “should not wait till the last-minute” to file their…
New Delhi: Central Board of Direct Taxes (CBDT) has announced Relaxation of time limit for processing ofreturns of income filed electronically which were incorrectly invalidated by CPC. CBDT has said that CPC Bengaluru has received grievances regarding erroneous invalidation, due to various technical reasons, while processing the returns filed electronically for different assessment years. The…
New Delhi: With stricter checks and new rules for tax returns, more and more people in India are running into trouble with their Income Tax Returns (ITR). Many are getting notices about “defective returns” under Section 139(9) of the Income Tax Act. This can mean delays in getting your refund, possible penalties, or even your…
No news Business Business News Update, Share Market, Gold Silver, Start Filing Income Tax Returns New Delhi1 hour ago Copy link Yesterday’s big news was related to income tax. The Income Tax Department has released the Excel Utility version of ITR-1 and ITR-4 forms for Financial Year 2024-25 or Assessment Year 2025-26. Now taxpayers can…
Eligibility Criteria Allowed for resident individuals with income from salary, one house property, other sources (like interest, pension). Capital gains were not allowed. Now includes taxpayers with LTCG up to ₹1.25 lakh under Section 112A (e.g. sale of equity mutual funds or listed shares), if no losses are carried forward. …
ITR forms now released Which one should you file Source link [ad_3]
Last Updated:May 05, 2025, 11:41 is It is necessary to understand the various forms of ITR as filing income tax returns (ITRs) can be a daunting task if you are not aware of the right form for your income type. ITR Filing 2025. Income Tax Return is 2025-26: Even as the finance ministry has notified…