WebinarsNew
Deep DiveNew
Explore Business Standard
The Supreme Court has said the access by private entities to sensitive data of EPFO and ITR records was "worrisome", and asked the Centre to consider devising safeguards to ensure that such information is not misused. A bench comprising Chief Justice Surya Kant and justices Joymalya Bagchi and V Mohana, on Monday, expressed concern over the emergence of a commercial technology ecosystem allegedly accessing, retrieving and verifying sensitive personal information contained in provident fund and income tax records. The CJI, while refusing to entertain a PIL filed by Piyush Sharma on the issue, suggested that the Centre devise an effective mechanism to address the issue with the assistance of domain experts. The PIL raised concerns over private entities accessing and commercially exploiting individual data furnished to government authorities under statutory mandates. The bench said the issue essentially falls within the policy domain, but termed as "worrisome" the private access to ..
The income tax department on Monday nudged taxpayers with business or professional income who are not subject to audit to file ITRs for AY 2026-27 before August 31. Till August 20, over 2 crore ITR 3 and 4 were filed on the e-filing portal, taking the total Income Tax returns filed for AY27 to over 6.5 crore. This also includes over 5.9 crore ITR-1 and ITR-2, which were filed by the due date of July 31. "31st August 2026 is the due date for filing ITRs for AY 2026-27 for taxpayers with business or professional income who are not subject to audit. Be the tax hero who files on time," the I-T department said in a post on X. If a taxpayer falls in non-audit category, he/she can file the applicable ITR (ITR-3, ITR-4, ITR-5 or ITR-7). ITR-3 is filed by individuals and Hindu Undivided Families (HUFs) with income from a proprietary business or profession. ITR-4 is simpler form that cater to small and medium taxpayers. ITR-5 is filed by firms and Limited Liability Partnership and Cooperati
Over 1.7 crore I-T returns have been filed for 2025-26 financial year so far, the Income Tax Department said on Saturday. The last date to file ITRs 1 and 2 for income earned in 2025-26 fiscal year is July 31. "Over 1.7 Crore taxpayers have already taken the smart step and filed their ITRs for A.Y. 2026-27," the department said on X. Of this, more than 10 lakh returns were filed on Friday. ITR Form 1 (Sahaj) is a simpler form that caters to a large number of small and medium taxpayers. Sahaj can be filed by a resident individual having annual income up to Rs 50 lakh and who has salary income, one house property, and agricultural income up to Rs 5,000 a year. ITR-2 is filed by individuals and Hindu Undivided Families (HUFs) not having income from profits and gains in business or profession, but having income from capital gains.
The Income Tax Department on Wednesday enabled online filing of ITR-2 for the assessment year 2026-27 on the e-filing portal. "Online filing and Excel utility for ITR-2 for AY 2026-27 are now enabled on the e-filing portal," the I-T Department said in a post on X. ITR-2 is filed by individuals and HUFs who do not earn any income from business or profession, but have receipts from capital gains. The department had, on May 15, enabled online filing of ITR-1 and ITR-4, which are filed by small and medium taxpayers, for the assessment year 2026-27. These forms for filing ITRs for income earned in the 2025-26 fiscal were notified on March 30. With online filing and the Excel utility now enabled, assessees can now start filing tax returns. The last date for filing income tax returns by individual taxpayers in ITR-1 and ITR-2 is July 31, while for non-audit taxpayers filing ITR-4, the deadline is August 31.