Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Large cash deposits, credit card spending, FDs, and UPI transactions are monitored by tax authorities. Taxpayers must ensure their...
Income Tax : CBDT has identified search, survey, and reassessment cases for compulsory scrutiny in FY 2026-27. The guidelines highlight the Dep...
Income Tax : Resident and Ordinarily Resident taxpayers holding foreign assets or earning foreign income must disclose details in Schedule FA. ...
Income Tax : Family members actively working in a business without proper remuneration or tax reporting may create inconsistencies in ITRs, AIS...
CA, CS, CMA : Chandigarh Chartered Accountants Taxation Association has requested CBDT to immediately release pending ITR e-filing utilities for...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
CA, CS, CMA : The Court found CBDT failed to follow its 2015 directive on timely ITR utility release. It ordered an affidavit with corrective st...
Income Tax : Bogus Donation Claims Detected—Opportunity Given to Fix Returns: Analytics spotted questionable donation deductions and other ex...
Income Tax : West Bengal’s ITR filings rose to 52.99 lakh in AY 2024-25, with significant increases in middle- and higher-income brackets. Th...
Income Tax : The Court emphasized that procedural defaults should not override substantive tax benefits where genuine hardship exists. It direc...
Income Tax : The Tribunal accepted that the taxpayer was pursuing rectification remedies and therefore condoned the delay in filing the appeal....
Corporate Law : The Calcutta High Court held that Income Tax Returns filed prior to the victim’s death could not be viewed with suspicion while ...
Income Tax : The Delhi High Court set aside an assessment order after finding that the Assessing Officer failed to consider the assessee’s re...
Income Tax : The case focuses on systemic delays and technical shortcomings in the e-filing system. The Court directed the Department to file a...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Income Tax : The corrigendum fixes an incorrect aggregation formula in Schedule CG and wrong cross-references in Schedule UD. It ensures accura...
Income Tax : The corrigendum addresses formatting and reference errors in Schedule CG and Schedule OS. It clarifies reporting fields without al...
The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and technical glitches. The key takeaway is that systemic reforms, not last-minute extensions, are needed to improve tax compliance.
Large cash deposits, credit card spending, FDs, and UPI transactions are monitored by tax authorities. Taxpayers must ensure their transaction volumes align with declared income to avoid scrutiny.
CBDT has identified search, survey, and reassessment cases for compulsory scrutiny in FY 2026-27. The guidelines highlight the Department’s focus on verifying issues arising from such proceedings.
Resident and Ordinarily Resident taxpayers holding foreign assets or earning foreign income must disclose details in Schedule FA. Failure to comply can lead to severe penalties and scrutiny under tax laws.
Family members actively working in a business without proper remuneration or tax reporting may create inconsistencies in ITRs, AIS, and banking records. Proper documentation and reporting help reduce tax compliance risks.
The guide explains Sections 206AA and 206AB, detailing higher TDS consequences for non-furnishing of PAN and return-filing defaults, applicable exceptions, compliance checks, and the impact of Section 206AB’s omission from 1 April 2025.
The Court emphasized that procedural defaults should not override substantive tax benefits where genuine hardship exists. It directed tax authorities to consider delayed returns and proceed with assessments in accordance with law.
This guide outlines the complete ITR filing checklist for AY 2026-27, from AIS reconciliation to e-verification. It helps salaried taxpayers avoid errors, notices, and refund delays.
This guide explains how taxpayers can select the correct ITR form based on their income profile and tax status. It highlights eligibility conditions and common mistakes that may lead to defective return notices.
The Tribunal accepted that the taxpayer was pursuing rectification remedies and therefore condoned the delay in filing the appeal. The key takeaway is that genuine efforts to resolve disputes through alternative legal remedies can justify delay condonation.
