Tax experts say that omissions, data mismatches, and common assumptions were the primary causes of defective returns, penalties, and delayed refunds this year, urging timely preparation for 2026
New rules for Employees' Deposit Linked Insurance ensure that short employment gaps and public holidays no longer disqualify subscribers from essential benefits , providing greater financial security
Authorities clarify that compliance alerts for high-value transactions are prompts for voluntary correction rather than a precursor to enforcement action
Tax department advises taxpayers attempting to disclose foreign assets in revised returns to switch from ITR-1 or ITR-4 to the correct forms (ITR-2 or ITR-3) by December to ensure compliance