ITR filing deadline: Businesses and professionals under audit will not get more time and they must stick to the original dates
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
Salaried taxpayers can switch tax regimes yearly; business professionals face stricter limits
Completing the process even if your income is below taxable limit establishes financial credibility, say experts
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
ITR-U is applicable to any individual or corporate entity that has omitted or misreported income, missed deductions, or failed to file returns altogether.
Professionals must select the correct ITR form and assess whether presumptive taxation or regular provisions suit their income, expenses and documentation requirements
Experts decode how your cash, property, or crypto gifts could quietly land you on the tax radar
Filing an ITR isn't just for paying taxes, it's a powerful tool for building financial credibility, accessing loans, securing subsidies, and opening doors to major opportunities, even with no tax due
Experts break down what first-time filers should know, from selecting the right ITR form to avoiding common mistakes
With a record tax target this year, the CBDT is tightening scrutiny on top taxpayers, fake claims, and old dues while aiming for faster refunds and better taxpayer awareness.
The new ITR 5 form brings sharper rules on capital gains, TDS, and buy-back losses, raising the bar on compliance for firms, LLPs, AOPs, and more
CBDT doubles asset reporting limit to ₹1 crore under revised ITR-3 for AY 2025-26 and introduces structured capital gains rules, buyback taxation, and dropdown menus
A breakdown of deductions, exemptions, savings under the old and new systems will help you manage your finances
Salaried taxpayers and small investors can now file simpler Sahaj and Sugam forms if LTCG from listed securities is up to Rs 1.25 lakh
The taxpayer must accurately declare all previously undisclosed income that was discovered during the search or requisition. Any omission or misrepresentation can lead to severe penalties
Deductions related to salary, including standard deduction and leave encashment, are now grouped under a single clause
To include more taxpayers within the income tax framework, the scope of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) has been broadened, Chaudhary said
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
Once a wrongful claim is detected, penalties follow