Category: Income Tax

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/got-an-income-tax-notice-what-you-must-check-before-trusting-any-tax-notice-524002-2026-04-04 The 2026 circular retains DIN as mandatory for most tax communications but allows greater flexibility in how it is referenced, including via email

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-changes-from-april-2026-5-key-updates-for-tax-year-202627-explained/articleshow/130014656.cms Starting April 1, 2026, the Income Tax Act, 2025 and Income Tax Rules, 2026 apply to all taxpayers. But, with these new regulations, there are

lipped from: https://www.taxscan.in/top-stories/itat-invalidates-reopening-based-on-audit-objection-as-change-of-opinion-upholds-deletion-of-660-cr-interest-disallowance-us-36-1444514 ITAT quashed audit-based reassessment and deleted₹6.60 crore interest disallowance The Income Tax AppellateTribunal (ITAT) Pune Bench has held that reassessment proceedings initiated on the sole

Clipped from: https://www.business-standard.com/finance/personal-finance/form-130-replaces-form-16-experts-explain-what-s-changing-in-tax-year-126040301114_1.html New document become the statutory tax deduction certificate, introducing a three-part structure and shifting reporting from the ‘assessment year’ to a ‘tax year’

Clipped from: https://www.financialexpress.com/money/your-money-disclose-relationship-with-landlord-to-claim-hra-4194614/ The Income Tax Rules 2026 expand the 50% HRA exemption to four new cities—Bengaluru, Hyderabad, Pune, and Ahmedabad—aligning them with traditional metros. HRA

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/cbdt-releases-itr-forms-for-ay-2026-27-check-key-changes-for-return-filing-523394-2026-03-31 ITR-1 can now be used to report income from up to two house properties. Earlier, taxpayers with more than one property had to

Kar Saathi will function as an intelligent virtual assistant, enabling taxpayers to understand rules, file returns, and resolve queries without relying heavily on intermediaries. The

https://www.business-standard.com/finance/personal-finance/high-value-property-gifts-to-come-under-sft-reporting-rule-237-126040100955_1.html India’s tax reporting framework for high-value property transactions is tightening, with a sharper focus on transparency. Under the newly introduced Rule 237 of the

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-2026-rule-9-puts-nri-india-linked-income-under-sharper-lens-523532-2026-04-01 A key highlight is the introduction of Rule 9, which provides a structured mechanism for estimating taxable income of non-residents when exact figures

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-rules-2026-form-121-simplifies-tds-process-for-senior-citizens-523555-2026-04-01 Until now, senior citizens relied on Form 15H to declare that their income was below the taxable limit and to prevent TDS on

Clipped from: https://www.financialexpress.com/money/new-income-tax-rules-kick-in-old-vs-new-regime-what-changes-in-deductions-exemptions-and-rebates-for-taxpayers-4191140/ New Income Tax Rules have come into effect from April 1, bringing key changes in exemptions, allowances, and perquisites. While the old tax

Clipped from: https://www.financialexpress.com/money/new-income-tax-rules-2026-7-lesser-known-benefits-in-new-tax-regime-that-can-help-you-save-more-tax-4191747/ Most traditional deductions are no longer available under the new tax regime, the official notification on new Income Tax Rules 2026 shows that

Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-department-website-revamp-site-offers-links-for-new-itr-forms-e-pay-tax-e-verification-e-pan-payment-status-and-many-other-tasks/articleshow/129943162.cms ET Online-Income Tax Dept website revamped: What’s new The Income Tax (I-T) Department has rolled out a revamped e-filing portal to support the shift to

The Income Tax Department has notified all seven ITR forms, along with ITR-V and ITR-U, for the Assessment Year 2026-27 (Financial Year 2025-26). This has led

NRI Taxation: What changes in Income-tax Act 2025 from April 1 and what stays the same? NRI Taxation: What changes in Income-tax Act 2025 from