CBDT's latest guide explains how resident Indians must disclose foreign income and assets in ITR this year, missed details can lead to penalties under the Black Money Act
Taxpayers whose returns were wrongly invalidated by the CPC now have fresh hope as CBDT orders reprocessing of such ITRs; refunds and interest may follow
Government warns taxpayers about phishing attempts to gather their financial information
The 31-member Select Committee, chaired by BJP leader Baijayant Panda, was appointed by Lok Sabha Speaker Om Birla to scrutinise
Online tax form was delayed due to revisions that match legislative changes, say experts
You must e-verify your ITR within 30 days of filing to complete the process. Here's how to do it easily using Aadhaar OTP, net banking and other online methods.
AIS and TIS are documents that will help you check all your income and tax details
Have you updated your mobile, email or bank details on the income tax portal? Complete e-verification quickly to avoid delays in refunds and important tax alerts.
Tax experts say revising your ITR is allowed, but frequent or significant changes may raise red flags with the department's AI-driven systems
Validation ensures refunds are credited to correct accounts and tax returns are filed properly
With big transactions under the scanner, keeping records clear and payments traceable is key to staying smooth with the tax department.'
From rent fudging to hidden income, the tax department's digital dragnet is tighter than ever, mistakes can cost big. Here's how to stay safe this ITR season with clean, accurate filing.
Stricter disclosure norms and additional reporting fields added to documents
Salaried individuals, small businesses and investors with minor gains can fill up these forms, say experts
ITR filing deadline: Businesses and professionals under audit will not get more time and they must stick to the original dates
Revised documents have reporting requirements for digital assets and foreign income, seeking to enforce government's drive for greater disclosure
Document revises the way taxes were reported for buyback proceeds, unlisted bonds and cruise shipping companies
The income tax department has notified ITR-7 for AY 2025-26 with key changes in capital gains reporting. Here's what trusts, NGOs and institutions filing under section 139 should keep in mind
The income tax department has notified all seven income tax return forms for assessment year 2025-26. While ITR forms 1 and 4, which are filed by small and medium taxpayers, were notified on April 29; ITR-7, filed by trusts and charitable institutions, was notified on May 11. One important change has been introduced in ITR-1 and 4, which was notified on April 29, relating to the reporting of capital gain income from listed equities. Now, salaried individuals and those under the presumptive taxation scheme, having long-term capital gains (LTCG) of up to Rs 1.25 lakh in a financial year, will be able to file ITR-1 and ITR-4, respectively. Earlier, such persons/entities were required to file ITR-2. Under the I-T law, LTCG of up to Rs 1.25 lakh from sale of listed shares and mutual funds is exempt from tax. Gains exceeding Rs 1.25 lakh/ annum are subject to 12.5 per cent tax. The last date for filing ITR for individuals and those who do not have to get their accounts audited is July .
New ITR forms, stricter checks, filing your AY 2025-26 return? Here's what to watch out for to avoid delays, notices, or penalties