deductions

ITR-3 Alert: Key Changes to Excel Utility for AY 2025-26 Tax Filers

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ITR-3 Alert: Key Changes to Excel Utility for AY 2025-26 Tax Filers

Major Updates to ITR-3 Excel Utility for AY 2025-26: What Taxpayers Need to Know The Income Tax Department has rolled out significant changes to the ITR-3 Excel utility for Assessment Year 2025-26, impacting individuals and Hindu Undivided Families (HUFs) with income from business or profession exceeding Rs 50 lakh. These updates aim to enhance transparency … Read more

Income Tax Department Uncovers Widespread Bogus Deduction Claims: Nationwide Crackdown Initiated

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Income Tax Department Uncovers Widespread Bogus Deduction Claims: Nationwide Crackdown Initiated

Income Tax Department cracks down on bogus claims of deductions & exemptions Investigations uncover organised rackets operated by certain ITR preparers and intermediaries filing returns, claiming fictitious deductions and exemptions Data analysis reveals misuse of deductions under sections 10(13A), 80GGC, 80E, 80D, 80EE, 80EEB, 80G, 80GGA, and 80DDB The Income Tax Department initiated a large-scale … Read more