Income Tax Return

ITR forms, rules under new Income Tax Act to be notified by Jan: CBDT chief

The I-T department will by January notify the ITR forms and rules under the simplified Income Tax Act, 2025, which will come into effect from next fiscal beginning April 1, Central Board of Direct Taxes (CBDT) chief Ravi Agrawal said on Monday. The intent of the department is to keep the I-T Return forms simple to ease compliance under the new law, which replaces the six-decade old Income Tax Act, 1961, he said. "We are in the process of designing forms and rules. We are working towards putting this in place by January so that taxpayers have sufficient time to adapt their processes within their system," Agrawal told reporters after launching the Taxpayers' Lounge at the India International Trade Fair (IITF). The intent is to keep the income tax return (ITR) forms simple for taxpayers to ease compliance, he added. The Income Tax Act, 2025 was passed by Parliament on August 12. All the different forms applicable under the Income Tax Act, like TDS quarterly return form and ITR forms,

Govt extends ITR filing deadline for AY 2025-26 by a day to Sept 16

The e-filing portal will remain in maintenance mode from 12:00 am to 2:30 am on September 16, 2025

Over 60 million income tax returns filed for 2025-26 so far: I-T dept

More than six crore income tax returns for Assessment Year 2025-26 have been filed so far, the Income Tax department said on Saturday. The last date to file ITRs without penalty is September 15. "Thank you taxpayers & tax professionals for helping us reach the milestone of 6 crore Income Tax Returns (ITRs) as of now and still counting," the I-T department said in a post on X. To assist taxpayers for ITR filing, tax payment and other related services, our helpdesk is functioning on a 24x7 basis, and the department is providing support through calls, live chats, WebEx sessions & Twitter/X, it added. It also asked taxpayers who haven't filed ITR for AY 2025-26 to file at the earliest to avoid a last-minute rush. The Income Tax department in May announced an extension of the due date for filing ITRs for Assessment Year (AY) 2025-26 (for income earned in financial year 2024-25) by individuals, HUFs and entities who do not have to get their accounts audited from July 31 to September

Got a tax notice for submitting less TDS? CBDT relief may offer respite

This move spares taxpayers from harsh TDS penalties if PAN is fixed in time, says expert

Paid taxes abroad as an Indian resident? Here's how to claim tax credit

Avoid double taxation on your foreign income. Here's everything you need to know for smoothly claiming your foreign tax credit while filing in India.

ITR-1, ITR-4 utilities released: How to use them for easier tax filing

Here's how you can easily fill and file your tax returns offline before uploading them to the portal through the newly released excel utilities by the IT department

CBDT extends ITR filing deadline for AY 2025-26 to September 15

The tax body said that the extension comes in the wake of the new structural and content revisions aimed at simplifying compliance, enhancing transparency, and enabling accurate reporting

Filing tax returns with wrong ITR form can invalidate and delay process

Resident individuals may use ITR-1 if their total income is within ₹50 lakh and comes from salary or pension

Changes in ITR Form 6 for 2025: Key updates taxpayers should know

Document revises the way taxes were reported for buyback proceeds, unlisted bonds and cruise shipping companies

First-time taxpayer's guide: Forms, filing, and avoiding common pitfalls

Experts break down what first-time filers should know, from selecting the right ITR form to avoiding common mistakes

Old and new tax regimes: How to choose the best option for saving money

Each regime has its own tax slabs, deductions, and exemptions

US's crypto reserve plan a booster, but Indian investors must be cautious

Lack of regularity clarity in India and high volatility mean investors should take only limited exposure

FM presents new I-T Bill in LS, to be reviewed by a standing committee

The Income Tax Bill 2025 will undergo review by a standing committee before being sent back to the government for approval. Thus it will some time for it to be passed in the Parliament

New Income Tax Bill tabled in LS: Here's what's changing & what's not

If passed, the new Income Tax Bill, 2025 will replace the Income Tax Act of 1961 and come into effect on April 1, 2026

New Income Tax Bill, 2025: Top highlights

The highly anticipated Income Tax Bill, 2025, is set to be tabled in Parliament tomorrow, February 13. Meanwhile, a draft of the Bill has already been circulated among MPs.

1.2 million ITR filers for FY 2023-24 have not got refund: How to fix issue

According to an expert, if all details are correct and no notices are pending, but the refund is still not received, contact the Centralised Processing Center (CPC) of the Income Tax Department

Income tax relief to boost demand, drive investment: DEA Secretary

Economic Affairs Secretary Ajay Seth on Sunday said the historic decision to give significant income tax relief will stimulate demand and propel growth in the next financial year for which the ministry has pegged the nominal GDP growth of 10.1 per cent. Finance Minister Nirmala Sitharaman on Saturday announced significant income tax cuts for the middle class. Individuals earning up to Rs 12.75 lakh in a year will not have to pay any taxes benefiting 1 crore taxpayers. However, the tax cuts will cost the exchequer about Rs 1 lakh crore. The Union Budget has tried to address domestic headwinds through measures which can mitigate them, Seth told PTI in an interview. "Very, very significant tax relief given to all taxpayers, and in particular to the middle class, is an attempt towards that direction, because some data is showing that consumption, as well as investment by the private sector is not to a level which requires or which is necessary for a higher growth path," he said. "There

Budget 2025 FAQs: Key tax, insurance and investment changes explained

Budget 2025 brings key tax, insurance, and investment changes. From ULIP taxation to NPS benefits and Kisan Credit Card updates, here's a breakdown of FAQs to help you understand the new provisions

Transformative direct tax reforms in Budget 2025 for middle class empowerment

The reforms are part of the Government's broader strategy to stimulate consumption, enhance ease of doing business and boosting economic growth

Only 1% of tax returns are selected for scrutiny, 99% accepted on trust

India's tax administration adopts a trust-based model, accepting over 99% of returns without scrutiny, while flagged cases undergo transparent, objective assessments