CBDT's NUDGE campaign prompts over 1.5 mn taxpayers to revise their returns as the tax department cracks down on donation claims linked to unrecognised political parties and trusts
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
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
Taxpayers and pensioners must complete mandatory tasks like ITR filing and Aadhaar-PAN linking by year-end to avoid penalties, interest liabilities and suspended benefits
Multi-asset allocation funds offer diversification across equities, debt and commodities with tax-efficient rebalancing, but they can lag pure equity funds during strong bull markets, experts say
Experts explain late filing fees, refund delays, loss of carry-forward benefits and why you should still file your belated ITR before 31 December to limit the damage
From missed income to wrong forms, ITR errors are common. Here's how revised returns, rectification, or updated filings can help you avoid penalties and refund delays
Tax experts warn that Rule 114E (2) duplicates high-value deposits in AIS, leaving secondary joint holders like homemakers and seniors vulnerable to mismatch notices