As the 31st July 2026 ITR filing deadline approaches, one of the biggest concerns for taxpayers has always been the performance of the Income Tax e-Filing portal. In previous years, many users experienced slow logins, submission failures and technical glitches during peak filing days. To address these concerns, the Central Board of Direct Taxes (CBDT) […]
As the Income Tax Return (ITR) filing season for AY 2026-27 gathers pace, many taxpayers across India have started receiving a new SMS from the Income Tax Department mentioning their “Total TDS”. While the message has caused confusion among many salaried employees and professionals, there is usually no need to panic. The SMS is an […]
Selling a residential property and reinvesting the capital gains into a new home is one of the most common tax-saving strategies under the Income Tax Act. However, many taxpayers worry that an unforeseen delay in construction may lead to the denial of their tax exemption. A recent decision by the Income Tax Appellate Tribunal (ITAT), […]
Many taxpayers transfer money, fixed deposits, shares, mutual funds, or gold to their spouse with the expectation of reducing the family’s overall tax burden. However, the Income-tax Act contains clubbing of income provisions that prevent such tax planning in many situations. If you gift money or assets to your spouse without adequate consideration, the income […]
Filing your first Income Tax Return (ITR) is an important financial milestone. Most first-time taxpayers focus on choosing the correct ITR form, claiming deductions, and submitting the return on time. However, many overlook one equally important aspect—protecting their e-filing account. Your Income Tax e-filing account contains sensitive financial information such as PAN details, bank accounts, […]
Income Tax Return (ITR) filing is not just about submitting your return before the due date. The Income Tax Department uses advanced data analytics, Artificial Intelligence, Annual Information Statements (AIS), Tax Deducted at Source (TDS) data, and information received from banks, mutual funds, registrars, and other reporting entities to verify the accuracy of returns filed […]
The Government of India has recently promulgated the Income-tax (Amendment) Ordinance, 2026, introducing a significant tax relief for foreign investors investing in Indian Government Securities (G-Secs). The move aims to attract stable foreign capital, strengthen India’s bond market, and support the Indian Rupee amid global economic uncertainties. While this amendment primarily benefits foreign institutional investors, […]
The Income Tax Return (ITR) filing season for FY 2025-26 (AY 2026-27) has begun, and many salaried taxpayers are eager to file their returns as early as possible. While early filing is generally considered a good compliance practice, filing too soon can sometimes create avoidable complications. The Income Tax Department, employers, banks, mutual fund houses, […]
The Income Tax Department is increasingly using technology, AIS (Annual Information Statement), and data analytics to track high-value financial transactions of taxpayers. Many people are surprised when they receive income tax notices for transactions they never disclosed in their Income Tax Return. In most cases, these transactions are already reported to the department through SFT […]
The Income Tax Return (ITR) filing season for Assessment Year (AY) 2026-27 has officially started, as the Income Tax Department has released the ITR-1 (Sahaj) and ITR-4 (Sugam) forms. This is an important update for salaried individuals, freelancers, small business owners, and professionals across India who are preparing to file their income tax returns for […]
