Category: Income Tax

Clipped from: https://www.financialexpress.com/money/itr-filing-for-ay2025-26-begins-for-these-taxpayers-over-54k-income-tax-returns-filed-in-3-days-3865347/ This year there has been a significant delay in both notifying the ITR forms and updating online & offline utilities to support tax

Clipped from: https://taxguru.in/income-tax/order-passed-reply-liable-quashed-gujarat-hc.html Hasmukhbhai Girdharilal Chopra Vs National Faceless Assessment Centre (Gujarat High Court) Gujarat High Court held that reassessment order passed under section 148 of

Clipped from: https://taxguru.in/income-tax/reopening-assessment-quashed-based-change-opinion-bombay-hc.html Prithvi Apartments Co-operative Housing Society Limited Vs ACIT (Bombay High Court) Bombay High Court held that since issue already examined during the course

Clipped from: https://taxguru.in/income-tax/reassessment-u-s-148-quashed-information-supplied-gujarat-hc.html Adani Wilmar Limited Vs ACIT (Gujarat High Court) Gujarat High Court held that reassessment under section 148 of the Income Tax Act is

Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=88912 HC held that the Assessing Officer could not reopen the assessment merely on a change of opinion. The court found that the petitioner

Clipped from: https://taxguru.in/income-tax/reopening-quashed-information-notice-ambiguous-fails-establish-live-link-evidence.html Pranav Ramesh Pariikh Vs DCIT (Gujarat High Court) Gujarat High Court held that reopening of assessment under section 148 of the Income Tax

lipped from: https://taxguru.in/income-tax/matter-restored-cit-a-personal-hearing-notice-email-inspite-specifically-opting.html Sarita Konda Vs ITO (ITAT Raipur) ITAT Raipur restored the matter to the file of CIT(A) for fresh adjudication as intimation of fixation

Clipped from: https://www.thehindubusinessline.com/economy/taxpayers-can-now-use-excel-utility-to-file-itr-1-itr-4-for-ay-2025-26/article69636493.ece These forms are now available for reporting income earned between April 1, 2024, and March 31, 2025, with the filing deadline set for

lipped from: https://www.financialexpress.com/money/income-tax-itr-filing-excel-utilities-for-itr-1-itr-4-released-check-if-you-can-use-them-to-file-income-tax-return-3862422/ Taxpayers can download these utilities, fill in their income details offline, validate the information, and then generate a JSON file. The Income Tax Department has

Clipped from: https://www.business-standard.com/finance/personal-finance/it-s-time-to-get-form-16-from-your-employer-and-what-to-do-if-it-s-missing-125052900982_1.html Form 16 summarises salary paid and tax deducted at source in a financial year; it’s needed to file returns Form 16. Photo: Shutterstock

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/salaried-taxpayers-alert-you-cant-claim-lta-under-new-tax-regime-check-details-478086-2025-05-28 The new tax regime from FY 2025-26 offers zero tax on incomes up to Rs 12 lakh, making it an attractive option for

Clipped from: https://www.taxscan.in/confused-about-which-itr-form-to-file-for-ay-heres-your-complete-guide/522283/ Filing your Income Tax Return (ITR) for the Assessment Year (AY) 2025–26, corresponding to the Financial Year (FY) 2024–25, requires careful selection of

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/filed-wrong-itr-missed-appeal-window-heres-how-one-mistake-cost-a-taxpayer-rs-15-lakh-477937-2025-05-27 Filing your ITR without understanding key provisions can cost you dearly. A salaried taxpayer in Mumbai learned this the hard way after missing

New Income Tax Slabs and Rates for FY 2025-26 (AY 2026-27) https://www.bajajfinserv.in/investments/income-tax-slabs New Income Tax Slabs and Rates for FY 2025-26 (AY 2026-27): Up to

lipped from: https://www.bajajfinserv.in/investments/long-term-capital-gain-tax-on-property Long-term capital gains (LTCG) on property held for over 24 months are taxed at either 12.5% without indexation or 20% with indexation, depending